Posted on Nov 8, 2017
Nearly 2 Million Veterans Would Benefit From Raising The Federal Minimum Wage
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Posted >1 y ago
Responses: 3
No, no they would not, a more accurate statement would be 1.5 Million Veterans would be unable to find jobs if the federal minimum wage was raised.
Restricting the ability for an individual to negotiate their own salary is not a benefit to that individual.
Restricting the ability for an individual to negotiate their own salary is not a benefit to that individual.
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Even if you were to accept that statement at face value it's an incredibly simplistic view that fails to account for the wide ranging impacts that increased inflation would bring for all veterans and all Americans.
We're already seeing this here in Southern California. With L.A. City and County in the process of ramping their minimum wage up to $15, as soon as the minimum wage increases hit prices everywhere go up. We're in the business of supplying restaurants and bars. We've had to raise our prices to account for our direct wage costs as well as paying higher prices to our suppliers. In turn our customers (restaurants and bars) have to raise their own prices. Sure the lowest wage earners are taking home a bigger paycheck but the cost of everything they buy goes up too and their buying power stays roughly the same while the buying power of people who are making above minimum wage (even if just above) goes down.
We're already seeing this here in Southern California. With L.A. City and County in the process of ramping their minimum wage up to $15, as soon as the minimum wage increases hit prices everywhere go up. We're in the business of supplying restaurants and bars. We've had to raise our prices to account for our direct wage costs as well as paying higher prices to our suppliers. In turn our customers (restaurants and bars) have to raise their own prices. Sure the lowest wage earners are taking home a bigger paycheck but the cost of everything they buy goes up too and their buying power stays roughly the same while the buying power of people who are making above minimum wage (even if just above) goes down.
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WHAT? There won't be any benefit to them IF they lose their job due to the costs associated with wage increases. If it costs a business owner more to run the business, the owner can either cut costs, increase prices (which may deter business and force a closure) or go out of business. This is not rocket science, but simple common sense.
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