Eternity RPC Board
03-12-2017, 11:35 PM
(This post was last modified: 03-12-2017, 11:37 PM by Jamzor the Jaxxor.)
Jurg Sheffing, NMP
I would like to pose a simple question. Has anyone here considered the impact that raising the federal minimum wage would have on prices and employment opportunity?
Firstly, businesses will not be the ones bearing the burden of the cost increase of a higher minimum wage; consumers will. Businesses will, no doubt, pass the additional cost down to their customers by increasing their prices.
Secondly, the vast majority of those in poverty are unemployed, and the majority of the remainder are underemployed. Only 9% of poor have full-time, year-round work. Increasing the minimum wage will make it more difficult for these people to find work in order to raise themselves out of poverty because you have significantly increased the cost to businesses for hiring unskilled workers. So in addition to being less able to find work, prices will also be raised, thus further hurting the poor, whom I assume this bill is supposed to help.
Considering these points, how is this supposed to help the poor when you make it more difficult for them to find full-time work and prices are increased?
I would like to pose a simple question. Has anyone here considered the impact that raising the federal minimum wage would have on prices and employment opportunity?
Firstly, businesses will not be the ones bearing the burden of the cost increase of a higher minimum wage; consumers will. Businesses will, no doubt, pass the additional cost down to their customers by increasing their prices.
Secondly, the vast majority of those in poverty are unemployed, and the majority of the remainder are underemployed. Only 9% of poor have full-time, year-round work. Increasing the minimum wage will make it more difficult for these people to find work in order to raise themselves out of poverty because you have significantly increased the cost to businesses for hiring unskilled workers. So in addition to being less able to find work, prices will also be raised, thus further hurting the poor, whom I assume this bill is supposed to help.
Considering these points, how is this supposed to help the poor when you make it more difficult for them to find full-time work and prices are increased?