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In reply to the discussion: THE PAY IS TOO DAMN LOW [View all]dman85
(14 posts)What makes a 50%+ increase a great thing but a $20 minimum wage unreasonable?
Is there a limit to the minimum wage? If so, isn't there a point were diminishing returns would occur (in some areas earlier than others)?
Some of the people in this thread are claiming that a raise in minimum wage always helps the economy with no repercussions or consequences. I'm simply trying to point out the very consequences that will come from a massive increase in minimum wage nationwide are going to hurt the very people it's supposed to help. I know the intentions are good here, but we have to examine how the market will react to this and who that will hurt.
This isn't a small 10% or 15% hike. Minimum wage in much of the country is still less than $7.50 per hour.
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