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Little Tich

(6,171 posts)
Sat Jun 13, 2015, 10:10 PM Jun 2015

Los Angeles mayor signs $15/hour minimum wage hike into law

Source: Yahoo! News / Reuters

LOS ANGELES (Reuters) - Los Angeles Mayor Eric Garcetti on Saturday signed a law hiking the city’s minimum wage from $9 an hour to $15 by 2020, an increase that will affect hundreds of thousands of workers.

Garcetti, speaking in English and Spanish, told a crowd of hundreds at the signing event that he wanted to lift the city’s lowest-paid workers out of poverty.

"Too many Angelenos have been left behind even as we’ve put the recession in the rearview mirror," he told union representatives, immigration and activists at the ceremony.

The Los Angeles City Council approved the wage hike in May with a 14-1 vote. The law requires businesses with 25 or more employees to increase pay for minimum wage workers to $15 by 2020.

Read more: http://news.yahoo.com/los-angeles-mayor-signs-15-hour-minimum-wage-010243754--finance.html

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Los Angeles mayor signs $15/hour minimum wage hike into law (Original Post) Little Tich Jun 2015 OP
Wonderful news, now for the rest of the country! alboe Jun 2015 #1
Does this also include automatic increases afterwards for the future to adjust for inflation? cstanleytech Jun 2015 #2
From the cited article - pinto Jun 2015 #3
Good, the federal should have had that included in it decades ago rather than leave it to congress. cstanleytech Jun 2015 #4
The myth of busineses going broke vinny9698 Jun 2015 #5

alboe

(192 posts)
1. Wonderful news, now for the rest of the country!
Sat Jun 13, 2015, 10:20 PM
Jun 2015

So many companies (especially in the tech field) say they operate out of states like CT in order to pay employees less. I worked for a company who had no employees, nor the CEO, in that state, but were able to pay $10 an hour to me, who lived in California.

cstanleytech

(26,293 posts)
2. Does this also include automatic increases afterwards for the future to adjust for inflation?
Sat Jun 13, 2015, 11:03 PM
Jun 2015

If it doesnt then

pinto

(106,886 posts)
3. From the cited article -
Sat Jun 13, 2015, 11:08 PM
Jun 2015
The city council included in the law a stipulation that the city’s minimum wage should continue to increase based on the Consumer Price Index starting in 2022.


cstanleytech

(26,293 posts)
4. Good, the federal should have had that included in it decades ago rather than leave it to congress.
Sat Jun 13, 2015, 11:14 PM
Jun 2015

vinny9698

(1,016 posts)
5. The myth of busineses going broke
Sun Jun 14, 2015, 08:37 AM
Jun 2015

Clare O’Connor of Forbes.com cites the number wrangling of Arnobio Morelix, who found himself wondering if he’d have to dig into his couch cushions in a world where fast food workers make $15. According to his math — and we’re sure there are plenty of others crunching the numbers out there — if workers’ salaries doubled, that doesn’t mean the price of certain items would also increase by 100%.

Morelix found that if workers get the $15 per hour they want, a Big Mac would cost $0.68 more than it does now, up from $3.99 to $4.67. Want a whole meal? That’ll be $6.66 instead of $5.69. And the Dollar Menu would likely need to be renamed because items would cost $1.17, Morelix said.

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