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originally posted by: SlapMonkey
a reply to: Hefficide
So you're saying that a CEO of a corporation that employs tens of thousands of people knows nothing about labor issues other than minimum wage?
You do know that the Department of Labor does much more than just mandate what private companies should pay their employees, right?
The purpose of the Department of Labor is to foster, promote, and develop the welfare of the wage earners, job seekers, and retirees of the United States; improve working conditions; advance opportunities for profitable employment; and assure work-related benefits and rights. In carrying out this mission, the Department of Labor administers and enforces more than 180 federal laws and thousands of federal regulations. These mandates and the regulations that implement them cover many workplace activities for about 10 million employers and 125 million workers.
I hope that you are just being flippant about this, but when the OP tells you that you make a good point, it concerns me.
I hope that other threads about this topic don't get shut down because this one already exists--that'd be a waste of what could actually be a good thread on this topic.
originally posted by: bigfatfurrytexan
a reply to: reldra
"Not kept up with the cost of living" is a different way of saying, "The dollar is rotting slowly and is a shadow of what it was when todays retiree's first starting saving for retirement".
The minimum wage increase is a band aid meant to cover up this fact. Same as "cost of living" increases for SS recipients. The dollar rots and loses purchasing power against real goods.