The minimum wage changes and should not have limits but in cities or states that need a limit because who knows maybe a riot happens or people are too poor you can cap a minimum wage so now everyone can move up to higher paying jobs and live more better.
The minimum wage increase is essential:
1. It will give a tremendous boost to the movement of money through the economy, one of the primary ways to boost GDP.
2. Companies which make capital investments on the speculative market do nothing to stimulate economic growth. Raising the minimum wage takes the excess capital out of the speculative market and into the hands of purchasers, thus fueling economic growth.
3. It will help eliminate stagnating personal debt which prevents individuals from opening small businesses or reinvesting in existing small businesses.
4. Worker protections. Artificially created job scarcity is the only reason why American companies can afford to pay so little. They cut hiring and layoff workers, so the workers they have are too terrified to demand fair pay. The worker has no protection from abuse by the capital holders.
Many of the people who live in poverty do not have a full-time job; therefore, raising the minimum wage would not affect them.
The unemployment rate for workers older than 25 that do not possess a high school diploma is 11%. Raising the minimum wage would be detrimental to low-skill workers due to the fact that business owners could not afford to higher new employees.
Ultimately, an increased minimum wage would not create a more prosperous America.
Why not $5 per hour, or $20 per hour, or etc.? I think, the reason the cost of living goes up is because the minimum wage keeps going up. There should be an alternative as to how much cops, teachers, firefighters should be paid, as well as how often. Yep.
The gridlock of this Congress has me thinking about those salaries. If Congress was paid by commission-only, then they'd have no pay unless they actually got work done. The result would be beneficial to everyone. No gridlock. Congress operating. Tax-dollars well-spent. I doubt the idea would ever happen, since Congress would literally have to approve it. Still, it's an interesting thought!