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Originally Posted by ASU2003
It would raise the state wage from $5.15 to $6.85. And each year it would increase by the amount of inflation for the previous year.
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Sounds admirable.
However...unless that inflatiary increase is applied across the board, within 20 years the minimum wage will have overrun everyone elses wages, and we will
all be earning minimum wage. Or...we'll all be out of jobs and looking to immigrate to China.
Consider...few pay increases keep pace with inflation. The industry standard for wage increases was 3% last year. What was the rate of inflation? I dunno, I'm to lazy to look it up, but it was greater than 3%. See where this goes?
So...regardless...any increase in the minimum wage will reduce the value of
your current wages...whatever that may be.