The lowest minimum wage in Canada is in Alberta, where I live. It's $9.95.
i think minimum wage should be tied to inflation so people can stop having stupid minimum wage debates
though i'd much prefer a basic income to a higher minimum wage
To be honest I like stupid minimum wage debates but it looks like everyone here is in agreement ; (
say there are 10 workers and 1000 consumers. say the 10 workers now get paid 1 dollar more. say the company wants to recoup this ENTIRELY through price increases. they need to have their consumers paying 10 dollars more. that is 1 cent per consumer. obviously the minimum wage workers still benefit from this.
add in the fact that retail firms are generally competitive, that is if one raises its prices then they are likely to be undercut and lose business to the company that decides it can afford to keeps its price lower. so 100% recoup through price increase isnt a realistic idea.
the real numbers are bigger and instead of 1% of workers earning minimum wage its more like 5%. but still. and actually thats only 5% of the HOURLY workforce, so the real numbers of minimum wage workers v. consumers is lower than 5%, maybe significantly.
also federal minimum wage is meaningless. states should set minimum wages in accordance with the discrepancies in cost of living. 7.25 an hour is not the same in idaho and california.
I think the difference is more of an urban/rural nature than a state-by-state nature.
price of goods and disposable income is dictated in large part by tax rates which differ on a state by state basis.
oh yeah im aware of that. meaningless was the wrong word to use.
The purpose of raising minimum wage is to indirectly affect minimum monthly income. If raising minimum wage is ineffective, then why not just create a minimum monthly income.
it would really help out america
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