minimum wage
minimum wage I heard that it will go up from $5.15hr to $7.25hr on Jan 1st, is there any truth in this? And also I have thought that minimum wage was the minimum amount of money it took to survive on your own when you work a 40hr week.
Originally Posted by Shackleford
Doesn't that just mean companies will inevitably have to pass it on to the consumer thus effectively rendering it quasi-counterproductive?
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if the minimum wage is increased to more than $7 an hour then its possible that a lot of people that are not worth $7 will get fired first... oh and the consumer will eventually pay the extra expense.
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From: Fort Worth / Crowley / Burleson, Texas
ok, I HAVE to chime in on this one since I've been doing a little research on this subject for the local and national elections that were in November. I've been an opponent of raising the minimum wage for what a poster said above (Post #4).
HOWEVER,
Realize that the minium wage has not increased since 1997? to $5.15/hour. The inflation rate is GENERALLY around 2-3% a year, that's why employers of other types of career fields raise their wages, guess what...right around 2-3%. So, given it's been 10 years since a raise for the minium wage workers, they SHOULD be earning right around $7/hour (based on $5.15 times 3% a year for the last 10 years) right were Congress is going to propose AFTER the new year when the democrats will take over. Seems that everyboyd else in the US was getting a raise, but the minimum wage workers.
Now that being said, could raising the minimum wage have a negative effect as well? of course, if employers have to pay their labor more money, something is gonna fall. and USUALLY it's the lowly workers first (no offense to the laborers). Will manufactures/resturants/retail shops raise their prices to come into line with the new wages? MAYBE! Depends on if the rest of the same type of retail places do it. But, it might make marketing/selling more of a priority to keep their costs low enough (by bringing in more business).
Ok, that being said, Congress will not raise the mimium wage to $7.15 all in one shot, they will do it over a three year time period that will allow employers to get used to the new increases and new laws. So, if you were expecting a gigantic pay raise, you don't see it all at once!
Also keep in mind, that states/counties can impose their own minimum wages, not just the federal government. I believe Chicago have a minimum wage of almost $9/hour because of the cost of living in the area. Lucky, us folks in Texas has low cost of living!
yes, I'm a die hard republican, but raising minimum wage will also work for the government as well. The more MONEY people make, is more MONEY (tax dollars) into the basket for the government to spend on the war in Iraq! (Or for Plano to build a fountain for almost $1 million!)
HOWEVER,
Realize that the minium wage has not increased since 1997? to $5.15/hour. The inflation rate is GENERALLY around 2-3% a year, that's why employers of other types of career fields raise their wages, guess what...right around 2-3%. So, given it's been 10 years since a raise for the minium wage workers, they SHOULD be earning right around $7/hour (based on $5.15 times 3% a year for the last 10 years) right were Congress is going to propose AFTER the new year when the democrats will take over. Seems that everyboyd else in the US was getting a raise, but the minimum wage workers.
Now that being said, could raising the minimum wage have a negative effect as well? of course, if employers have to pay their labor more money, something is gonna fall. and USUALLY it's the lowly workers first (no offense to the laborers). Will manufactures/resturants/retail shops raise their prices to come into line with the new wages? MAYBE! Depends on if the rest of the same type of retail places do it. But, it might make marketing/selling more of a priority to keep their costs low enough (by bringing in more business).
Ok, that being said, Congress will not raise the mimium wage to $7.15 all in one shot, they will do it over a three year time period that will allow employers to get used to the new increases and new laws. So, if you were expecting a gigantic pay raise, you don't see it all at once!
Also keep in mind, that states/counties can impose their own minimum wages, not just the federal government. I believe Chicago have a minimum wage of almost $9/hour because of the cost of living in the area. Lucky, us folks in Texas has low cost of living!
yes, I'm a die hard republican, but raising minimum wage will also work for the government as well. The more MONEY people make, is more MONEY (tax dollars) into the basket for the government to spend on the war in Iraq! (Or for Plano to build a fountain for almost $1 million!)
ok, who honestly gets paid minimum wage besides people that work at grocery stores or flip burgers at mcdonalds? last i checked, those were all jobs for high school kids. i do not belive the 'cost of living' arguement, cuz even if the min. wage is moved to $7/hr, you cannot live off that. if you are an adult and working a minimum wage job... well i just feel sorry for you.
yes, i belive that the minimum wages in most states have been stagnant for way too long, and should move with inflation, but at the same time, people need to realize that it will raise the cost of goods across the board.
yes, i belive that the minimum wages in most states have been stagnant for way too long, and should move with inflation, but at the same time, people need to realize that it will raise the cost of goods across the board.
In my opinion wages should not be decided by the government but by an agreement between the employer and the employee. But anyways, I think this belongs in the seat stays up forum.
coming from a business owner. no i have heard nothing about a raise. it if were to go to 7/hr then what is the first thing i am going to do... is run to the front of the store and mark prices up. now instead of a loaf of bread costing 1.50 now it is going to be 2.00. i dont pay my employees min. wage but it will make a differance to the business owners that do.
Originally Posted by Splitz
ok, I HAVE to chime in on this one since I've been doing a little research on this subject for the local and national elections that were in November. I've been an opponent of raising the minimum wage for what a poster said above (Post #4).
HOWEVER,
Realize that the minium wage has not increased since 1997? to $5.15/hour. The inflation rate is GENERALLY around 2-3% a year, that's why employers of other types of career fields raise their wages, guess what...right around 2-3%. So, given it's been 10 years since a raise for the minium wage workers, they SHOULD be earning right around $7/hour (based on $5.15 times 3% a year for the last 10 years) right were Congress is going to propose AFTER the new year when the democrats will take over. Seems that everyboyd else in the US was getting a raise, but the minimum wage workers.
Now that being said, could raising the minimum wage have a negative effect as well? of course, if employers have to pay their labor more money, something is gonna fall. and USUALLY it's the lowly workers first (no offense to the laborers). Will manufactures/resturants/retail shops raise their prices to come into line with the new wages? MAYBE! Depends on if the rest of the same type of retail places do it. But, it might make marketing/selling more of a priority to keep their costs low enough (by bringing in more business).
Ok, that being said, Congress will not raise the mimium wage to $7.15 all in one shot, they will do it over a three year time period that will allow employers to get used to the new increases and new laws. So, if you were expecting a gigantic pay raise, you don't see it all at once!
Also keep in mind, that states/counties can impose their own minimum wages, not just the federal government. I believe Chicago have a minimum wage of almost $9/hour because of the cost of living in the area. Lucky, us folks in Texas has low cost of living!
yes, I'm a die hard republican, but raising minimum wage will also work for the government as well. The more MONEY people make, is more MONEY (tax dollars) into the basket for the government to spend on the war in Iraq! (Or for Plano to build a fountain for almost $1 million!)
HOWEVER,
Realize that the minium wage has not increased since 1997? to $5.15/hour. The inflation rate is GENERALLY around 2-3% a year, that's why employers of other types of career fields raise their wages, guess what...right around 2-3%. So, given it's been 10 years since a raise for the minium wage workers, they SHOULD be earning right around $7/hour (based on $5.15 times 3% a year for the last 10 years) right were Congress is going to propose AFTER the new year when the democrats will take over. Seems that everyboyd else in the US was getting a raise, but the minimum wage workers.
Now that being said, could raising the minimum wage have a negative effect as well? of course, if employers have to pay their labor more money, something is gonna fall. and USUALLY it's the lowly workers first (no offense to the laborers). Will manufactures/resturants/retail shops raise their prices to come into line with the new wages? MAYBE! Depends on if the rest of the same type of retail places do it. But, it might make marketing/selling more of a priority to keep their costs low enough (by bringing in more business).
Ok, that being said, Congress will not raise the mimium wage to $7.15 all in one shot, they will do it over a three year time period that will allow employers to get used to the new increases and new laws. So, if you were expecting a gigantic pay raise, you don't see it all at once!
Also keep in mind, that states/counties can impose their own minimum wages, not just the federal government. I believe Chicago have a minimum wage of almost $9/hour because of the cost of living in the area. Lucky, us folks in Texas has low cost of living!
yes, I'm a die hard republican, but raising minimum wage will also work for the government as well. The more MONEY people make, is more MONEY (tax dollars) into the basket for the government to spend on the war in Iraq! (Or for Plano to build a fountain for almost $1 million!)
People forget that an increase in the minimum wage will likely drive an increase in other wages close to the minimum.
The market should be responsible for setting wages. Artificial price floors and ceilings tend to offset the supply / demand dynamics of the market.
Ultimately, you, as an individual are responsible for what you earn. Don't like what you make? Then make sure you increase your skill set to make yourself more marketable.
Also, if a Small business owner is making do with 3 employees at $ 6 per hour, he may quickly have to either let go of one, or cut their hours. When your margins are slim, and you can't pass the cost to a consumer because of a competitive market, then you have to decrease costs.
The market should be responsible for setting wages. Artificial price floors and ceilings tend to offset the supply / demand dynamics of the market.
Ultimately, you, as an individual are responsible for what you earn. Don't like what you make? Then make sure you increase your skill set to make yourself more marketable.
Also, if a Small business owner is making do with 3 employees at $ 6 per hour, he may quickly have to either let go of one, or cut their hours. When your margins are slim, and you can't pass the cost to a consumer because of a competitive market, then you have to decrease costs.
Originally Posted by Splitz
The more MONEY people make, is more MONEY (tax dollars) into the basket for the government to spend on the war in Iraq! (Or for Plano to build a fountain for almost $1 million!)
Also, keep in mind that it is the top 5 percent of wage earners that pay the majority of the taxes in the US.
Raise what I should have been getting a 3-4% raise in the past few years! Ya great so if all the lower people get this big bump I sure as hell wont see a raise for another few years because the companies are going to have to work at making up for this. And I know a lot of people that have not had raises in the past few years. So just because inflation happens does not mean you get an automatic raise.
Originally Posted by slayer_taunu
ok, who honestly gets paid minimum wage besides people that work at grocery stores or flip burgers at mcdonalds? last i checked, those were all jobs for high school kids. i do not belive the 'cost of living' arguement, cuz even if the min. wage is moved to $7/hr, you cannot live off that. if you are an adult and working a minimum wage job... well i just feel sorry for you.
yes, i belive that the minimum wages in most states have been stagnant for way too long, and should move with inflation, but at the same time, people need to realize that it will raise the cost of goods across the board.
yes, i belive that the minimum wages in most states have been stagnant for way too long, and should move with inflation, but at the same time, people need to realize that it will raise the cost of goods across the board.
Originally Posted by GreatWhiteZ28
Hey now I work a McDonalds..........But then agian Im not flipping the burgers either...I just have the "joy" of putting up with the B/S of Managment, and make more than Min. Wage.......and to be honest...Im only there still for the Tuition reimburstment program they offer Managers in College...
Originally Posted by Josh McGrath
last thing we need is a minimum wage inscrease to send even more jobs overseas