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Deal reached to boost California's minimum wage to $15

TheDemSocialist

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Lawmakers and labor unions have struck a tentative deal to raise the statewide minimum wage to $10.50 an hour next year and then gradually to $15, averting a costly political campaign this fall and possibly putting California at the forefront of a national movement.
The deal was confirmed Saturday afternoon by sources close to the negotiations who would speak only on condition of anonymity until Gov. Jerry Brown makes a formal announcement as early as Monday.


The minimum wage compromise ends a long debate between the Democratic governor and some of the state's most powerful labor unions. For Brown, it's political pragmatism; numerous statewide polls have suggested voters would approve a minimum wage proposal — perhaps even a more sweeping version — if given the chance.
According to a document obtained by The Times, the negotiated deal would boost California's statewide minimum wage from $10 an hour to $10.50 on Jan. 1, 2017, with a 50-cent increase in 2018 and then $1-per-year increases through 2022. Businesses with fewer than 25 employees would have an extra year to comply, delaying their workers receiving a $15 hourly wage until 2023.

Future statewide minimum wage increases would be linked to inflation, but a governor would have the power to temporarily block some of the initial increases in the event of an economic downturn.


Read more @: Deal reached to boost California's minimum wage to $15

Good deal! :applaud:applaud Glad they can make it!
 
How many businesses will leave California due to this? Did gov Moonbeam commission any studies to obtain that data?
 
As California goes, so does the rest of the Nation.
 
Those poor Mexican immigrants are really going to be in poverty now..
 
Read more @: Deal reached to boost California's minimum wage to $15

Good deal! :applaud:applaud Glad they can make it! [/FONT][/COLOR]

Our legislators love to micromanage our tax codes as a hobby; why not simply make it easier for capitalists on the "back end" instead of the "front end" where it helps labor the most.

Firms can usually afford to hire entire departments to help them with rational choice theory or corporate welfare forms, in triplicate. Labor does not often have that "luxury".
 
If California won't hurry up and break off into the Pacific, then we need to rope it off.
 
If California won't hurry up and break off into the Pacific, then we need to rope it off.

It is why, no one takes the right seriously about economics.

The economy of California is the largest in the United States. As of 2015, California's gross state product (GSP) is about $2.496 trillion. The state's GSP grew 4.1% in 2015
 
Read more @: Deal reached to boost California's minimum wage to $15

Good deal! :applaud:applaud Glad they can make it! [/FONT][/COLOR]

"but a governor would have the power to temporarily block some of the initial increases in the event of an economic downturn."

Why would an economic downturn necessitate a halt in the minimum wage increase? Is this an acknowledgment that raising the minimum isn't liberal nirvana but actually has negative economic consequences?
 
Considering the monstrous costs of living, taxes, and rent required to live in most California cities I can see this being a helpful thing so long as the businesses can afford it. If not let them leave in droves.
 
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