Monday, July 22, 2013

What If The Minimum Wage Was $12.00 or More?

Most people that I know aren't rich...Not even close...but make a little more than minimum wage...Ever wonder what it would be like if the minimum wage was $12.00 or $12.50?

Take a moment and look over these six points... I read about this in the Huffington Post yesterday...
So Check it out-

Here are some key takeaways from the report:
  1. More than 700,000 American workers would be lifted out of poverty
  2. More than 1 million retail workers and their family members live in or close to poverty. By raising the minimum wage of full-time workers to the equivalent of $12.25 per hour, 734,075 people would be lifted out of poverty and an additional 769,191 people living near the poverty line would see their incomes rise to more than 150 percent above the poverty line.
  3. GDP would rise by as much as $15.2 billion
  4. A wage increase to $12.25 an hour would impact more than 5 million workers and their families. As these families have access to more money, they will spend more, translating to as much as $15.2 billion in new economic activity, according to Demos.
  5. 132,000 new jobs could be created
  6. If the increase in economic activity reached $15.2 billion, retailers would need 132,000 new employees.
  7. The wage increase would actually only cost retailers about 1 percent of total sales
  8. Large retailers would need to absorb the higher labor cost for the 3.5 million workers earning less than $12.25 per hour. But according to Demos, most of this increase in costs would be returned to the firm in the form of productivity gains and increased revenues, amounting to only 1 percent of their total yearly sales.
  9. It would generate as much as $5 billion in additional retail revenue
  10. In fact, assuming that low-income families spend rather than save the money from the wage increase, retailers could expect at least 20 cents in new revenue for every additional payroll dollar. That would have added up to as much as $5 billion in 2012.
  11. The average shopper would pay just 15 cents more per shopping trip at most
  12. Even if the nation's largest retailers decided to pass off the cost of a $12.25 minimum wage increase entirely to customers, Demos found that an average household would spend just 7 to 15 cents more per shopping trip.
    Why aren't politicians aware of this?  How come no one is telling you this?? Things to think about the next time you go to vote.


Grover Tha Playboy said...

Works for me!

Jazzy said...

I'd be with it!


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