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View Diary: Why $17 an Hour Should be the Minimum Wage (95 comments)

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  •  Huh? (6+ / 0-)

    You believe that no matter how much the minimum wage is increased, that there is no impact on business? Everything I've ever seen out of academia shows that modest increases in the minimum wage have overall beneficial effects on society. But it should be intuitive to anybody who understands economics or business that too much of an increase is counterproductive. Raising the min. wage from $7 to $9 or $10 is likely a positive thing. Doubling or tripling it? I'd like to see one (respected) study that supports such an enormous increase.

    It's like anything else - too much of a good thing is not a good thing.

    •  I have a labor intensive business (6+ / 0-)

      labor is my second biggest cost.

      Doubling the wages would increase my total cost to customers about 20%.

      Last year my biggest competitor told me I was undercharging, he was charging 25% more and getting it. I now charge the same as he was and I can pay more and I make more. My customers didn't even feel it. My customers make six figures or better, often much better, often they don't work. If everyone in my business had a 20% increase in labor costs it wouldn't affect us at all. Nada.

      How big is your personal carbon footprint?

      by ban nock on Mon Apr 01, 2013 at 05:56:09 AM PDT

      [ Parent ]

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