Wednesday, 27 December 2017

Ready for New Year

Hi All,The holidays are coming to an end and 2018 is peeking from the corner. 
Ontario welcomes the minimum wage hike with mixed feelings. Along with the wage hike, will liberals bring a tax hime too? What about people already earning $14/hour? Will they see an increase or they will continue to earn the same? 
What if you are making $15/hour? Will your wage go up? 
Most people told me, the people currently earning $14 and above may not see an increase in their earnings. 
Everyone agreed on one thing: we are going to see increased prices at the grocery store. 

I believe that the increase in minimum wage is not going to do any favour for those working poor. They can be benefitted only if the prices of essentials stay the same as before. 
Some people are worried about employers cutting their hours. May be the liberals can win the next election too. But, will it do any good for the people? I am pretty sure that the person with the "hungry" board at the 401 exit on Markham road will continue to be there. 

What your thoughts about minimum wage increase? 


4 comments:

  1. I don't think it's a good idea. The structural problems you mentioned will continue to exist. Increasing minimum wage would basically redefine poverty level. Improve economy and remove inefficiencies, that is the only way to success. Everything else I agree are short term fixes for an election win.

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    1. thanks dividendgeek for dropping by. I agree that increased minimum wage will redefine the poverty line.

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  2. I actually agree with the minimum wage increase but it should include servers as well who are penalized for making tips. Lots of people make tips other than servers. I think that the minimum amount you can make as an individual and not be taxed should rise per person and per couple and that they should increase business taxes as people have gotten away with murder for years (and we own a business who pays our taxes 100% on the up and up). Who knows which government will be best for the people...no one government can do it all unfortunately. Well done on your dividends, and Happy New Year too!

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  3. I think it's a bad idea to raise the minimum wage. The people more disadvantaged by it are the working poor because their cost of living will increase disproportionately to everyone else. Grocery stores will replace cashiers with more automated checkout stations. Fast food restaurants will all adopt kiosk machines. Many workers who barely make enough now will end up making less on EI.

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