There are 5 articles on this title. You are reading the article ranked and rated #5 by Helium's members.
Minimum wages have long been a controversial subject for politicians,business persons and consumers in general.For years the same wage was earned and no one made much debate over the subject, except a few in our congressional debating teams. Employers will now have to find a way of increasing it's revenues in order to make up the difference in new wage increases. The only immediate way to do this is by increasing the cost of product or service, thus thereby possibly losing customer loyalty to the company or even a decrease in sales. The laws of supply and demand go in to effect here reasonably well. The higher the cost the lower the demand. Consumers will just not pay for something unless they really need it or are not turned off by the increase in price. The pool of workers at this price level who recieve the increase can only help fuel the rages of inflation being watched by our federal reserve officials whose job it is to keep inflation in check and help maintain a healthy workforce. Consumers will have to make up the difference through the higher cost of labor. A common theme these days with inflation on the rise almost monthy. And even though an increase in wage was earned along with it may also be an increase in the cost of say gas in order to go to that job. Many of the minimum wage jobs are in the food industries where younger workers are just starting out carreers hoping to climb the ladder to other job categories. Hopefuly at a higher wage. The end product itself will have increased as well as the cost of labor. Higher costs mean less to be spent on other items. In other words, this is like a tax on the consumer. Paying more here means more revenue for the pay roll tax coming in at a fifteen percent rate or so. This isn't so bad. These revenues go to pay for highways and infrastructure items we all use everyday. These items are must do actions and can not be left un done or else society would collapse. This may be one of the reasons the minimum wage was left alone for so long. Lower income wage earners were not expected to be able to or have reason to participate in many functions of the community. The heavy load was given to higher income earners who do participate in local functions. Bracket creep has all earners being thrust into a higher level of taxation. Being at the top or at the bottom level can have better or worse results on how much is left in the pocket.The minimum wage stayed at where it was for so long because the jobs that it represented were of a temporary nature for younger persons in search of a carreer path at the begining of their carreer.
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Minimum wages have long been a controversial subject for politicians,busines s persons and consumers in general.For years
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