Quote:
Originally Posted by mpholland
The minimum wage debate is all a crock of shit. A person needs to make a wage that is capable of allowing him to contribute to the economy for any economic system to flourish. What is the point of having a minimum wage if a person can't live on it. It also needs to be region specific. 10 bucks might be reasonable in some areas, but it doesn't do much in an area where 1000 dollars is considered cheap rent. A 10 dollar minimum wage certainly isn't going to have any influence on inflation. People need to have extra money to chase goods with to cause inflation. I don't know why the uber rich give a fuck anyway. Any price increases will be passed on to the middle class, so it won't really affect them.
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Good post.
And, in the bolded; Boundless greed, Marc. They are only going to pay out what they think they
have to. They know that the government setting a minimum does affect the expectations of more highly paid employees. If you have hundreds, thousands or even tens of thousand of employees the cost ramps up exponentially. It does affect profitability and that is where their wealth is derived from.
In the past, many medium and large scale employers figured that was something they could do little about, beyond the direct approach of hiring lobbyists to "pull strings" in DC. That has changed. In recent years, they have found ways to channel more resources towards
influencing the electorate, thus influencing public policy indirectly. The rise of rightwing media, Superpacs, the Citizens United decision, etc., etc......all of this has provided a megaphone to use at their disposal. (Yes, I realize it does work both ways.)
Dave