What do you think of the proposed minimum wage increase?

Question

Minimum wage is $5.15, if it passes it will go up to I think $7.25 after about a year......Don't you think its time for one? But why are republicans wanting tax breaks for the companies in order for that to happen. I think its ridiculous. I don't see CEO's and other execs struggling. Why not give them a pay cut to cover the cost instead of getting breaks from the gov. I'll never understand why the rich always want to get richer.......

With gas prices, housing, food, and other general neccessities that have had alot of inflation over the years, how do they expect people to live off $5.15 an hour?

What do you think about this?

Babyblues get your facts straight......Bush still has to sign it and they say he won't unless the companies get tax breaks.

I agree redrosefading......

I understand that for small businesses like a mom and pop shop, that they would need the tax break..........I just don't want the bigger ones to get a piece of it.

Answer 1

I`d love to see some govt. officials or politicians live on $5.15 an hour. It took a long time for the wage increase to finally come about, but no time at all for Bush to allot BILLIONS of dollars to be sunk into Iraq to restore peace to a country that has been waring with one another for eons. Mean while so many over here r living at poverty level. Go figure.

Answer 2

Well I have mixed feelings about it. A small buissness owner will have difficulty managing the new wages. If you have ever owned or managed a buisness you would understand. Also you have to take into consideration the employees who make say 7$ an hour because of hard work and earning the pay increase have to contend with the new people getting the same pay. I would be upset and ask for another increase in my pay if this were to occur. Also you have to look at it like this how many people stay at minimum wage for more than a short time if they work hard and stay at the same company.I have experience in this, employees who are young or job hoppers don't work very hard and demand to much as it is. And do you really think buisness owners are going to cough up the money without raiseing prices? They have to because product and labor are the most expensive things of running almost any buisness. As for tax breaks this would help relive the buisness of the overwhelming increase in the labor. That being said I do believe it should go up at regular intervals say every other year and go up with consistency like from 5.15 to mayby 5.75. It's not all about CEO's and large coporations either look at a mom and pop pizza joint. How much do you think they make after there P & L comes back as it is. Maybe a couple thousand a month. They work there tails off for it too. Don't look at it like the rich are trying to get richer look at it like work hard earn your pay. Also how many honest hard working people do you know who must live off minimum wage. I started my job 6 yrs ago at minimum wage and now I make 750$ a week in salary plus bonus and a co. car and cell phone. Single mom 3 kids no college. I did it by working harder then anyone else!!

Answer 3

I'll never understand why people think that rich people shouldn't be rich just because everyone isn't rich. Stop being so jealous.

I think the minimum wage increase is a good idea, but I also think that it would be a better idea if other wages had a parallel increase. (For example: the increase in minimum wage would be $2.10 per hour from $5.15 to $7.25, so therefore anyone making $8.00 per hour before the increase should now make $10.10 per hour after the increase). It would be a nice idea, but it never happens.

Tax breaks for large companies help the companies to compensate for the increase in employee wages so that companies don't have to reduce their workforces in order to stay competitive and make a profit. I'm not sure why you think only executives would benefit from a tax break that a company gets, unless you really don't know what you're talking about and are just ranting.

Answer 4

I definitely agree it should be raised to 7.25 because it was set way to low in the first place. Unfortunately most of the politicians in govt. are about the almighty dollar instead of satisfying the needs of the blue collar working class. It's been the same since the beginning of industry. The rich are never satisfied with being rich, even as kids it was always whose got the most and best toys. It's time for the poor and middle class to have an opportunity to better themselves. Your right 5.15 isn't even close to what the minimum wage should be with the prices of today's products. I for one hope they see the error in their ways.

Answer 5

I think that I know a lot of people and I know no one that makes minimum wage (and I live in WA where minimum wage is 7.85 or something like that). I think its a wonderful cover for a certain group of polititians to make it look like they are doing something good and wonderful when in all actuality its accomplishing nothing. I take that back, it will inevitably hurt small businesses that have to give their employees raises who are already making above minimum wage; simply because they'll all the sudden be making minimum wage again.

In the end the wage increases will be passed onto you and me anyways in the way of product price increases.. just like everyone raised prices as gas prices went up.. it all evens out.

CEO's and execs don't struggle yoru right.. and they probably are overpaid.. but there is a reason they are paid well, they make companies run and run effectively and productively finacially speaking.. if they didn't they'd be fired.

Answer 6

I was making 5.15 an hour back in the early 80s and barely got by while living a very rural life here in Mississippi. Hunting and fishing was a necessity to help make ends meet. Gasoline was eighty cents a gallon, too. How are folks getting by on 5.15 an hour with gasoline at two dollars and more in these times? No wonder crimes like theft and gas drive offs are going up.

Answer 7

sounds rational to ask the big wigs to give up part of their money or even for the company to make less profit.

but be real....this won't happen. so if the wages go up, then the only place that can be altered is the ending price must go up.

so sure you make more money cause you make more wages...but now all that you buy, costs more.

so do you really win? who does win? the rich...cause they were never effected and still made their money from you working for them or buying from them.

and at times it can make them richer. cause the small companies can't afford to raise their prices and compete with the big companies. and the small company can't afford to cut any money spent elsewhere. so now they go out of business and the big company gets all of their customers and workers. now the rich make more money and the poor get even poorer. cause now instead of owning a small company, they work for the competition.

jibjab.com, "big box mart" is an excellent comedy on this circle of economics.

Answer 8

When the oil rise, everything will followup to rise, start frm the food at supermarket, schoolbus end to all watever fees. It seems that when all of these went up the salaries did not. Thats y the rich is getting richer and the poor getting poorer. They keep continue cant afford to pay the bills. With $5.15 juz imagine what can u get at McD or KFC. Atleast with $7 or $8 we still can get big mac..

Answer 9

I think the min. wage hike is reasonable, but the logic behind it is ridiculous. Most people are not raising families on minimum wage and the percentage of primary breadwinners earning minimum wage is nearly zero.

The tax breaks that are being proposed are for small businesses (not the ones with huge CEO compensation packages) to make up for any hit that small business may take.

Otherwise, it is possible that small biz might react by simply cutting workforce.

Answer 10

If it goes up to $7.25 it wont affect me. That's how much I make already. My husband makes over $8 an hour and the two of us working still cant afford our small home with 2 kids.
Minimum wage doesn't need to go up as much as the cost of living needs to go down.
I mean seriously, the price of things like beef and cereal...like those are endangered species!