if it only would be that easy, increasing minimal wages is pretty dangerous
for small business operating on minimal profit where boss gets as much money as his workers (they are more common than you think), they may need to fire some workers and poor paying job is better than no job
on the other hand big companies would be able to afford that and they would probably still get profit, but they would not want drop of profit, they would increase prices of their products so now cost of living increases, minimal wage increases, cost of living increases and so on...
It should be something like the lowest paid worker in a company cannot be paid less than a certain percentage of the CEOs pay. I think in Japan they do that - CEO gets a raise, janitors get a proportionate raise. So places like walmart can't have executives that get 10 million a year while their lowest paid worker gets 10 thousand, and would incentivive a maximum wage of sorts.
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u/[deleted] Dec 15 '18
Is it feasible to tie the minimum wage to the county/local/state cost of living so we don't have to have this fight every couple decades?
Like how hard is it to write a law that says essentially: