McDonald's goes more to touch screens for food ordering
Introductory economic theory shows that if you have ways of producing a product, and the price of one of them goes up - you are more likely to substitute to the other.
With the unemployment rate among teenagers already sky high (well over 25%), I wonder how long it is before policy makers on both the left and right realize their minimum wage laws are causing some of the pain felt by this economic downturn.
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I would like to comment about the minimum wage. Please those of you that do not believe in a minimum wage do not spread misinformation about it. Did you know that in states where their minimum wage laws mirror the federal minimum wage laws you can hire and pay anyone under the age of twenty 4.25 hour for the first ninety days that they are employed. Let me repeat that' Did you know that in states where their minimum wage laws mirror the federal minimum wage laws you can pay anyone under the age of twenty 4.25 hour for their first ninety days that they are employed. Well now you know ok. Did you know that most states make exceptions for very small companies that have sales below 1 million dollars a year. These companies are not even required to pay the minimum wage. This would most likly be over half of all small businesses in the united states in other words over half of all the small businesses in the country are exempt from paying the minimum wage. Well now you know ok. I would suggest a simple solution to the minimum wage issue. Instead of requiring a company to pay the starting minimum wage of 7.25 hour allow them to phase it in by simply starting a employee out at 6.00 hour 5.75 for anyone under eighteen and than increasing their pay by 25 cents a month until it reaches 7.25 hour. It will take five months to reach 7.25 hour by doing this it will give the employer a little bit of time before they are required to pay the full amount. In other words while the employee is learning the job and is not yet as productive as the more experenced employees they can be pay a lower rate of pay for up to five months. I would also make exceptions for seasonal workers that are employed only for 60 days or less they can be paid 6 dollars an hour for up to sixty days. 5.75 hour if their under eighteen. I believe that this is a very reasonable compromise between the employee and employer. One other thing their is overwhelming public support for the minimum wage. Illinois had a referendum on increasing the minimum wage on the ballot over 85% of the voters supported increasing the minimum wage.
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