Pretty interesting wage direction based on deflation. Of course, the savings are minimal to the business owner and I would suspect the cost to administer the decrease would outweigh actually doing it. In addition, while I'm not advocating "social responsibility", for a few cents I would leave it as it.
I guess this article just confused me because in writing my paper on minimum wage, I was given the impressen that federal trumps state. So states can raise there minimum wage higher then the federal if they see fit but it can never be lower. So how is it that Colorado is now able to have a minimum wage 1 cent lower then that federal rate? Maybe i'm just reading the article wrong and getting confused, but what's the point of lowering something below the federal level if it can never be enforced?
I am agreeing with ashley,while doing my paper on minumum wage i was under the assumption that a state minumum wage could not be lower than a federal minumum wage. I feel that there is a federal wage so that people can live in a healthy standard of living, giving that they set a wage so accomidate with the prices of goods and services and people can afford things. Having a state minumum wage lower than federal doesn't seem fair to me.
I do not welcome the idea of lowering wages for any group of individuals who are already paid at the federally established minimum level. However, I am for the idea of lowering the cost of living. The state of Colorado is lowering the minimum wage by a few cents since the cost of living has decreased. Which is great news! This should help to offset the costs of small businesses over a long period of time.
I actually like Colorado's inlfation adjusted minimum wage. Let's be honest the rate only fell 3 cents per hour and i doubt that is going to hurt anyone in the long run. You have to remember the minimum wage was decreased because the cost of living went down. So, in return, i expect Colorado to raise the minimum wage when the cost of living increases. In the end, this will help thousands of low-wage workers because they can keep up with the cost of living! Robert Fitzsimmons
Colorado's modified minimum wage is not a huge difference from the previous rate. I think it was not such a bad idea to decrease the minimum wage because in turn the cost of living will diminish. In the article, Hanna mentions there will be a significant effect on poor employees-- but I think that his attitude is ridiculous because like I stated before the wage rate did not drop dramatically. It would of been worse off for low-income workers to have a large portion of their wages cut, and in a way it balances out because their cost of living has reduced.
This was very interesting. This is the first I have read that minimum wage dropped somewhere. I am usually for raising minimum wage, but I guess this was a reasonable reason to drop it. Since the cost of living went down, stores and businesses are trying to save as much money as they can. And to be honest, 3 cents barely puts a dent in someone's paycheck. So they should be alright.
This was confusing to me. I thought that minimum wage is one flat rate. This did not make sense to me and from what i know on minimum wage im not sure i understand who it is going to help reducing the minimum wage with the rate of inflation.
Pretty interesting wage direction based on deflation. Of course, the savings are minimal to the business owner and I would suspect the cost to administer the decrease would outweigh actually doing it. In addition, while I'm not advocating "social responsibility", for a few cents I would leave it as it.
ReplyDeleteI guess this article just confused me because in writing my paper on minimum wage, I was given the impressen that federal trumps state. So states can raise there minimum wage higher then the federal if they see fit but it can never be lower. So how is it that Colorado is now able to have a minimum wage 1 cent lower then that federal rate? Maybe i'm just reading the article wrong and getting confused, but what's the point of lowering something below the federal level if it can never be enforced?
ReplyDeleteI am agreeing with ashley,while doing my paper on minumum wage i was under the assumption that a state minumum wage could not be lower than a federal minumum wage. I feel that there is a federal wage so that people can live in a healthy standard of living, giving that they set a wage so accomidate with the prices of goods and services and people can afford things. Having a state minumum wage lower than federal doesn't seem fair to me.
ReplyDeleteI do not welcome the idea of lowering wages for any group of individuals who are already paid at the federally established minimum level. However, I am for the idea of lowering the cost of living. The state of Colorado is lowering the minimum wage by a few cents since the cost of living has decreased. Which is great news! This should help to offset the costs of small businesses over a long period of time.
ReplyDeleteAdrienne Oladipupo
I actually like Colorado's inlfation adjusted minimum wage. Let's be honest the rate only fell 3 cents per hour and i doubt that is going to hurt anyone in the long run. You have to remember the minimum wage was decreased because the cost of living went down. So, in return, i expect Colorado to raise the minimum wage when the cost of living increases. In the end, this will help thousands of low-wage workers because they can keep up with the cost of living!
ReplyDeleteRobert Fitzsimmons
Colorado's modified minimum wage is not a huge difference from the previous rate. I think it was not such a bad idea to decrease the minimum wage because in turn the cost of living will diminish. In the article, Hanna mentions there will be a significant effect on poor employees-- but I think that his attitude is ridiculous because like I stated before the wage rate did not drop dramatically. It would of been worse off for low-income workers to have a large portion of their wages cut, and in a way it balances out because their cost of living has reduced.
ReplyDeleteThis was very interesting. This is the first I have read that minimum wage dropped somewhere. I am usually for raising minimum wage, but I guess this was a reasonable reason to drop it. Since the cost of living went down, stores and businesses are trying to save as much money as they can. And to be honest, 3 cents barely puts a dent in someone's paycheck. So they should be alright.
ReplyDeleteThis was confusing to me. I thought that minimum wage is one flat rate. This did not make sense to me and from what i know on minimum wage im not sure i understand who it is going to help reducing the minimum wage with the rate of inflation.
ReplyDelete