Clearly there is not a sustainable pay for many workers. $8 an hour is not enough to survive. $10 an hour is not enough to survive. With the cost of living the minimum wage needs to be a lot higher. However comes the issue of small businesses not being able to pay their employees. Also the greedy big businesses will just punish their consumers by raising the prices. So just raising the minimum wage would be bad, and would hurt more than it helped.
There are a couple of options. One - Don't raise the minimum wage, but set a cap on how high business can raise the prices of their goods and services, so that they can't extort consumers. And also set a cap on the amount of product that large corporations can purchase, to keep a more level playing field with struggling smaller businesses that don't have their purchasing power and would have to raise prices to compete.
Or require large multi billion dollar companies run by billionaires that could afford to pay more to pay more. Wal-Mart should have to pay higher wages. But smaller companies that made under a certain amount to be exempt from the higher wage pay.
The same way we handle taxes. People that make enough money pay taxes, and those that don't - don't.
Clearly there is not a sustainable pay for many workers. $8 an hour is not enough to survive. $10 an hour is not enough to survive. With the cost of living the minimum wage needs to be a lot higher. However comes the issue of small businesses not being able to pay their employees. Also the greedy big businesses will just punish their consumers by raising the prices. So just raising the minimum wage would be bad, and would hurt more than it helped.
There are a couple of options. One - Don't raise the minimum wage, but set a cap on how high business can raise the prices of their goods and services, so that they can't extort consumers. And also set a cap on the amount of product that large corporations can purchase, to keep a more level playing field with struggling smaller businesses that don't have their purchasing power and would have to raise prices to compete.
Or require large multi billion dollar companies run by billionaires that could afford to pay more to pay more. Wal-Mart should have to pay higher wages. But smaller companies that made under a certain amount to be exempt from the higher wage pay.
The same way we handle taxes. People that make enough money pay taxes, and those that don't - don't.