How many people will lose their jobs as a result of a minimum wage increase? How much will inflation increase?

Question

People complain about the immorality of paying a low wage, but is forcing people out of jobs (due to companies inability to pay that many workers) not more immoral?

Answer 1

jobs lost ...0... inflation that is a different story

Answer 2

This has never been the result of past minimum wage increases. Unemployment goes up & down, and no correlation to changes in minimum wage have ever been established in reality, but exists only in conservative economic theory.

As for inflation - it will certainly have a small inflationary effect -- as does anyone getting a raise. However, this effect will be vastly smaller than the increase in the wage. Again--proven by history.

Answer 3

You are looking at the glass being half-empty, pessimist.

See, paying a higher minimum wage will take more people off of public assistance, get people out of poverty by allowing them to afford the cost of living, thus putting more money to the very companies complaining about having to pay people more money. See, if people are making more money, they will SPEND more money. So the entire effect should be little or nil. And really, a company that is making billions per year in profits I think could afford to part with a dime or two per hour to their minimum wage earners.

And the argument about the "small business people" that won't be able to afford it - their typical employee is there long enough to have gotten a raise or two, and I highly think they are going to have to worry about the minimum wage hike.

I think it is wrong to expect people to live below the poverty level because you don't want to pay them more money, but turn around and complain about people being on welfare. These are people with jobs, trying to make ends meet. And they can't on what the current minimum wage is. So they are damed if they do, and damed if they don't. Yeah, that makes so much more sense.

Answer 4

the fact is the minumum wage has not kept up with the rate of inflation when I was 15 I was earning 3.75 cents an hour. The federal minumum wage is 5.15 cents an hour currently. I was 15 in 1980 the wage increase is way overdue.

Answer 5

of route - this is the only maximum inflationary element except devaluing the overseas money with techniques from authorities fiat. save in ideas even as "all you could eat buffet" at Pizza Hut replaced into 3.sixty 9? What replaced? the minimum salary. raising the minimum salary also causes lack of jobs, and in a lot of situations, the last of organizations. the theory that the minimum salary must be a "residing" salary is stupid - it has continuously existed to grant get admission to point income for faculty toddlers, and section time workers - 2 married human beings earning minimum salary can stay somewhat properly if somewhat frugal on the grounds that it truly is more advantageous than 15 money an hour. i began artwork even as the minimum replaced into .seventy 5 cents - all that has replaced is that each and everything costs more advantageous - someone determining to purchase a 25000 residing house in 1956, ought to ought to pay virtually a million right now to get a similar position with a similar centers - those issues i comprehend from own journey. Had a neighbor who outfitted her residing house including her husband herself for 6000 in 1952 - offered it many years later for 20,000 and concept they'd truly wiped clean up - she ended up in a nursing residing house, and had a stroke even as an previous pal got here to visit and informed her the residing house were offered after a small redesign for 3million. the position Palo Alto California.

Answer 6

I guess you can blame eminent inflation on wage increase...or you can blame it on the historically proven effects of supplyside economics, or deficit spending, or tax decreases, or anything else you want. But in order to pay the interest on an ever increasing national debt, americans will HAVE to make more money!

Answer 7

Today's paper says workers are losing jobs and being replaced by cheaper foreign workers who are probably happy with the minimum wage. Or at least cheaper wages.

Answer 8

I have noticed that when they increase the minimum wage retailers just raise the prices of the products to off set it .
I agree with tiger....it is way overdue!!!!!!!

Answer 9

The minium wage increase is only going to make more employers hire illegal hence making the illegal problem that much worse.

Answer 10

the way I see it more people will be inclined to work and get off welfare if their wages will be more than welfare benefits. its sad when welfare pays more than going to work. hurray for Pelosi!!!