RW> And who's fault is that? Maybe Kroger should pay $50/hr, would that
RW> be enough? But if Kroger did that they would have to charge $5 for a
RW> can of soup which would mean that the kids mother would have to spend
RW> $1000 a week on food which would mean that the $50/hr the kid is
RB> Yeah, they could do that, or the executives would have to do
RB> without some perks
RB> for a while. But why should the CEO of Kroger's give up his
RB> summer home just so
RB> some kid can make a living wage?
You missed the point. If a cop's starting wage is $20K
a year (about $10/hr for a 40 hr week) and the
government mandates that the minimum wage must be
$20/hr the cop now is making $40K a year. But the
bagger at Kroger (and the person who cans the beans and
the person who ships the corn flakes and. . .) is also
making $40K which means that Kroger is going to have to
raise prices (after all they are in business to make
the local franchisee and the stock holders of the
national company money).
So the cop and bagger who used to spend $150/week of
food is now going to have spend $300-400/week. Also
the local gas station is going to have more for his gas
and for his employees so gas is going to have to go up.
The same thing applies to the local restaurant and the
store where the cop buys his equipment and the store
where our bagger buys his clothes. So you wind up with
the same thing we had in the 70's MEGA-INFLATION.
Which means that the $40K buys the same amount of stuff
as the $20K
No matter how much or how fast the government raises
the minimum wage the market will determine the values
of the service and goods.
Remember: Freedom isn't Free!
--- timEd-B11
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* Origin: My BBS * Dover, TN * (1:379/301.1)
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