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Minimum wage

Posted: Jan 23, 2015

I want to ask what would happen if the minimum wage changed to higher than it is. Would all these companies have to pay minimum wage? I know that when I asked about this from the head of the local (can't remember the title of the organization right now) that she said that they had to pay minimum wage. I have heard someone say that if they increased it to $16 an hour that people would be able to live on that. Can't remember who but he was a business expert, etc. Even if they don't increase it to $16 an hour, if they increase it at all, won't we all have to get that? ;

Minimum wage - OKMT

[ In Reply To ..]

There are consequences you need to consider when talking about raising the minimum wage. Let's say your favorite pizza place (or whatever) is owned by a local family. They make really great pizza for a good price, they hire great people who are paid minimum wage, plus tips for the servers. If the government doubled the minimum wage, or actually a little more to be $16/hr, what happens to your favorite pizza place? Most likely, it will go out of business because everything they purchase to be used in their business will go up in price. It might not happen right away, they might cut their staff down to the fewest they can manage, their quality might start going down as they try to save money on ingredients and supplies and of course, they will have to charge more for their product. This is a very basic example of what happens when the minimum wage is raised, sometimes even just a little bit. If it suddenly doubled, it would pose a real problem and in the end, no one would be any better off, and some worse than before. The cost of everything would go up, gasoline, groceries, clothing, utilities, medical care, car repair, sanitation services, magazines, you name it, it will be much more expensive. Even McDonald's would no longer have their $1 menu, it would probably be a $3 or $4 menu! It is a true catch 22 situation.

These are the things you must consider when wishing for a higher minimum wage. It sounds so wonderful on the surface, until you really give it some thought. I know, it sucks, but reality so often does, as we MTs have learned over the last few years.

Minimum wage - anonie

[ In Reply To ..]
Yes, I realize all of this.

I had wondered strictly about how it would affect MTs and their pay since we work by line rates. These companies would have to abide by whatever law gets passed wouldn't they?

The benefits of an increased minimum wage - Rising tide

[ In Reply To ..]
The benefits of a raise in minimum wage exceeds the small inflationary effect there might be. The minimum wage increases have been studied in the past and have found this to be true. Right now, there has not been a national minimum wage increase for years and that has not held down the cost of food, housing, health care, insurance, etc.; prices have continued to rise. Unfortunately our $7.25 is not worth what it used to be.

Many states have already raised their minimum wages and companies have to pay the higher of the two, state or national. The national wage needs to be increased so that the differences between the states is minimized.

There are those (MTSO's for instance), who it is in their best interest to keep the wages as low as possible. Remember that when you read posts that are trying to scare you.

min wage - mox

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Better to have a low paying job than no job. The MTSOs could send everything overseas.

and we should work for rupees - take a stand

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How low does it have to go here before people are willing to have the guts to act?

MTSO vs min wage - anon

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Yes, your transcription employer would have to pay you minimum wage, if you were not already meeting that wage by the lines you transcribe. It would be a disaster for us, I don't think the greedy MTSOs would keep us at $16 an hour for 100 lines per hour worth of work. It would definitely change the face of medical transcription completely. THey would probably make everyone be independent contractors.

If they tried anything like that - they would be sued

[ In Reply To ..]
and it would stick.

I suspect they are sending as much as they can--sm - anon

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They will send over as much as they can get away with no matter what the minimum wage is because they can still pay less off-shore than our current minimum wage.

For MTs, I would suspect that if the minimum wage were increased significantly, they would keep the employees that produce enough to make the minimum wage. Some of the companies already have make-up pay (MUP) which is what they pay employees who do not produce enough to make minimum wage. They do not like doing this so if it happens too frequently, that employee will likely be let go.

I would say keep track - sm

[ In Reply To ..]
Keep track of your previous line counts and accuracy scores and job requirements. If your minimum wage goes up and they want increased line counts, document and contact Labor Board. I plan to write letters to my congressman and state senators.

if you're a subcontractor, though... - JOttS

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MTSOs don't have to pay a minimum wage. If you make better than minimum wage plus getting benefits, you're better off not getting minimum wage... make sense? JOS

I do not believe McDonald hires IC - sm

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The nature of IC is that it does not provide benefits, 401K, or pay SS. If you are working IC, you better have all that calculated in or be happy being taken advantage of, your choice.

My post was in regards to employee status where employer must pay minimum wage. You know, where people used to have paid holidays, some vacation time and sick time, as well as at least able to put food on their table without the use of food stamps.

Make sense?

MTSO's do have to pay minimum wage. - I fought for it.

[ In Reply To ..]
Check with Dept. of Labor.

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