what do you think about the proposed increase in the minimum wage? Is it really going to help or hurt businesses?
2007-01-11 06:44:02 · 24 answers · asked by logan 5 in Business & Finance ➔ Other - Business & Finance
yes the bill passed the house and is on it's way to the senate. Bush is expected to sign it
2007-01-11 07:00:36 · update #1
no it wont hurt i just heard on TV that it helps the economy because people will buy what they need which i seem to recall what bush and dick said to do on 9/11 or else the terrorist win. so there is no need to survive on war rations! and it has not kept up with inflation so you cant blame the wage on the increasing inflation rate but you can blame inflation on those that earn 400 times more than their employees so you have to ask yourself what cost 400 times more that you need !
2007-01-11 06:47:16 · answer #1 · answered by Anonymous · 1⤊ 1⤋
It's going to do both. I'm actually in the process of looking for a part time job to work at after I get off from my full time job and I would love that the min wage is increased, but most smaller businesses will not be able to pay the increase to employees and may have to consider putting more responsibility on certain people and letting others go. We just have to wait and see. the bill is going to the Senate now isn't it?
2007-01-11 14:54:35 · answer #2 · answered by malinda_us 1 · 0⤊ 0⤋
I don't know about helping or hurting business, but I do know that it will definately speed the process of eleminating the middle class. As minimum wage rises, everyone elses wage stays the same. Pretty soon there is only going to be upper and lower class, however, the upper class will only be about 20% of Americans. They will be the ones with all of the shot calling... In short, America will be put in the hands of the Donald Trumps and George Bush's of the world. Now answer this, what do YOU think about the minimum wage increase?
2007-01-11 14:52:58 · answer #3 · answered by That Guy 5 · 1⤊ 0⤋
It will be absorbed by the economy quickly. First, very few people actually make the minimum and secondly the increase is not all that great. Even small business will pass the cost onto the consumers.
It is a good thing, for the simple reason it will give those minimum wage earners more money to spend.
2007-01-11 14:49:04 · answer #4 · answered by texascrazyhorse 4 · 1⤊ 0⤋
Well it is a viscous circle. A business will pass the expense on making the cost of living higher. Then there will have to be another raise in wages.
But there had been about 10 years without a raise, and other cost have risen (oil and food) so one was needed.
I remember my first job out of high school only paid 75 cents an hour.
2007-01-11 14:53:41 · answer #5 · answered by Aliz 6 · 1⤊ 0⤋
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2007-01-11 14:46:49 · answer #6 · answered by Anonymous · 0⤊ 3⤋
Minmum wage should go up just like everything else does. I mean really, think about it, who can actually live off of what it is set at right now. I know I'm not but, there are millions of people out there that are trying to survive off of practically nothing. It's not fair to those people who are making all the white collar peoples lives more cushiony.
2007-01-11 14:53:13 · answer #7 · answered by airtightreality 2 · 1⤊ 1⤋
It will hurt businesses. Wage increase means goods cost more. Everything across the board goes up and in the long run you are not ahead.
2007-01-11 14:48:32 · answer #8 · answered by Anonymous · 2⤊ 0⤋
What is min wage now? Geesh Its been so long. I remember when I was 16 working at Macy's I made $5.50/hr. I am 26 now and I am glad I don't make that. I cannot believe the govt would call $5.50 a wage...that is highly insulting.
2007-01-11 14:49:13 · answer #9 · answered by Nicol 2 · 0⤊ 0⤋
I guess they say it will hurt small businesses. But when Wal-Mart cry's about it then it bothers me. I think it is about time it increased because it would be very hard to make it in the world making $5-$6 dollars an hour.
2007-01-11 14:47:50 · answer #10 · answered by Anonymous · 0⤊ 0⤋