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Minimum wage

Minimum wage increase = working class pay cut

Posted by boterfofy on 2007-01-17 21:00:32

I make approx double the minimum wage, $11 per hour. If the minimum wage increased to $7.25 an hour I would now only be making 140% of the minimum wage, compared to my current 200%. Since we know that Min. Wage increases lead to inflation this would effectively cause working class people to experience a major pay cut. That is unless their corporate bosses are willing to give them a pay raise out of the goodness of their own hearts, which I doubt would happen. Sorry, but I have a family and I can't afford to take this kind of pay cut.

Posted by Mr_Snuffalluffagus on 2007-01-22 14:47:13

This is exactly the kind of discussion I was trying to get going. I would like to see more.
I could have asked one more question as to how the increase would affect the economy, both in the US, and worldwide, but I chose not to.