A question concerning economics & minimum wage

[BlkPaladin]

It's a horrible idea. Though I do believe something had to be done. The first paragraph is why it is horrid idea, the second is what should be done.

I live the Midwest and $15.00 is more than most industrial jobs make normally, you are talking a hike that will blow inflation out of the water since it will affect more employers than just the service industry which are usually the only market affected by a hike. Here were are talking a hike for industrial, some administrative, logistics and a lot of other sectors. That means there will be more people who just make minimum wadge, and there will be more products that get price hikes, then a second price hike, then a third as the different sectors find a new equilibrium, this is what happened in the aughts when gas prices went through the roof causing the prices of logistics to go up, then service went up, then supply went up, then service went up again. (I use service here because I work in the service industry and its prices are affected easier since they are usually set to a low price to attract customers.) And in the end we will end up in an even worse situation than we are in now, where even more people cannot live on the money they make.

I do believe something should be done but this the cost of living being so much different across the country a one sized fits all minimum wadge will not cut it any more. I'm not certain but when the minimum wadge was originally passed the average cost of living was not as diverse as it is now. So instead of a minimum wadge they should pass a Cost of Living Wadge Law that puts the minimum wadge in the hands of the state who will make regions with in the state and set regional minimum wadges. It also gives the states more tools to attract and maintain labor(population) and industry by control the wadge. So lets say in New York you can have a $15.00 minimum wadge since the cost of living is so high, but in Wisconsin you have an $9.00 minimum wadge in the south east and an $8.50 in the rest of the state.