ANSWERS: 5
  • Not important. Let the market dictate the wages, not the government. The government is involved with too much as it is.
  • Zero. Doing so would trigger worse inflation. As little as minimum wage seems already, jumping to $15 would do two things: prices would go up and so would payroll taxes. You'd have to pay more for stuff with less money.
  • Not important. Many small businesses can't afford to pay their workers $15.00 an hour.
  • [[https://www.investopedia.com/articles/markets-economy/090516/what-are-pros-and-cons-raising-minimum-wage.asp]] The relatively recent government attempt was flawed primarily in trying to raise the rate (much) too quickly, and in a relatively careless manner. Then why was it proposed? Political reasons, of course. The "for" politicians were counting on it leading to their re-election. "Let the market dictate the wages" in many economies leads to several rather drastic society-wide problems. Ours is one such economy, which is why a minimum wage was established in the first place (of course, in addition to other, political reasons). I guess the bottom line is: this is one for the economists. How much good and bad raising the minimum wage will do is not always easy to determine.

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