H.R. 582, “Raise the wage act”

Oct 2009
510
88
Cliffside Park, NJ
H.R. 582, “Raise the wage act” is a good bill, but opponents of the bill will refrain from mentioning the minimum hourly rate will not be $15 until 7th year after the bill's passage.
In the likely case that it's not passed through and added to our federal statutes, I urge U.S. Congressional members to continue striving and pass a bill that would increase the minimum wage rate by 12.5% of its purchasing power until it attains 125% of its February-1968 purchasing power. Thereafter the rate should be monitored and annually adjusted to retain that purchasing power.

Respectfully, Supposn
 
Dec 2018
3,941
1,128
New England
H.R. 582, “Raise the wage act” is a good bill, but opponents of the bill will refrain from mentioning the minimum hourly rate will not be $15 until 7th year after the bill's passage.
In the likely case that it's not passed through and added to our federal statutes, I urge U.S. Congressional members to continue striving and pass a bill that would increase the minimum wage rate by 12.5% of its purchasing power until it attains 125% of its February-1968 purchasing power. Thereafter the rate should be monitored and annually adjusted to retain that purchasing power.

Respectfully, Supposn
Are you ok with there being fewer minimum wage jobs as a consequence?
 
Jun 2018
6,184
1,428
South Dakota
Industry is getting ahead of the clamor for increased minimum wages in anticipation of being able to stay in business when the socialist mobs demand more money.
Demanding a COLA only serves to reinforce moves to reduce the number of workers.
 
Dec 2018
3,941
1,128
New England
Kinda' depends on how many fewer minimum wage jobs, dosen't it?
You need to look at the big picture.
I try to, and I don't think disconnecting wage levels from the economic value of the work performed for those wages is good for the big picture.
 
Dec 2014
27,855
15,357
Memphis, Tn.
I try to, and I don't think disconnecting wage levels from the economic value of the work performed for those wages is good for the big picture.
The value of anything is what you can get someone to pay for it...old business adage.
 
Dec 2018
3,941
1,128
New England
The value of anything is what you can get someone to pay for it...old business adage.
... I agree, though only until some law dictates that you must pay more than that good or service is worth. When that's the case, consumers and investors start looking for alternatives.