FrumCA wrote:
Conceptually, I'm not against minimum wage laws. Unfortunately, many of them seem to be generated simply to satisfy the "living wage" banter. What IS a living wage? That depends on who you ask. Someone making $20 an hour who works full time in Burger King would make something like $42,000 per year before taxes. That's above the FPL for a single person. But is that enough in a city like NYC? Probably not. So, the question keeps getting asked. I read somewhere where CA Senator Barbara Lee (who in the interests of fully disclosure I consider as being someone who doesn't have all her oars in the water) suggested the minimum wage should be six figures. That, of course, is ridiculous. Increases in the minimum wage have unintended consequences and the fast-food workers in CA and probably other states are seeing the results.
Conceptually, I'm not against minimum wage laws. U... (
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I don't agree with the living wage concept either. I agree with "what the market requires", but companies are loathe to move to that and even resort to illegal means to avoid it and hire kids and illegals to maximize their profits. I believe regs are necessary to keep employers honest. To date, setting higher minimum wage rates over the years has never caused an economic emergency.