Posted 1 month ago on June 22, 2014, 12:43 p.m. EST by wickerman
from Cleveland, AR
This content is user submitted and not an official statement
Just my observations, as usual my thoughts are mostly my own, so no links here.
So what could I possibly have against raising minimum wage, or against minimum wage laws period? They are unfair, and here's why. Like so many good ideas from the left, they tend to forget about the middle. The last time I saw minimum wage go up, I had been working with a company for 4 years. I do not remember what I was making at the time, but it was about $.15 over the new minimum wage. So in short, i lost 4 years of seniority, with new employees making pretty much what I was making after 4 years. You would have thought that the company would have raised everyone's pay accordingly, but since the law did not saw they had to, they didn't.
Personally I think minimum wage laws are short sighted, they only help the lowest paid employees. What I would much rather see, is a formula, based on a companies overall payroll. A bare minimum set, of course. But I would rather see something like this as well. A company whose lowest paid employee makes X dollars/year, would be required to pay second level managers no more than 3X, first level 6X, CEOs 100X, and could pay no more than 10000X per year in dividends. OK, I am no accountant, and maybe those numbers are far off, impossible, or unfair. I make no argument for or against the numbers in my formula, only for the formula concept it's self. By using a scale like this it would assure that all employees, not only the top ,who benefit now, or the bottom who benefit from minimum wage, benefit. Just food for thought.