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Re: Will you vote for Hillary as ourr next President?
It depends how large the increase in the minimum wage is. I have seen the minimum wage go from $1.25/hr. back in the 60's (I worked in a gas station for $1.00 / hr back then), up to todays $7.25/hr. I have never heard of significant layoffs, significantly reduced hiring plans, or significantly higher product prices due to a modest increase in the minimum wage. As long as the increases in the minimum wage are modest and spaced out over time, they are accommodated by business. The price of most products rise over time because there is a general inflation process in the country anyhow. A barrel of oil has gone from $10 in the 60's to $55 today (but its been as high as 147 and spent significant time over 100 a barrel), a dr. visit from $15 to $75, a 2000 sq. ft house from 35K to 135K, and a Whopper from $1 to $4.
What bothers me is any attempt to raise the min. wage too far too fast, to catch up for failing to raise it for long periods of time in the recent past. Going from 7.25 to 10.10 in a year is unreasonable, because it is so far outside the standard rate of inflation that it would disrupt the system. That type of increase should probably be spaced in annually over 5 years. As far as going to $15 per hour, I don't see that as reasonable at all in the foreseeable future. That would be too big a shock to the system IMO.
The standard response when the minimum wage increase is raised is either cutting the payroll, by way of layoffs, less hiring, or significantly raising the price of the product or service they sell.
It depends how large the increase in the minimum wage is. I have seen the minimum wage go from $1.25/hr. back in the 60's (I worked in a gas station for $1.00 / hr back then), up to todays $7.25/hr. I have never heard of significant layoffs, significantly reduced hiring plans, or significantly higher product prices due to a modest increase in the minimum wage. As long as the increases in the minimum wage are modest and spaced out over time, they are accommodated by business. The price of most products rise over time because there is a general inflation process in the country anyhow. A barrel of oil has gone from $10 in the 60's to $55 today (but its been as high as 147 and spent significant time over 100 a barrel), a dr. visit from $15 to $75, a 2000 sq. ft house from 35K to 135K, and a Whopper from $1 to $4.
What bothers me is any attempt to raise the min. wage too far too fast, to catch up for failing to raise it for long periods of time in the recent past. Going from 7.25 to 10.10 in a year is unreasonable, because it is so far outside the standard rate of inflation that it would disrupt the system. That type of increase should probably be spaced in annually over 5 years. As far as going to $15 per hour, I don't see that as reasonable at all in the foreseeable future. That would be too big a shock to the system IMO.