How do you think the cost of living be effected by Pelosi's hike in the Minimum Wage?

Question

Questions to ponder:

When companies have to pay their employees more per hour, where do you think that money is going to come from?

Do you actually believe that Big Business owners are going to pay it, or just pass the buck to the consumer?

What about Salary positions that are not going to change based on the minimum wage???

How will that effect your life?

Sorry - in the questions I meant to write

How do you think the cost of living WILL be effected by Pelosi's hike in the Minimum Wage?

The STATE minimum wage and the FEDERAL minimum wage are 2 entirely different entities!

The states have enacted their wage increases over several years, allowing for gradual increases! A hike this large on a Federal issue, over this QUICKLY of a time period - will effect EVERYONE's "COL".

Even if you live in a state that currently are above the posted Federal minimum wage will actually effect you, too!

All of the states produce and exchange goods. As those prices rise, so will the cost of purchasing the item!

For the majority of states being lower than the Federal Minimum Wage, our current financial stability WILL be in question!!!


Oh, and - AQUA ROSE -


In terms of WASHINGTON...

Your minimum wage JUST went up to $7.93 on January 1, 2007! Check your own facts before coming at someone claiming that you know what you are talking about!!!!

http://en.wikipedia.org/wiki/List_of_U.S._state_minimum_wages

Answer 1

Here is my take on minimum wage.

The impact of raising the minimum wage has been studied since its inception. It is proven that there are job-destroying features of a higher minimum wage. Estimates of the job losses of raising the minimum wage from $4.25 to $5.15 in 1996, ranged from 625,000 to 100,000 lost jobs. It is important to recognize that the jobs lost are mainly entry-level jobs. By destroying entry-level jobs, a higher minimum wage harms the lifetime earnings prospects of low-skilled workers.

The proponents of a higher minimum wage argue that it is vitally important to raise it in order to improve the lives of poor workers. However, the raise will have only a limited impact on poor working families. For example; A single parent with two children living in California would gain only 26 cents from a 90 cent increase in the minimum wage.

To put this gain in perspective, each minimum wage worker earns $4.25 (hypothetical) an hour brings home $3.92 for each hour worked once payroll taxes are deducted. The employer costs of a minimum wage worker is $4.58 an hour when the employers share of the payroll tax is included. If workers could take home the amount of money it costs the employer to hire workers, they could have 62 cents more per hour. Clearly, the California parent would be better off if the tax wedge were reduced, rather than increasing the minimum wage.

In conclusion the campaign to raise the minimum wage will have little positive impact on the lives of poor people. Rather, it is a political measure that plays to a misunderstanding of the impact of higher minimum wages.


For Aqua Rose - I lived in Washington State for nearly seven years. The state Minimum Wage may have gone above the Federal in 2005, but that was an eight year spread from 5.15 an hour to 7.35 an hour. Obviously you didn't know this or you wouldn't have sounded off so ignorantly.

Second...the cost of living is WAY higher than the average location within the United states. If you have not left the state to live somewhere else, don't try to argue with me as I have lived in 27 of the 48 continental United States.


We will feel the hit from the minimum wage big time. What really gets me is Pelosi saying that she is going to end corruption in the whitehouse and then it just so happens that she exempts Samoa from the pay hike. Samoa houses Star Kist tuna which ploys 75% of the island's work force. It is then that is shipped off to San Francisco in a district where Nancy Pelosi is from. They have two major plants there and then all of a sudden they don't have to pay out for the minimum wage which benifits it's headquarters, San Francisco's, food conglomerate Del Monte. which, by the way, is in Nancy Pelosi's home district. Are you connecting the dots?

Answer 2

Generally, hikes in the minimum wage have been shown to help businesses. They pay a bit more, but workers also have a bit more to spend, as well. Despite claims otherwise, price increases in products generally do not follow wage increases, at least, not to the same degree as the wage increases.

Products are priced by what the market is willing to pay, so the idea that all these costs will be immediately and directly passed on actually hasn't ever been borne out.

Most of the studies on the topic have confirmed this.

It's tough, to actually have to pay workers and not be able to have slaves, but that's the price one pays for living in a free society.

Answer 3

I live in Washington state, a state that currently has a minimum wage that is nearly $8 an hour, and has had a minimum wage far about the national standard for a very long time. We also have a cost of living that is considered quite low for the USA. So go read some facts before you post ignorance sweetheart.

Answer 4

Since the national debt has been raised more than the 200 years before Reagan, and the minimum wage is still 3/4 what it was when the economy was the best it ever was in real dollars, my guess is that in real dollars it will not have been raised at all. But if they had not "raised" it, it would have been cut in half once again by all our tax money stuffed into Haliburtons pockets.

Mostly the business that have been paying minimum wage have been stuffing their own pockets to the max they could manage and charging as much as the market will pay. They will still do this to the maximum they are able, no matter what they pay their people.

Answer 5

It'll come down to consumers footing the bill.

It'll have a minor effect as I live in a state where the minimum wage is already a lot higher than the federal minimum wage (California), even with the revisions.

Incidentally, did anyone notice the exemption Pelosi gave to a tuna company within her district?

Answer 6

Employers will just pass the extra cost onto customers.
There will be layoffs from businesses that were already hurting. There always is.
Within 6 months the Minimum Wage Employees will have no more buying power that they did before.
It's a phony deal. AND ALL POLITICIANS KNOW THAT IT IS PHONY.

I don't care, but it irritates me that Politicians "act" like they are really doing something good.
That is just to fool the gullible.

Answer 7

Well the cost of living would not see a dramatic change. Minimum wage is only for legal Americans. Illegal Immigrants have no way of protecting themselves. The minimum wage should have been raised a while ago keeping up with the raises of Congress. Also companies would not change prices as they always increase prices even without more exspense.

Answer 8

I will get paid more because i make minimum wage

but my savings will be worth less then before

EDIT: charlooch is a demo contrary to what his "about me" says. He has been posting the same answer to every question for days. If you want, you can report him but usually i just give him a thumbs down for being a cry baby

Answer 9

THEY SHOULD BE ASHAMED FOR PASSING THE MINIMUM WAGE INCREASE !!!! HERE'S WHY!! WE DON'T RECEIVE THE FULL AMOUNT OF $7.25 UNTIL 2009!!! MILLIONS OF HARD WORKING AMERICANS HAVE NOT HAD AN INCREASE SINCE 1997!!!! AND WE ARE SUPPOSE TO BE GRATEFUL NOW THAT WE HAVE TO WAIT OVER 12YRS FOR A LIVING WAGE!!! THAT'S INSANE!!!! THATS 17.6 CENTS A YR FOR 12 YRS!!! MAY GOD HAVE MERCY ON THEIR SOULS!!!!!!

Answer 10

Some states already have higher minimum wages than what the federal minimum will be in 2 years. Seeing as all those states are doing just fine, I don't think it will be a big deal.
And for all the people who think Pelosi gave Star kist a deal, the gop passed the law exempting those territories in the 90's thanks to Jack Abramoff's blood money


Abramoff and his law firm were paid at least $6.7 million by the Commonwealth of the Northern Mariana Islands (CNMI) from 1995 to 2001, which may manufacture goods with the "Made in the USA" label but is not subject to U.S. labor and minimum wage laws. After Abramoff paid for Tom Delay and his staffers to go on trips to the CNMI, they crafted policy that extended exemptions from federal immigration and labor laws to the islands' industries. Abramoff also negotiated for a $1.2 million no-bid contract from the Marianas for 'promoting ethics in government' to be awarded to David Lapin, brother of Daniel Lapin. Abramoff also secretly funded a trip for James E. Clyburn (D-SC) and Bennie Thompson (D-MS).

Documentation also indicates that Abramoff's lobbying team helped prepare Rep. Ralph Hall's (R-TX) statements on the house floor in which he attacked the credibility of escaped teenaged sex worker "Katrina," in an attempt to discredit her testimony regarding the state of the sex slave industry on the island.[14]

Later lobbying efforts involved mailings from a Ralph Reed marketing company to Christian conservative voters and bribery of Roger Stillwell, a Department of the Interior official who in 2006 pleaded guilty to accepting gifts from Abramoff.