The federal minimum wage rate bolsters All wage rates.

The federal minimum wage rate bolsters All wage rates.

Postby Supposn » Wed Aug 17, 2016 9:00 am

The federal minimum wage rate has a beneficial effect upon all USA labor compensation.

The federal minimum wage rate affects all USA wage and salary rates but it does not affect them all equally.

The extent of the federal minimum wage rate’s effect upon a job’s rate is proportionally related to the differences between the two rates. Lesser wage scales benefit more and higher wage scales benefit less but it is not detrimental to any USA wage scale. To some extent it bolsters all USA wages and salaries but it is of the greatest benefit to the least earning fifth of our nation’s income earners.

USA’s labor costs due to USA’s the lowest wage rate workers are not generally the greatest proportion of costs attributable to labor integral to USA products’ prices and extremely few USA products prices are entirely due to labor.
USA’s lowest wage rate workers and thus the federal minimum wage rate is not among the major contributors to the U.S. dollar’s inflation.

The to the extent of the federal minimum wage rate’s purchasing power, it does reduce USA’s incidences and extents of poverty which is of economic benefit to our entire nation and is particularly financially beneficial to USA lowest earning employees and their families.

I’m a proponent of the federal minimum wage rate being "pegged" to a price-cost index number. This has successfully retained the purchasing powers of Social Security retirement benefits and it would do the same for our minimum wage rate.

Respectfully, Supposn
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Re: The federal minimum wage rate bolsters All wage rates.

Postby Supposn » Mon Sep 26, 2016 10:37 am

The federal minimum wage, (FMW) rate is of net social and economic benefit to our nation. It has never been among the major causes of the U.S. Dollar’s inflation; on the contrary it’s certainly among inflations’ victims.
No individual is poorer and no enterprise suffers any competitive disadvantage to any USA enterprises due to the FMW rate.

[there’s no doubt that USA’s higher wage rates are a cause of our products price disadvantages in comparison to products from lower wage nations; but although the elimination of our FMW rate laws would be greatly detrimental to our nation’s net social and economic it wellbeing, but doing so would accomplish extremely little to remedy the global price disadvantages of USA products].

I suppose a majority of USA’s population, (significantly more than a 10% plurality) to some extent approve of federal minimum rate’s existence. There are few among wealthy or competent people that are opposed to the federal minimum rate.

An overwhelming proportions of minimum rate opponents lack self-esteem. They need whatever affirmation of their own worth that they can derive by being able to look down upon people experiencing lesser financial conditions. They cannot acknowledge or admit to themselves their own fears that improving the financial conditions of others would consequentially reduce their own social status. That’s the essence of personal and political opposition to the FMW rate.

Respectfully, Supposn
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Re: The federal minimum wage rate bolsters All wage rates.

Postby spacemonkey » Mon Sep 26, 2016 11:24 am

That should be the pay rate for Congre$$.
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