Raise the minimum wage

Raise the minimum wage

We talked in class about the minimum wage law and how the current Democrat candidates for Presidency would like to raise it to $12 or even $15 per hour. Well, guess what? There is a city that already did that last year! Here is the law:

“The new minimum wage legislation passed by Seattle City Council and signed into law by Mayor Murray provides for an increase in the minimum wage in the City of Seattle to $15 an hour, phased in over time, beginning April 2015:

Small employers (businesses with fewer than 500 employees) will reach a $15 an hour minimum wage in seven years. Also established is a temporary guaranteed minimum compensation responsibility of $15 an hour to be met within the first five years, which can be achived by combining employer-paid health care contributions, consumer-paid tips, and employer-paid wages.
Large employers (businesses with 500 or more employees, either in Seattle or nationally) will reach $15 per hour in three years. The wages of employees who receive health care benefits will reach $15 per hour in four years.
Schedule 1 employers shall pay each employee an hourly minimum wage of at least:

$11.00 by April 1, 2015
$13.00 by January 1, 2016
$15.00 by January 1, 2017
Effective January 1, 2018, the hourly minimum wage paid by a Schedule 1 employer shall be increased annually on a percentage basis to reflect the rate of inflation and calculated to the nearest cent on January 1 of each year thereafter…” and the law continues for Schedule 2 employees.

We talked in class about the minimum wage law and how the current Democrat candidates for Presidency would like to raise it to $12 or even $15 per hour. Well, guess what? There is a city that already did that last year! Here is the law:

“The new minimum wage legislation passed by Seattle City Council and signed into law by Mayor Murray provides for an increase in the minimum wage in the City of Seattle to $15 an hour, phased in over time, beginning April 2015:

Small employers (businesses with fewer than 500 employees) will reach a $15 an hour minimum wage in seven years. Also established is a temporary guaranteed minimum compensation responsibility of $15 an hour to be met within the first five years, which can be achived by combining employer-paid health care contributions, consumer-paid tips, and employer-paid wages.
Large employers (businesses with 500 or more employees, either in Seattle or nationally) will reach $15 per hour in three years. The wages of employees who receive health care benefits will reach $15 per hour in four years.
Schedule 1 employers shall pay each employee an hourly minimum wage of at least:

$11.00 by April 1, 2015
$13.00 by January 1, 2016
$15.00 by January 1, 2017
Effective January 1, 2018, the hourly minimum wage paid by a Schedule 1 employer shall be increased annually on a percentage basis to reflect the rate of inflation and calculated to the nearest cent on January 1 of each year thereafter…” and the law continues for Schedule 2 employees.

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