This is born out of my first job thread.
The federal minimum wage is $7.25 per hour. It has not been raised in 5-6 years. States and cities can establish whatever they want.
LA, SF and Seattle are planning to raise the level to $15 by 2020.
Warren Buffett argues that raising the MW to $15 would almost certainly reduce employment in a major way.
Others would say that workers need a wage that covers basic living needs.
I am a believer about letting the market decide how things work. There is the delicate balance between paying people a decent wage to support themselves against establishing a rate that is too high to make sense for employers to hire or retain employees (or reduce hours).
Thoughts?
The federal minimum wage is $7.25 per hour. It has not been raised in 5-6 years. States and cities can establish whatever they want.
LA, SF and Seattle are planning to raise the level to $15 by 2020.
Warren Buffett argues that raising the MW to $15 would almost certainly reduce employment in a major way.
Others would say that workers need a wage that covers basic living needs.
I am a believer about letting the market decide how things work. There is the delicate balance between paying people a decent wage to support themselves against establishing a rate that is too high to make sense for employers to hire or retain employees (or reduce hours).
Thoughts?
