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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][quote=Anonymous][quote=Anonymous][quote=Anonymous]All y'all's arguments are sweet and dandy but as a taxpayer I'm tired of having to pay for the welfare and food stamps of full time employees. I'm tired of subsidizing their employers. [/quote] +1 And the shareholders of their employers.[/quote] Honestly I could get on board with this if the minimum wage increase actually came with a reduction on MY taxes that subsidize these companies! But you know full well it won’t! The taxes will just go to the support the companies instead of (and maybe in addition to) the welfare state. Or it will go to pay the skyrocketing price of products that companies have had to raise in order to be able to meet the enforced $15 minimum. Sure, those who keep their jobs will be making a “living wage” of $15/hour but then the cost of food and products will increase to cover it and housing prices will rise to adjust for that and everything will just inflate! Incredibly frustrating you don’t get that! [/quote] Oh, I get that. So let's talk inflation and statistics. The minimum wage has not kept pace with inflation, purchasing power, or productivity. Moreover, the ratio between the lowest and highest paid employees has grown to its highest level since WW2. Inflation has been everywhere except low wage income. Full time minimum wage employees earn poverty line income. Index the min wage to inflation.[/quote] In addition the proposed increase would be implemented over 4 years and not all at once. Most of our inflation is caused by wage growth at the high bound and not the low bound. That's because wage growth at the low bound does not increase discretionary income unlesa it outpaces inflation, purchasing power, and productivity. Moreover, the market for lower cost goods is way leaa less competitive. Increasing demand on the lower bound will reduce cost over time as it becomes a more desirable sector to compete in. Then there's the cost, besides direct government assistance and subsidies poverty also costs us more.for healthcare and education. Sure, our taxes may not go down because our budget already runs at a deficit but the saved money will allow us to build the roads and fix the bridges that we need and use more. Ensuring that full time employees earn enough to be above the poverty line frees up money throughout the budget that can be more usefully spent and better increase growth. [/quote] Tipped workers do not want a minimum wage hike........ [quote]As the Maine House voted on a bill to reduce the minimum wage for tipped restaurant workers, Jason Buckwalter and a dozen fellow servers huddled in a back room listening to the vote call at the Bangor steakhouse where they work. They all hoped to hear one thing: that state legislators had voted to lower their wages. Some cried with relief, Buckwalter said, when the final vote ended at 110 to 37 — overwhelmingly in their favor. The vote, which took place on June 13, marked the conclusion of a months-long political saga that has upended conventional wisdom about the minimum wage. Workers have traditionally supported such increases, which advocates say are critical to lifting millions out of poverty. But in Maine, servers actively campaigned to overturn the results of a November referendum raising servers’ hourly wages from $3.75 in 2016 to $12 by 2024, saying it would cause customers to tip less and actually reduce their take-home income.[/quote] https://www.washingtonpost.com/news/wonk/wp/2017/06/27/maine-tried-to-raise-its-minimum-wage-restaurant-workers-didnt-want-it/[/quote]
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