Posted by oldtanker on January 12, 2018 at 08:28:05 from (66.228.255.59):
In Reply to: $11 minimum ? posted by Spook on January 11, 2018 at 11:58:23:
OK what WalMart will do is lay folks off, then offer them a different position. They did that the last time they raised wages. Most of the "new positions" were the same as the old with a different title. Thing is most were fewer hours to the point that they were part time with no bennies.
OK lets say that minimum wage is 10% behind the cost of living. Wage is 7.50 and cost of living says it should be 15. So you raise minimum wage 100% to 15. Problem fixed right? Thing is that when you kick up minimum wage 10% inflation quickly goes up 10%. So raise minimum wage 100% inflation goes up 100% and so does the gap between what the minimum wage worker is earning and the cost of living......so now they are 20% behind.
Go look it up. The closest minimum wage has been to the cost of living was back in the late 60's IIRC. No big experiment here as some people think. The facts and figures are available right here in the net.
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