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The Water Cooler
General Discussion
is a 9.00 dollar minimum wage the answer?
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<blockquote data-quote="ahamay6" data-source="post: 2105355" data-attributes="member: 13440"><p>Normally the cost of living chases minimum wage. An increase in mini mum wage leads to increase in COL. If you look at the cost of gas, historically it has followed minimum wage at approx 1/3. 1950's gas cost about .25 a gallon and minimum wage was .75. It has always maintained that ratio. Today however, gas has gotten ahead of the ratio as i am sure most things have. This would lead one to believe that minimum wage does need to increase, although I(not an economist) believe if would only exaggerate the problem. The only thing that an increase in MW would do is raise collected taxes. I think that's why they want to do it.</p></blockquote><p></p>
[QUOTE="ahamay6, post: 2105355, member: 13440"] Normally the cost of living chases minimum wage. An increase in mini mum wage leads to increase in COL. If you look at the cost of gas, historically it has followed minimum wage at approx 1/3. 1950's gas cost about .25 a gallon and minimum wage was .75. It has always maintained that ratio. Today however, gas has gotten ahead of the ratio as i am sure most things have. This would lead one to believe that minimum wage does need to increase, although I(not an economist) believe if would only exaggerate the problem. The only thing that an increase in MW would do is raise collected taxes. I think that's why they want to do it. [/QUOTE]
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is a 9.00 dollar minimum wage the answer?
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