Скачать или смотреть 20 States Raising Minimum Wage, what’s the impact?

In our Money Matters segment this week we are looking at how in just 3 days 20 states nationally will be raising their minimum wages. Some like our neighbor to the east in Ohio are raising the wage by just 10 cents, whereas California is raising it by $1. It’s a bit of a polarizing topic that people debate. To join us to sort out the good and the bad is Mike Reeves of Strategic Wealth Designers. Mike, Indiana isn’t on the list but minimum wage hikes do have an impact, is this going to be a good thing or a bad thing in 2021 and beyond?

Those for the increases say that everyone deserves a certain standard of living. On the other side, you have those who point to how raising wages to high just ends up putting people out of jobs. You see places where ordering at kiosks occur instead of ordering from a person because those positions have been replaced with technology. Who’s right? Is it the wages, is it the potential job loss, or somewhere in the middle?

We always hear that ‘prices are going up’, and the ‘back in my day this cost’ etc….. but it seems things are rising quicker now. Do businesses just operate under a slimer profit margin to offset the cost or will costs continue to rise and the value or the dollar deflate because of wages rising?