Comment Re:Stupid reasoning. (Score 5, Insightful) 1094
Two important things to consider:
1. It will increase prices of products as well, so at the end of the day it's just a cycle where nothing really happens.
2. Do you actually think the same amount of employees will be employed if companies are mandated to pay them more? Many of them will lose jobs.
Minimum wage hikes tend to hurt two parties the most:
1. Small businesses, who are typically operating on rather small margins anyway. Unlike larger businesses, they can't easily move to places with lower minimum wage or offshore jobs.
2. Middle class, because they suffer the increase in costs incurred by minimum wage hikes, but don't benefit at all from it because they're already above the minimum wage.
Minimum wage increases try to tackle a real problem, but do nothing to actually solve it. Minimum wage should be adjusted in accordance with inflation and nothing else.
1. It will increase prices of products as well, so at the end of the day it's just a cycle where nothing really happens.
2. Do you actually think the same amount of employees will be employed if companies are mandated to pay them more? Many of them will lose jobs.
Minimum wage hikes tend to hurt two parties the most:
1. Small businesses, who are typically operating on rather small margins anyway. Unlike larger businesses, they can't easily move to places with lower minimum wage or offshore jobs.
2. Middle class, because they suffer the increase in costs incurred by minimum wage hikes, but don't benefit at all from it because they're already above the minimum wage.
Minimum wage increases try to tackle a real problem, but do nothing to actually solve it. Minimum wage should be adjusted in accordance with inflation and nothing else.