Would increasing the Federal minimum wage help or hurt the economy?
I live in a small rural area most jobs are at or near min wage most of the businesses have shut down because no one can afford to buy anything it would help many more people to have people making a living wage and spending their money
How many of you could pay any bills on $7.25 an hour?
Germany's economy has been so great that they've been one of the most financially exceptional countries in the EU WHILE having to pay off gigantic war debts from WWI and WWII. They don't even have a minimum wage, and unemployment is low because people have to get off their asses and work.
I've got an MBA, and the issue is NOT raising pay for minimal skill and education. It's keeping up with the rising cost of EVERYTHING, especially in the contiguous 48 states. How's that annual government oil stipend working out for you in Alaska?
Allowing the market to dictate the wage and slavery are opposite ends of the spectrum. Your extremism gets in the way of good judgment.
Then go get yourself a skill, work hard and get a promotion or raise, go to college, if on unemployment get a job (any job), just stop your whining about how little you make. If you don't like what you make do something about it! Just stop expecting others to do it for you.
Everybody is willing to be a slave if that's the only thing available. If your choices were work for twelve hours a day or starve, you'd be making widgets for sure.
Rather than cite what they regard as obvious--that raising the minimum wage has negative consequences on prices and wages, I would suggest that those who harbor no doubt about their position, consider the evidence in the studies that have tried to answer the question objectively.
Yes , thanks, Jamsandwich, for citing an empirical study on the matter rather than resort to "common sense" or Econ 101 notions of how a perfectly efficient economy should work. Our economy is not perfectly efficient, so analyses of the affect of a wage (or price) adjustment has to consider how they
If someone is poor then you attribute their poverty to a lack of initiative, or laziness. If you know the people who are left out of the economy, you will find that they work hard. The "rich are rich" and the "poor are poor" because of the accident of where they are born u
Geez, why not go get a better education or skill to make more money rather than demand your government raise your pay for minimal skill and education.
So you think it's either slavery or some random wage the government sets?
Price floors create surpluses, therefore there will be a surplus of workers, or unemployment will rise. That's econ 101 for you.
Those that also make 'minimum wage' are more likely to spend $ more (if they make more) ... Progressing the consumer/buying relationship... Or should we make them slaves where their $ only goes to their owner for goods (hmmm.... Walmart)..?
Hey "responsible" from Minnesota.. Your minimum wage in your state is $3 an hour less than what it is in my state... Also known as close to 30% lower... Have you EVER tried to live on minimum wage or unemployment? If so, then you understand how little it is, if not... Shut your mouth!
"Hurt" as in increase unemployment. With anything, if you charge more for something you will reduce demand for it.
I don't think it would really help because when the minimum wage goes up, minimum prices go up to match. Folks would essentially be in the same boat as before.
At least we have more proof of the failing public educational system in the US: all of the people who are under the impression raising the minimum wage would hurt the economy.
Actually, it means higher prices for consumers because most minimum wage jobs need to get done (ie: washing dishes). So the cost is passed along to the buyer.
If the minimum wage is so critical, why are 97% of all workers paid more? If the federal government has to dictate a wage, why are all of these big, bad companies paying so much more to their employees?
About 3% of all workers who are 16 years old & older are paid at the minimum wage and a high % those at minimum wage are in high school. Having a job in high school is great life training. A higher minimum wage means fewer jobs available for them.
Oh and the dear leader went and took a Coptic Christian, in the middle of the night, and threw him in prison to appease the Jihadists. Isn't he wonderful?
And how Barack Hussein Obama ignored the warnings and threats in Bengazi. Then blamed a video, and apologized, to the Islamists for attacking America on the anniversary of 9/11.
Hurt. What's the point of a raise if you don't have a job?
Thank you nuwriter and tjm it's good to know some people understand business
Slavery? You really are paranoid aren't you? Producers cannot create revenue without workers and no one is willing to be a slave. Supply and demand still works.
APH ... I suggest you re-read your posts before hitting submit! You are the one who made the idiotic comment.
You do your cause no good when you deny the facts and offer no solutions.
Holding illegals responsible for their crime is the first step in solving the problem illegals have created!
Patriot ... now you're talking! Lets see some teens willing to put out some sweat and let's send the illegals home in the same manner their home countries deal with illegals!
It's time to stop pandering to people who break the law.
Raising the minimum wage would only raise the prices that the poor pay for goods and services. It would hurt the economy.
MrO is bankrupt if ideas and we're in for four more years of trouble. Lets just hope we can recover from this Democrat mess!
And Billy wasn't distracted from the intelligence, right? Mr Clinton faithfully gathered and acted on the intelligence before childishly removing the 'w' keys from all keyboards, right?
Face it, the history is just that. The present is that we have a failure for president.
Yes, there will always be a minimum, but if the gap between rich and poor grows enough, historically speaking, you will have a revolution
I love how republicans like to draw parallels to Greece despite the austerity. Right? Leave all the austerity cuts out it...because thats counter to my point... Kind of like GW and ignoring every intelligence report leading up to 9/11
Explain why the GOP has created how many jobs in the last 20 yrs w/ what? Voodoo economics (coined by GHW)... How does the anti worker pro business model work?
Explain the 20 before that?
Yes, you're right.... Every time the GOP had jacked everything up, a dem comes in to clean up the mess... Explain the last 12 years???
... They do. Everyone sees this "apocalypse" coming, especially with Obama in office... I wonder if they see they are on the wrong side of it... This app is so right wing batshit crazy, idk
If you comprehend reality. Do you really think the disparity will be good for anyone in the long run?
You're righ... Although I have a cushy job... Why don't you f*ck the lil guy... That should be ok, right. I'm sure eventually, you'll be the lil guy, at least I hope so. It's great when execs take millions in bonuses while working next to nothing and raping the lil guy who works 10x as much as...
How about you make an ignorant statement devoid of all reason?
How about this! Give the minimum wage jobs to teenagers who are looking for a starter job, and take it away from the illegal immigrant who gives crappy service!
Ya or pay the idiot at McDonalds more who can't get my damn order right because he can't speak English.
Hell lets pay the dumb ass collecting carts in a parking lot $20/hr, that will solve all our nations problems. What a bunch of ignorant bastards, why the f*ck should we reward those who have no desire in improving themselves by getting an education with more money for doing unskilled labor?
Gotta love polls such as this to remind us all how truly incompetent democrats are
The market would determine a rate of zero dollars and zero cents. The most efficient use of labor capital is slavery.
Increasing the minimum wage creates a price floor which creates a surplus of unemployed workers. It has unintended consequences by killing the jobs of those you think you are trying to protect. The only one that benefits from the increase are unions. Let the market determine the wage.
Pelosi says we need to spend more on unemployment to stimulate the economy. It's the same book.
That high dollar burger has to cover the cost of the 99 cent stuff. Another 35% is food cost, then there is insurance, rent, advertising, utilities, repairs, taxes and other costs. By the time everything is paid there is about 10% left. Wait till Obamacare kicks in, it will go way up to cover that.
If labor cost is 25% at minimum wage and a typical combo costs $7.50 then each employee produces 4 per hour.
They can be more productive, combos can cost less and they can make more money.
Then the cost of nearly everything goes up and the minimum wage worker has no more buying power and everybody else has less. Every time minimum wage goes up so does the number of people below the poverty level. Liberals don't understand enough about economics to comprehend the correlation.
The labor cost at a fast food restaurant is typically 25% of the total sales. Unlike a full service restaurant that only pays $2.15 an hour and the customers pay the rest of the labor costs through tips.