Social Security makes assumptions based on your continuing to work at your current wage level.
Yet the general wage level is set not by specific sectoral productivity but by general productivity across the economy.
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In October of 2011, the government raised the minimum taxable wage level by about 10%, immediately enlarging the spending power of millions.
Yet, the impact of increasing the minimum wage goes well beyond the 3.8 million Americans directly affected as it is estimated that some 28 to 30 million Americans would be benefited as those working above the minimum wage level would experience increases in pay to keep them ahead of those on the lower wrungs of the company employee ladder.
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One would strengthen the rights of firms and staff to negotiate company-level wage deals.
But despite their success on the pitch, they have struggled to attract crowds large enough to sustain a Conference-level wage budget.
States that had no state-level minimum wage were most affected by all three stages of the federal minimum wage hike.
Wage competition at that level is futile.
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He is also quick to add that his wage is not at poverty level.
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The unions, supported by former cabinet ministers, are fighting a proposal to replace collective wage agreements with company-level ones, a reform that would make it easier to fire workers.
If the minimum wage is kept to a reasonable level, it can be a good idea.
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Abraham looked at five job positions in each branch, from tellers at the low end of the wage scale, to mid-level officers, to executives.
At the diplomatic level, foreign governments wage lawfare by pressuring the United States to become party to international regimes that assume decision-making authority in critical areas.
Even though the minimum wage has been at the same level for many years, he adds, the government has continued to provide tax breaks for small-business owners.
The indexation should be to the average wage, not to the general price level.
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Unemployment in the U.S., which is running at 8.1%, means there are people available to work when jobs open up and the rate is at a level that there is no wage pressure.
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The president and other champions of a higher minimum wage clearly recognize the value of entry-level work.
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Whatever level is chosen, a minimum wage cannot help the jobless, and might well increase their number.
Wage income is taxed progressively at the individual level, with a top rate of individual tax of 35%.
Guest workers would be paid a wage similar to American workers with the same level of experience, according to the AFL-CIO's understanding.
Lott says any increase in the minimum wage will cause the loss of entry-level jobs and that, in turn, hurts small businesses.
Wage growth is running at less than half the level of inflation.
If the Fed continues to keep a lid on the growth of nominal incomes, slow wage growth may eventually bring real wages down to a level required for full employment.
Eighteen states and the District of Columbia have minimum wages above the federal level, and 10 states index their minimum wage to inflation to automatically rise with the cost of living.
Currently, I see profit margins almost 20 percent above their normalized level, elevated by tight expense control and minimal incremental wage expense.
At that point the median full-time wage will be 7.4% lower than it was in 2008 level.
Even supporters of the minimum wage worry about the implications of pushing it a lot closer to that level.
The national minimum wage is more worrying, though just how much more depends on the level at which it is set.
Professors Even and Macpherson address this by using variation in state-level minimum wages to estimate the impact of the federal minimum wage hike on legal minimum wages in the states.
There was frustration at public sector wage reductions and the termination of many benefits, although at a grass roots level it was accepted that the economy was in a mess.
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