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Originally Posted by Gatorade Frost
Can you explain that a little more? I'm not ignoring the rest of your post, I just want to sort out what this means before I comment on it. I don't understand the correlation between why there would be a wage ceiling and why that is required for a minumum wage?
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Where is the money going to come from? Sure, its easy enough to dictate a minimum wage. but its not like businesses have extra money they could be paying their employees just sitting around. Its got to come from some where. If your advocating a minimum wage that equals the cost of living, then in most areas of the country you are mandating a wage at least equal to $30k a year. Its a lot of money that comes from somewhere and the most logical place for the lawmakers to mandate it comes from is the executives' pockets.
How else is this minimum wage=COL going to be funded? I suppose another option would just be to tax everyone that makes more than the COLmimimum wage and all that money would subsidize those that aren't paid the COLmin by their employer.
So the options so far are place a price ceiling on compensation and massive income redistribution. Any other "fair" options?