Reply to Help me understand the impact of a $15 minimum wage?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm curious if those who are against the increase feel there shouldn't be a minimum wage at all? And why or why not?[/quote]

My personal opinion:  it should be left to the states and local areas.  WV and NYC are two very different economies and cost of living.  What is necessary for survival in NYC is quite different than WV.

However, a few Senators have a proposal to raise it slowly--and, I don't think it is to $15.
It would not start until after the pandemic is over--which is very wise.  You don't put people out of jobs when jobs are scarce.
It would be tied to inflation.[/quote]

That’s the status quo. The federal minimum is a floor. Most states have a higher wage.  Raising the floor is what we are talking about. And the jobs that pay it right now, may nor even be coming back anyway. It’s an interesting time to think outside of the box on wages and the workforce. Raising the federal minimu to 15 covers the half of the low-wage work force that makes more than federal minimu but less than 15.  Those jobs are probably not as easily cut as the lowest wage jobs anyway. But paying those workers more may offset some of the losses experienced at the lowest end.[/quote]

Raising the minimum wage is not thinking outside of the box. There is nothing new about minimum wage. Increasing wages without increasing productivity will simply lead to inflation. This is simple economics. The federal minimum wage did not impact inflation in the past precisely because it affected only a very small number of people. But if you now suddenly apply it to 30% of the workforce, its impacts on unemployment and inflation will be substantial.

I find it ironic that you think it's a good idea for the federal government to set a "floor" that is higher or equal to all existing state minimum wage levels. That's some floor. [/quote]

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