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Reply to "Help me understand the impact of a $15 minimum wage? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Capitalism ultimately eats itself. In the drive to increase profit and decrease labor costs, we are now at the point where people making minimum wage no longer have disposable income, which drives the market. But shareholder value, boy - we got that![/quote] Just how much "disposable income" do you think a teenager needs? They make up a large proportion of the 2.1 % of hourly workers who make minimum wage. And, hourly workers make up less than 60% of the workforce-[b]-so minimum wage workers are likely closer to 1% of work force. [/b] Most people who make minimum wage will get paid more with experience. I don't know the percentage here in the DMV, but, judging from what my high schooler was paid at the mall a few years ago, very few are making minimum wage. Doubtful that many places around here are only paying minimum wage. [/quote] Then it shouldn't cost much to raise the minimum wage, since so few are affected. [/quote]
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