Pete C. wrote:
Do
you
feel a kid in high school, lacking skills of any kind, is worth over $7
hr
to serve burgers? I don't.

Do you think a UPS driver is worth $28 hr? I don't.





Harold

You seem to have no clue how the economy works. I don't claim to be an
expert, but the wages have always been self leveling in any given area
and are linked to inflation.

If you raise the minimum wage, this triggers inflation which raises the
cost of goods, raises other wages that are above the minimum and things
reach the same balance point as before where the same work will buy you
the same goods, only the dollar amounts have changed.



Pete C.

Is a high school kid worth $7 / hour? Well I think they probably are.
When I was in high school, I had a minimum wage job the summer I turned
16. I started at 92.5 cents an hour but the minimum wage went up and
soon I was making over a dollar an hour. I think it jumped a dime to
$1.025 per hour. But exactly how much was I getting? Even at the
lower wage, I was making 18 cokes an hour. Cokes being $.05 at the
time. Today Cokes are at least $.50 from a coke machine. So my wages
were the same as $9 / hour.

At the time tuition at Harvard was $250 a year. Now it is more like
$25,000 a year. So my wages at the time were worth $100 an hour in
terms of college tuition.


Dan