Why shouldn't the min. wage have the same buying power now as in 1970?
Increasing the min. wage to $15.00 an hour would only return the buying power of that wage to what it was over 40 years ago. It may be more dollars, but it isn't 'a raise'. In real life ALL Americans who work for wages are now making less in terms of buying power than 40 years ago. Meanwhile the 'investing class' and corporations are making far more BECAUSE of these low wages. Shouldn't that be an issue?
Anonymous2014-06-10T13:00:15Z
There shouldn't be a min wage. If you're a good worker you'll make good money. If not, the opposite will be true.
um..... maybe because the DOLLAR itself doesn't have the same buying power?
honestly..... is there any room in school these days for old-fashioned subjects like history and economics... or is it just dogma and that self-esteem stuff?
A higher minimum wage can result to the following: -fewer employees -lesser hours for current employees -increase in prices of products or services sold -greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase
In relation to the minimum wage battle, here's an interesting report: http://bitly.com/1n4lqIa.
Because in 1970 there were not an additional twelve million people who came here to compete for the unskilled labor positions. It's a simple law of supply and demand. Raise the minimum wage to $15 per hour and there will be 40 million more unskilled laborers here, in addition to the ones who are born here.