Amendment 70 does not, indeed it cannot, lead to increased prosperity for the State of Colorado. It will in fact hurt the very people it is intended to help.
Post Tagged with: "minimum wage"
It’s a frequent misconception that businesses “absorb” certain costs. They don’t.
There’s no such thing as a free minimum wage. The effects include throwing some people out of work, who will then get the real minimum wage of zero.
Instead of delivering the promised “living wage” of $15 an hour, economic realities created by the new law have dropped the hourly wage for these workers to zero.
If the minimum wage helps people live, it creates more jobs, it does all of these wonderful things by itself, then why stop at 15 dollars an hour?
Colorado is one of 19 states in 2013 that have minimum wages higher than the federal standard. In every state, the law establishing the higher wage applies. In other words, if the federal rate goes to more than $8, that would prevail here even though our minimum is in the state constitution.