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Hopefully this is not a trend that will continue. As you saw in the video, some of the Gator's Dockside locations are not adding the ACA surcharge. However, I am not that hopeful.
Overall, what little bit of good is done by the increase in minimum wage, is overshadowed by the unintended consequences. According to Jeffery Dorfman, "If the aim is to redistribute income without people noticing because the government role in the process is once removed, raising the minimum wage might be a good choice. However, if the goal is to help workers in or near poverty to earn a better living, the policy fails due to its poor focus and extraordinary cost relative to the reduction in poverty. We can do better by poor workers than this."
Please feel free to chime in with your own opinions below
So...If I am striving to do my best for myself and those around me by going above and beyond, doesn't it hold true that others should as well? I believe that if we all increased our levels of responsibility, then collectively the world would be a better place. Instead of doing for others...first do for yourself. If I am responsible enough to "do for myself" and to "take care of myself" then the good from that will spill over towards those around me. This rationale can also be applied to the current debate on raising the minimum wage. As a society we want to have compassion for those around us. This need for compassion leads us to raise the minimum wage, thereby causing other jobs to be lost. However, If we encouraged people who are making minimum wage to increase and improve their skillset, they would have the ability to move on to better paying jobs without negative consequences to those around them.
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Well here we go again. The CBO, (Congressional Budget Office), came out with a report that says raising the Federal Minimum Wage to $10.10 an hour would lift 900,000 people out of poverty. Awesome! Less poor people! Well, there is one problem. There are 45 million people that will be below the poverty line this year so this is barely a 2% decrease in the amount of people in poverty. Why not do it you ask? Because that same report says raising the minimum wage to $10.10 an hour would cost 500,000 jobs!. That means there will not be as many people available to pay for the goods these minimum wage workers are producing.
We had an earlier post that explained in detail how raising the minimum wage would cost jobs
We would love to hear your comments on this! Make sure you respond below
I have put together the many ways in which the average person spends way too much money every year, just because they have poor credit.