"...do we really think if companies are forced to pay their workers more that they'll just suck up the extra cost and not raise prices?"
Sure...when they are employee owned.
The salaries of CEO's are hundreds of times more than their employees. That sucking sound you might have heard is the cost of feeding the parasites at the top of the food chain.
- Redler
Kurt Nolte <[EMAIL PROTECTED]> wrote:
Kurt Nolte <[EMAIL PROTECTED]> wrote:
Keith Addison wrote:
> The GOP just shafted the working people of America. By rejecting an
> attempt to raise the minimum wage, the Republican-controlled Senate
> showed that it is far more interested in lining the pockets of its
> campaign contributors than - as Paul Krugman wrote in a New York
> Times op-ed on Monday - arriving at a "new New Deal" and working to
> "rebuild our middle class." The 52-46 vote was eight short of the 60
> needed for approval. (The measure drew the support of eight
> Republicans --four of these are up for reelection in the fall.)
>
Why does this not surprise me?
> Sen. Edward Kennedy's amendment would have raised the wage from the
> current $5.15 an hour to $7.25 - the first raise in a decade. "The
> minimum wage," as economist Gwendolyn Mink, makes clear, is supposed
> to guarantee an income floor to keep full-time wage-earners out of
> poverty. But today, the federal minimum wage guarantees abject
> poverty for workers... nearly $6,000 per year below the federal
> poverty line for a family of three."
>
I'm all for a minimum wage increase, but do we really think if companies
are forced to pay their workers more that they'll just suck up the extra
cost and not raise prices? I have a feeling prices would have
skyrocketed if this had gone through. It would have put my present wage
at under minimum.[snip]
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