because you know that many companies wouldn't do that. they would pay them 1 cent a day if they could
Those companies would go out of business very quickly because of a lack of employees.
how? its not like only only business would drop the salaries on unskilled people, companies would across the board and people would be stuck.
Precisely.
''The Walmart/Samsclub effect"...they went overseas to china to make their goods with drop bottom labor costs, were able to pay for shipping and duty costs to get the goods here and still be able to price the goods lower than their competition, K-mart, Walgreens, Target, Sears, Penneys, Cost-co etc....
So, in order for these other companies to stay in business and compete with Walmart, they too HAD TO GO overseas to buy their products.
Well, the same thing with lower salaries here in the USA, once one big retailer does it...keeps starting salaries low in order to keep their costs down and pricing lower than competitors, the OTHER competitors will be forced to take the same stance and start their workers at the same new lower salary....
and the workers in these jobs will be forced to accept such....
anyway...this is speaking of the corporate world....
I would think that most minimum wage workers are working in small businesses?
And it does not cause inflation to raise the minimum wage nor does our unemployment go up overall when the minimum wage is hiked up....it is done in such small incriminates over a long period of time and there are VERY VERY VERY FEW minimum wage workers in the united states that the price of goods would NOT GO UP enough to raise the cost of living for us all... Just analyze the stats from all the minimum wage hikes we have had in the past, the truth will shine through....
A quarter more per gallon in gasoline prices, will raise the price of goods more throughout the united states in freight costs verses raising the minimum wage.