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"So no, it's not so easily 'in their power'." Actually, it is. Not the utopia of minimum wage to 15hr. Let's do some quick numbers. 50 weeks a year, 35 hours
by heimatau 11y ago
"So no, it's not so easily 'in their power'."
Actually, it is. Not the utopia of minimum wage to 15hr.
Let's do some quick numbers. 50 weeks a year, 35 hours a week. Equals 1,750 hours per year.
Employers raise an employee pay by $1 an hour. Hmm. That's greater than most get from EITC. $3.5 an hour raise, and that's greater than ALL EITC recipients.
Also, managers and top managers don't need their lofty salaries. That could change.
Finally, I'd never propose an immediate change. There would be a lot of business structural change to rebuild the middle class. There are other ways to redistribute the money in a more fair way, than what is currently being done.