H.R. 582, “Raise the wage act”

I'm Supposn · Jul 19, 2019

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

I'm Supposn · Jul 19, 2019

marke said:
How does mandated wage rates and benefits serve the nation as a whole better than free-market constraints do? And that is just one point among thousands.

Marke posted this question within the thread entitled “Why is healthcare prohibitively expensive in the US?”. Respectfully, Supposn

Marke,

I'm Supposn said:
... Paul Wellstone was a U.S. Senator from Minnesota. His saying, “We all do better when we all do better” is often quoted.
Too many people consider economics as always a “zero-sum game”;(i.e. one's gain must be at the expense of other's losses). It ain't necessarily so, and it is specifically not so with regard to the U.S. federal minimum wage rate. ...

I'm Supposn said:
AlbqOwl, the federal minimum wage rate's applicable to USA's least desirable or least qualified USA employees.
There are among aggregate job applicants and employees, some more or less desirable others.

Due to wage differentials,the minimum rate greater bolsters lower and lesser bolsters higher wage rates. But in aggregate it does to some extent bolster all USA wage scales.

For most classifications of jobs or tasks in the USA, there are more applicants and employees earning comparatively lesser rather than greater wage rates. That's why the inadequacy of the minimum rate's reflected by a less adequate median rate. The purchasing power of USA's median wage rate is a good gauge of our living standards. If the purchasing power of the U.S. minimum wage rate's poorer, than USA must have a poorer living standard.

That's exactly what has been happening to U.S. wages for many decades. ...