Monday, June 2, 2014

Let the Layoffs Begin: Seattle City Council Approves $15 Minimum Hourly Wage

It's official, the Seattle City Council unanimously approved the highest minimum wage among major U.S. cities on Monday, endorsing a $15-an-hour wage floor that is more than double the federal level, reports WSJ.

The Seattle measure carves up city employers into four groups and gives them between 2017 and 2021 to meet the $15 mark. The proposal would phase in the wages over three to seven years, based on the size of the employer and the benefits offered.

It is not clear why if the minimum wage does not have any detrimental effect on business activity that the wage hike was not administered in one fell swoop, immediately, for all size businesses. Could it be that deep down these loony lefties know that they are damaging voluntary transactions and exchange with these wage restrictions?

-RW

(ht  ripper188)

10 comments:

  1. I just made a video on the minimum wage. Check it out by clicking on my name.

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  2. If I'm a business owner in Seattle I start looking to set up shop in the suburbs. Still close enough to get people in Seattle to come to my business for far enough from the council's grasp (in theory).

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  3. NYCynic- how dare you respond to market forces!

    It's obvious- the government MUST mandate a $15/hr wage everywhere. Only mean people will disagree.

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    1. "Only mean people will disagree."

      Ah, yes. Emotions. Tears, rage, and stamping of little feet should always trump logic and reason, yes? Can you believe these people?

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    2. See. This is why the minimum wage must be raised nationally, not locally. Local wages is just a race to the bottom as businesses move to wherever the lower minimum is. Or so the argument for the ever growing federal leviathan goes.

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  4. People who read this blog don't seem to understand that you can overturn economic "law" if you just care enough, make enough signs in protest, and march around with your fist in the air...as a rebel...full of righteousness...and DEFIANCE. Booyah!

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    1. If you just change the culture so that people are more altruistic and think less about efficiency, then everything will be better. These types of programs to help the poor will totally work...right?

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    2. tell that to the 'Occupy' movement. That sure worked out and led to reform.

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  5. If be more impressed if they made the maximum wage $15 an hour. Then we'd really see the effect of labor price controls.

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  6. The Seattle measure carves up city employers into four groups and gives them between 2017 and 2021 to meet the $15 mark. The proposal would phase in the wages over three to seven years, based on the size of the employer and the benefits offered. coco palms condo

    ReplyDelete