There are so many this wrong economically with such a high wage floor
- It increases the wage scale for everyone, not just the bottom tier
- If the lowest skill jobs go to 15/hr what do you do with medium skilled jobs? Will the receptionist who makes 30% more than minimum keep that job when she can become a dog walker for the same amount? You'll have to give him a raise now to keep them...and their boss...
- You dont just GROW MONEY you now need to increase payroll expense
- Congrats youve just created inflation centralized in the city or joblessness in a city with a heroin problem...or both.
- how do you choose who pays what when? Are non profits exempt? If so why would I work at a place thats exempt? Congrats youve just increase their expenses too.
- youre doing this while also trying to increase vehicle and property taxes to build a bridge AND a tunnel AND fund mass transit. Theres ONLY ONE POT OF MONEY.
This is such a mistake
1. False
- Companies can very simply lower the wages of their upper-tier executives or management to fit the real value of their position. Their real value will probably be estimated from an average state salary for their skill-level instead of the current method of bonuses and other measures that are tied to the stockholders impression of them, instead of a metric such as revenues, profits etc. Distribution of wealth the true way, not by a trickle-down effect or "work hard" rhetoric that is proven false over and over again.
2. False
- Payroll expense can easily be budgeted and the current budget can be used, but as I've already said, could be
better distributed.
- How will inflation rise?
3. Non-profits make up a very small portion of the market and their exemption will not have an affect on the overall sentiment towards minimum wage because workers there usually have intrinsic motivational reasons for why they work there.
4.
- By increasing wages you give the public a reason to
accept higher taxes, they can now afford it. This is definitely not a move to increase disposal income but instead to be able to improve on infrastructure to improve the whole city.