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<blockquote data-quote="Bagels" data-source="post: 1185864" data-attributes="member: 43436"><p>He's slightly exaggerating, but there's little doubt that if minimum wage were abolished, companies such as Walmart would drop starting pay to $5-$6/hour in pockets of the country. For competitive reasons, its large breadth of competition would quickly follow suit. McDonald's franchises (and their competition) would drop their wage as well, seizing the opportunity to hire more workers for less money. And Right Wingers would rejoice because more jobs were created. Who cares if they barely pay enough (e.g. $11K/year for a FT worker) to cover gas to & from work? That's not what matters.</p><p></p><p>In my state, big businesses lobbied the Right to defeat a bill that would've increased minimum wage to $7.75/hour (50c higher than the Federal minimum wage). Companies like Walmart proclaimed that it was sentimental, anyway, since few of its workers earned anything close to minimum wage. During the Great Recession, Walmart forced thousands of its employees here to accept pay cuts that dropped many long-time employees to minimum wage.</p></blockquote><p></p>
[QUOTE="Bagels, post: 1185864, member: 43436"] He's slightly exaggerating, but there's little doubt that if minimum wage were abolished, companies such as Walmart would drop starting pay to $5-$6/hour in pockets of the country. For competitive reasons, its large breadth of competition would quickly follow suit. McDonald's franchises (and their competition) would drop their wage as well, seizing the opportunity to hire more workers for less money. And Right Wingers would rejoice because more jobs were created. Who cares if they barely pay enough (e.g. $11K/year for a FT worker) to cover gas to & from work? That's not what matters. In my state, big businesses lobbied the Right to defeat a bill that would've increased minimum wage to $7.75/hour (50c higher than the Federal minimum wage). Companies like Walmart proclaimed that it was sentimental, anyway, since few of its workers earned anything close to minimum wage. During the Great Recession, Walmart forced thousands of its employees here to accept pay cuts that dropped many long-time employees to minimum wage. [/QUOTE]
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