What are the issues related to the Minimum wage? Is it fair or not? How does it affect the economy in Michigan
Answer:
government wants to make sure every one have at least some money to spend in this way they will make sure, lees people are living under poverty line,
for example assume one Manufacturer needs 50 workers, and there is 500 people who, needs those jobs, so manufacturer will say he will pay 500 dollar per months, so usually demands for those jobs will decrease, but still people needs money ( jobs) and demands is higher than position, then manufacturer will reduce the salary to 300 dollar per months so demand would reduce and reduce, and the manufacturer will reduce the salary until the demands and quantity of jobs become equal , ... because people will say 100 dollar per month is better than nothing
but some one will say we will go and find an other job..
I believe its really unfair, but when the government set minimum wager for example 1000 dollar per month for each month, if the demand for job be higher that available jobs the manufacturer can not reduce the salary and he/ she has to choose between those people who needs those jobs.
i believe setting the minimum wage is fair ,and is help full for those uneducated people and who can not have their own business and they needs to workd for others
I think we should have a maximum wage in this country. It would stop the wealth addicts from robbing the poor.
Michigan's minimum wage law is already higher than the scheduled Federal increase and was already put into effect on July 1. As Michigan's minimum wage was already more than the new Federal standard scheduled for July 24, the new Federal standard will have no effect on the Michigan economy.
Michigan employers employing 2 or more employees who are at least 16 years old are required to pay the Michigan minimum wage of $7.15 per hour beginning July 1, 2007. The federal minimum wage is set to increase to $5.85 per hour July 24, 2007, but is less than the required Michigan minimum wage; where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wage rates.
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