- Nov 4, 2000
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Local workers and businesses had similar mixed reactions Tuesday to the state Senate's override a day earlier of Gov. George Pataki's wage increase veto. The Assembly already overrode the veto in August. So the state's minimum wage will jump from $5.15 an hour to $6 in January, to $6.75 in 2006 and to $7.15 by 2007.
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I don't see how workers all think this is going to be a good thing...
Basic economics says if you put more money into the pockets of consumers, but accomplish putting it there only by forcing their places or work to charge more, then those same businesses are going to raise prices to compensate for the additional costs.
Ripple effect sucks for those of us that worked our way up past minimum wage and will now see no increase.
