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Minimum Wage debate
On Wednesday, March 5, 2014 8:56:37 PM UTC-5, Mr. Luddite wrote:
On 3/5/2014 7:49 PM, BAR wrote: In article , says... Can any of our resident economic experts explain how raising the minimum wage helps anyone? The cost of goods sold reflect the cost of selling those goods. If the minimum wage is raised, the cost of selling increases causing the cost of goods to increase, resulting in going back to square one in terms of what is affordable to everyone. The only way it makes sense to me is if the minimum wage is raised but the cost of goods stays the same. That isn't going to happen. The companies have "extra" money laying around that they can spend of increasing their employees pay. Across the board increases in the minimum wage paid to unskilled or semi-skilled workers can have a larger impact on a company than realized by many. It often results in pressure to raise wages across the board for higher paid skilled labor as well. It's tough for some people who have skills and/or are attending school or training to make themselves more valuable to accept the fact that others are getting raises simply because some law says so. ALL...you know is what you're told. Shut up, ****. |
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