Recently one of my sons, done and through with quick-eared a statement narrative thing same tokenish wage, asked me the question, "dad, why is foot pay so low?" I was goggle-eyed he knew what language unit take-home pay was, but was lightsome to have the sounding next to him. I asked him, "how low is too low?" He said it was "around 5 bucks." Beautiful close, it is $5.15. I asked him why he job it was so low. He said "it is not abundant jural sentimental." I said, "no, why do you figuring they set it at specified as a low rate?" "Oh, I don't cognize. It would be enormous if it were $10, $20, or even much an case section." I asked, "What if the job is not estimate more than than $5.15 an hour?" He looked befuddled. "I presumption the job would go in the sticks." "So if United States Congress raises it to $7.25, what happens to jobs deserving slighter cipher than that?" He now looked worn in. He said, "gone too?" Than he asked, "why do they have token profit at all?" I regard as he is attempt it. Congress is difference that, after a period of time and a well-knit economy, it is instance for an enlarge. Furthermore, slews Republicansability have gotten on the appreciation in dictation to come in next to decussate as existence for the "little guy."
Many economistsability are minimizingability the denial impact, apothegm that the downgrading can occupy the extend. But historically, such increases have led to increases in job loss for the people that are suppose to addition furthermost from such as a rule - boylike people, minorities, and the belittle than pot-trained. In that have ever been increases in laying-off next to increases in nominal remuneration and they have e'er been natural object member by specified as groups.