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dmallind
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Thu May-27-10 11:45 AM
Response to Original message |
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Edited on Thu May-27-10 11:45 AM by dmallind
Forgetting global competition for a moment - let's make this unrealistically simple and assume the US operates in an economic vaccuum.
Let's pretend that tomorrow the minimum wage is increased to $20/hr and everybody else's earnings are indexed from that. So if you make 4 times minimum wage today or about $29 an hour you would make $80/hr tomorrow.
What do you think would happen? A year from now would all workers be almost 3 times better off in real terms than they are now? Why or why not?
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