Quote:
Originally posted by Professor:
Good Morning Brothers and Sisters,
I was listening to the radio on the way to work this morning and the newsperson stated that somewhere in California the minimum wage was raised to $12.00 per hour. Can you imagine that! Now my field is not economics but can someone help me with this. I believe poverty or poverty level will always exist. Therefore, I don't understand why the minimum wage is raised or economics of this act. For example, if the minimum wage is $12 then surely a professional job if equated to an hourly rate has to be like $40 per hour or more. Additionally, if you raise the salary of the poor then salaries of others are surely to increase. In essence, the poor will remain poor and the rich remain rich - - I think!
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By George, I think you've got it, man!
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