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Old October 3rd, 2016, 05:19 PM   #1
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Federal minimum wage rates’ effects upon prices and employees’ purchasing powers

Federal minimum wage rates’ effects upon product prices and employees’ purchasing powers:

The numbers of labor hours imbedded within the products prices differ but extremely few service products and no goods’ products prices are entirely due to hours of labor integral to products.
[I.E. the portion of a products price attributable to total labor hours integral within any product cannot exceed 100% but is generally a much lower fraction of 1.00].

[If the federal minim wage rate were repealed or not effectively enforced, theoretically a market determined minimum cost applicable to the least desirable laborers would then exist. Even slave labor is of some expense. Currently all the entire earnings of employees, (even those earning no more than the $7.25/Hr. minimum), cannot be entirely attributed only to the existence of a federal minimum wage rate.]

The portion of jobs’ wage rates due to the federal minimum wage rate differ for each job. For employees earning exactly the minimum rate, that portion is a fraction of less than one. That fraction’s gradually reduced as job rate’s approach the median rate. They become hardly perceivable and may be considered as effectively zero as they approach or go beyond the median wage rate.

The numbers of labor hours imbedded within the products prices differ but extremely few service products and no goods’ products prices are entirely due to hours of labor integral to a product’s price.
All of those factors of aggregate products’ costs are fractions less than one that when multiplied upon each other consequentially produce an answer much smaller than any one of the factors.

The portions of products’ costs due to various wage rates and the portions of various wage rates due to the federal minimum wage rate are all variable fractional factors that are less than one. Any increased prices they pay that due to inflation may be attributable to the federal minimum wage rate is significantly less that those minimum rate’s beneficial effects upon their employment derived incomes.

Employees and their dependents net benefit from the federal minimum wage rate. The working poor are (proportional to incomes), the greatest beneficiaries of the minimum wage rate. All persons that benefit from entities (such as commercial enterprises) that indirectly benefit due to employees’ improved financial conditions are also indirect beneficiaries of the federal minimum wage rate.

Respectfully, Supposn
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