No. Actually it makes the money that most middle class people already get paid worth less. So now if you make $10 and hour you are making $3.25 more than a minimum wage worker. (in California where I live) I that min. wage worker gets bumped up to $7.15 then the $10 person is now only making $2.85 more so it is like their raise was decreased. If a company has to dig deep to pay out higher wages then they cannot afford to give the already working employees raises as they are already loosing money. The only way around that is to increase the cost of the product/service they provide to compensate. Hense where inflation comes in.
2006-08-24 02:39:47
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answer #1
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answered by Native 3
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No. it will have no effect. In fact some companies may require those making $10 and $12 to do more for the same money. If they raise the minimum wage there is a possiblity that some small companies will not be able to pay the higher rate and let those minimum wage people go and take their responsibilites and push them to the other employees. The other possibility is that they let the $10 person go and let the minimum wage person do more.
2006-08-24 09:29:01
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answer #2
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answered by thunder2sys 7
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i think the real reason keeps getting missed
think about it you get more and pay more taxes the store has to charge more and more taxes the old tax debt is the same but they have more to pay it down
new projects cost more but hay they can raise the tax a little as you are earning more you shouldn't complain because they are the ones that got you the raise
the only one who really gets a raise after all things taken in consideration is the government
look out for the $40 an hour minimum wage it will get here
i bet calf will do it first
2006-08-24 10:01:18
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answer #3
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answered by mobile auto repair (mr fix it) 7
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It will achieve one thing...outpricing American products in the international market and causing further outsourcing and thereby causing more unemployment. Compared to other countries, the US produces fewer cost-effective products per dollar per worker. I pay 8 cents a pound for tomatoes, 16 cents for a can of Coca Cola, 24 cents for a pack of cigarettes and my phone bill is $1.50 a month....but I live in China...and most of my friends drive cars, live in air conditioned homes, have TV, DVD, PCs, etc. The work ethic in the US has decreased...everyone wants more money for less work. Most of my friends put in overtime (unpaid) and even go to their offices on Saturdays and Sundays (unpaid) to make their companies are more successful. Oh, I forgot to mention that I am a white American.
2006-08-24 09:44:02
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answer #4
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answered by Frank 6
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Yes, at least hopefully, then inflation will rise and we will be back where we are now, but the difference is instead of putting a dollar in the vending machine, we will need to put in close to two dollars, which means we need to carry more money.
2006-08-24 09:28:45
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answer #5
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answered by Anonymous
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it increase inflation for the simple fact business runs on percentages and the price of everyting will reflect the increased wage increase .With-out price freezes on all products in america for 2 years and an increase in minimum wage nothing will change to benefit low income workers .
2006-08-24 09:53:13
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answer #6
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answered by playtoofast 6
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It's already at that or higher in some states. I don't know about your specific question but I do know that in states where the minimum wage is higher than the federal $5.15, unemployment has not gone up as a result.
2006-08-24 09:26:37
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answer #7
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answered by Anonymous
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The way to fight inflation is to fix the country's economy.
The Democrats will do it, just you watch.
In the meantime, as a Canadian, I am enjoying a very good exchange rate. The way things are going, our dollar will be worth more than yours by the time Bush is ousted and convicted for his war crimes.
2006-08-24 10:08:31
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answer #8
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answered by Anonymous
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No. You need a basic economics course.
While we're at it maybe we should pass a law that says milk must be $0.25/gal. and gas can't be more than $0.09/gallon. Oh and you know cars are too expensive for me - I think we should force auto manufacturers to limit the price of cars to $50.00.
What a silly concept. The government should set the price for goods and services.
2006-08-24 10:13:34
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answer #9
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answered by Moose C 3
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It would, but it would also cause prices to increase. Companies can not, nor will not absorb the extra costs of higher pay to employees, unless the employees show they are worth it. Forcing them to pay more does not make that employee worth more.
2006-08-24 09:27:16
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answer #10
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answered by Anonymous
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