ugh. could the so called business owners in this thread, which there are few, please understand the minimum wage is below poverty, has been that way since 1982, does not come close to tracking with the wage gains of the rich in the same timeframe, & that the rich work to minimize labor cost, & that the only thing protecting workers from 10 cents an hour is the minimum wage law?
sure there would be a tipping point that a minimum crushes business. just like there is a minimum (zero) that crushes the poor. somewhere in the middle, businesses profit & workers make a decent wage. at todays rate, we are not close to that, especially considering the wealth gap.
Quote:
If the minimum wage had grown at the same rate as the earnings of the top one percent of Americans the federal wage floor would be more than triple the current hourly minimum of $7.25. Instead, the minimum wage has been lower than a poverty wage ever since 1982.
The stagnation and collapse of minimum wage purchasing power has helped drive the divergence between the wealthiest and poorest segments of the U.S. workforce. As minimum-wage jobs have provided less and less stable economic footing for working people, the wealthiest sliver of the country has seen astronomical gains in their compensation. If instead the federal minimum wage had grown at the same rate as one-percenter earnings, it would sit at $22.62 per hour today — 212 percent higher than the current wage floor.
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Where The Minimum Wage Would Be If The Top One Percent Didn't Leave Workers Behind
