Originally posted by Kris BlazeThe federal minimum will be $7.25/hour by late July. 24 states have a higher minimum than the federal law, 14 have the same as the federal, 5 have no law (and usually just adopt the federal), and 6 have a minimum than the federal (not sure how, due to the Supremacy clause of the U.S. Constitution)
I think it's a good thing for obvious reasons.How much is the American minimum wage btw?
An argument can be made that the minimum wage retards capitalism. It hinders individuals from selling their services (agreeing to work for someone) at an acceptable price (to them). If I wanted to take a 3.50$ an hour job (rather than take an unpleasant fast food job for more money) it is actually illegal for a company to hire me. That company could get two employees to do [data entry] instead of one for the same price. Productivity is (almost) doubled and profit is increased. This would (naturally) translate to lower prices which would lessen the impact of such a low paying job.
The minimum wage as is simply spreads the cost (of the minimum wage) across the different income levels- it lessens the poor's burden by increasing the burden on everyone else. The removal of a minimum wage could be offset by a negative income tax (one pays nothing [or receives money] below a certain income bracket) or some other form of welfare.
Originally posted by Red Nemesis
An argument can be made that the minimum wage retards capitalism. It hinders individuals from selling their services (agreeing to work for someone) at an acceptable price (to them). If I wanted to take a 3.50$ an hour job (rather than take an unpleasant fast food job for more money) it is actually illegal for a company to hire me. That company could get two employees to do [data entry] instead of one [b]for the same price. Productivity is (almost) doubled and profit is increased. This would (naturally) translate to lower prices which would lessen the impact of such a low paying job.The minimum wage as is simply spreads the cost (of the minimum wage) across the different income levels- it lessens the poor's burden by increasing the burden on everyone else. The removal of a minimum wage could be offset by a negative income tax (one pays nothing [or receives money] below a certain income bracket) or some other form of welfare. [/B]
Doesn't work. Minimum wage is typically barely a living wage. No one would accept less unless they wanted to starve to death. So taking out minimum wage would have the wonderfully result of killing all the poor people slowly and horribly while undermining capitalism because all the poor idiots are dead. But then, goes the counter argument, employers would pay people more so they could survive which of course raises the question of why there's a problem with minimum wage in the first place.
Minimum wage IS important because I'm sure some companies out there would LOVE to pay less than what the minimum wage IS... as long as we have minimum wage we know it can't get worse.....
until they lower it... yet again...
They just need make minimum wage higher... at LEAST 9/hr.. shit man, BABYSITTERS make at least like 10! Wtf??
Come to think of it, I'm in the wrong business....
Originally posted by Symmetric Chaos
Raising minimum wage causes plenty of problems too. If companies have to pay too much for unskilled labor it does hurt the economy. Someone pointed out earlier that minimum wage should gives exactly the lifestyle it implies and that's true.
✅ Yah, that's better.. I like this answer...
and we have a winnah!!
Doesn't work. Minimum wage is typically barely a living wage. No one would accept less unless they wanted to starve to death. So taking out minimum wage would have the wonderfully result of killing all the poor people slowly and horribly while undermining capitalism because all the poor idiots are dead.
Actually, minimum wage is often below a living wage, and many workers @ minimum wage (even working full time) fall below the poverty line. (At least for a single parent). Also, the poverty line may ' understate the income needed to support a family.'
People would not have to accept less (ideally) because their labor should not be worth less than minimum wage. If their labor is worth so little then they would qualify for federal/state aid by way of the negative income tax: they would clearly fall below the benchmark and therefore collect money from the income tax.
Originally posted by Red Nemesis
Actually, minimum wage is often below a living wage, and many workers @ minimum wage (even working full time) fall below the poverty line. (At least for a single parent). Also, the poverty line may ' understate the income needed to support a family.'People would not have to accept less (ideally) because their labor should not be worth less than minimum wage. If their labor is worth so little then they would qualify for federal/state aid by way of the negative income tax: they would clearly fall below the benchmark and therefore collect money from the income tax.
All the people who want to get rid of minimum wage condemn taxes and government aid as socialist evils that must be purged . . .
Originally posted by Bardock42
Poverty line and "living" line are different things though.
Originally posted by Symmetric Chaos
All the people who want to get rid of minimum wage condemn taxes and government aid as socialist evils that must be purged . . .
Those people are crazy. Taxes are like membership fees- if we don't pay them we can't get the benefits of being part of society. Paying taxes is something people should be proud of; by doing so one is effectively paying for teachers and firemen (both of which are, to the best of my knowledge, generally esteemed positions).
Originally posted by Red Nemesis
An argument can be made that the minimum wage retards capitalism. It hinders individuals from selling their services (agreeing to work for someone) at an acceptable price (to them). If I wanted to take a 3.50$ an hour job (rather than take an unpleasant fast food job for more money) it is actually illegal for a company to hire me. That company could get two employees to do [data entry] instead of one [b]for the same price. Productivity is (almost) doubled and profit is increased. This would (naturally) translate to lower prices which would lessen the impact of such a low paying job.The minimum wage as is simply spreads the cost (of the minimum wage) across the different income levels- it lessens the poor's burden by increasing the burden on everyone else. The removal of a minimum wage could be offset by a negative income tax (one pays nothing [or receives money] below a certain income bracket) or some other form of welfare. [/B]
However, since the poor workers have to spend money for businesses to make money, that might screw up other things (funny how after people actually "save" money everyone starts cutting jobs; I love this system! 😂 ).
Before even mentioning that, nothing u said make sense for the point of view of the regular Joe without higher education working a blue collar job.
Price of goods will not go down because the business makes money. Feel free to give examples to show otherwise.