I'm not sure of the consequences or unintended consequences but for me it will more than likely reduce my buying power as my income is pretty much stabilized (or as they say, fixed) in retirement. Although the government has a role in a societies affairs sometimes I think they exercise to much power over people, businesses, and the like ... And exercise that power not for the sake of the people, say in this case, low income earners (which I was one for many years) but for maintains their often corrupt own power.
Well, generally laws such as a mandated Federal minimum wage increase help one group (not necessarily the poor) and hurt another (not necessarily the rich) and it is hard to measure whether it is "good" or not ... If it is raised the economy will adjust and there are certainly, in general terms, bigger problems for our society as a whole.
at this point.. it is not going to matter... we get more money .. wages go up.. prices for things go up... It Is useless... endless.
The more your wages are higher, the more someone else will be richer. Lower the all essentials price including whites goods. Cut tax rate. Then you will not need higher wages too.
I believe that increasing the minimum wage will help all of us, that it will enable people to enjoy a safer, less stressful, and ultimately more productive and sharing existence. The extra money will not be wasted; they will spend it to upgrade their circumstances and it will flow directly back into the economy. Win-win.
Social and economic history of Australia from 1890s onwards shows: 1. The wealthy were happy for the poor to be paid poverty rates and for their children to have no opportunities. 2. The trade union movement and left wing politics were the forces that changed it, including minimum wage and decent conditions. It was not just 'given' by generous employers. 3. This contributed greatly to the prosperity of Australia (currently #2 on the Human Development Index) because many of the children of the poor eventually had equal access to affordable and decent education and contribute to society more than sweat. 4. Our right wing government is undermining this. <br />
Minimum wage increase is complex but just.
a minimum wage increase will ultimately help us, because the cost of everything else has risen so much, people need to be able to afford to live.
there is such a big gap between the haves and the haves not i don't know how it could hurt
The 'Minimum wage' incentive needs to be abolished, full stop.<br />
So does this whole backward 'system' of 'earning what you are worth' mentality, if we ever hold any hopes of 'evolving' as a 'human' race...<br />
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implemented properly it will help... an ecconomy will always have inflation, but it's needs to be "controlled" and "slow paced."