Published: Friday, Feb. 22 2013 12:00 a.m. MST
If the minimum wage had grown at the same rate as executive pay, it would be
over $20/hour. Management does not need to make 300 times what the
average employee of their company makes. And before you go off about
how raising minimum wage is going to increase prices, please be sure to include
in that comment why CEO pay isn't one of your concerns when discussing
prices. PS - If you look at the numbers, very few minimum wage jobs
are held by teenagers who have no financial obligations beyond themselves. PPS - Countries with higher equivalent minim wages, have lower
Ideally you are not trying to make a living on minimum wage. You will be
unhappy and miserable. Min Wage jobs are supposed to be for Kids who just
entered the workforce and start at the bottom. If you remained at the bottom
you have to ask yourself: what happened to me? If you decided not to
learn a skill that is what happened. And if you had no opportunity to learn a
skill, a min wage job can set you up for low wage management, and lots of other
things. LET NOT pander to those who want to make a living flipping
burgers. Sure raise the Min wage a bit, but not too much, its not supposed to
be a living wage.
A very thoughtful letter, and the minimum wage should be expanded to cover all
gainful employment. At the present there are portions of the workforce that are
Most adults makking minimum wage get food stamps and subsidized rent. Thing is
by raising the minimum wage you are raising prices to go with it. Businesses
particularly small ones will pass the cost on to you anyway. As for ceo's
if you bring in more money to them you deserve a pay raise yourself. Business
owners work hard so you can have jobs and products you enjoy. Are they making
you any poorer. They toil more than there employees too.
Excellent comment Maudine.Corporate profits have been steadily
climbing. CEO and Executive pay has skyrocketed.Average worker pay has
been fairly flat.From International Business Daily"Chief executive pay jumped by more than 725 percent between 1978 and
2011, according to a new report from the non-partisan Economic Policy Institute,
compared to just 5.7 percent growth in worker compensation during the same
period. The pattern contributes to the widening wage gap between the
nation's highest earners and other earners -- something the report says is
a driving factor of income inequality in the U.S."How does this
get politicized? How does anyone, Republican or Democrat look at the above
numbers and defend them? How did corporations and CEOs dupe so many
of the working class of this country to defend the disparity in pay
increases?How does anyone see a 725% increase for CEO's vs a 6%
increase for the average worker as being good for the country?Put
aside partisanship for just one minute and read what is quoted above. What does
common sense tell you?
The minimum wage would have to be raised to around $10.50/hr. just to regain the
purchasing power it had in the sixties. Since the sixties, inflation adjusted
per-capita GDP has doubled. In other words, America is twice as rich as it was
back then. So why are American workers making less money?
"America is twice as rich as it was back then. So why are American workers
making less money?"The continued flood of immigrants into and
manufacturing out of this country has made low skilled labor much more
available, thus much less "valuable". We only have ourselves to blame
for electing people who aid and abet these circumstances. If anyone thinks
hiking minimum wage a couple of bucks will help anything - they're
You really do not know what you are talking about. Increasing the minimum wage
will in fact cause job losses because employers like me will hire fewer workers
or else raise prices. (or else both will be the result). Either way inflation
is the inevitable result.
By the same logic, why should I as a consumer be forced to pay higher prices for
goods and services to subsidize welfare for low-wage workers?Funny
how liberals fail to realize that all of us pay when "corporations" are
penalized financially. Check your 401K lately for what corporations you own?
Terrific letter, making an argument I hadn't considered before. Well done.
Oh, and Rikitikitavi, no you won't. You'll hire more people.
You'll have to, to keep up with increased business. The stimulative value
of a raise in minimum wage is an accepted and established economic axiom.
@Thinkinman"By the same logic, why should I as a consumer be
forced to pay higher prices for goods and services to subsidize welfare for
low-wage workers?"If you look at what I posted earlier, you
should be concerned about you "subsidy" for the executives.They
are the ones getting a disproportional amount of the pie."Funny
how liberals fail to realize that all of us pay when "corporations" are
penalized financially. Check your 401K lately for what corporations you
own?"Corporations are actually doing quite well. And in a large
part because of the productivity gains of their workers. But CEO's and
other executives are increasingly getting a disproportionate piece of the pie.
How are they being penalized financially?
The only down side to raising the minimum wage is possible inflation.With those making higher earnings [and paying higher tax revenues and getting
less tax payers subsidized food and housing].FYI - these were a huge
portion of the 47% Mitt Romney and the rest of the Republicans were complaining
about.You don't want people "mooching" from the system,
pay them enough for them to have something to contribute.
@Rikitikitavi"Increasing the minimum wage will in fact cause job
losses because employers like me will hire fewer workers or else raise
prices."So what you're saying is you currently pay your
workers the bare minimum and your company is so inept at earning money you
can't even afford a dollar an hour more per employee?"Either way inflation is the inevitable result."A small
percentage of the workers in this nation getting a 1 dollar/hour pay increase
would not substantially alter inflation.
"The only down side to raising the minimum wage is possible
inflation."Not really. Increasing in the minimum wage has
usually increased unemployment among young workers. Hardest hit are young black
people. Google: "WSJ The Minority Youth Unemployment Act"Also, Walter Williams and Thomas Sowell have written extensively on this
Not a single business will fail due to a higher minimum wage.Any
sane business owner will simply add a nickel or dime to their product or
service.Consumers will pay it, and will not ever notice the few pennies
more.Those who don't/won't and fail anyway, just
prove they aren't very good business owners in the 1st place, they product
or service is not worth it anyway, or they are simply looking to blame someone
else for their own failures.Gas companies flex their prices several
DOLLARS per gallon all year long, forcing consumers to pay $Hundereds more each
month, and yet - ironically - not a single conservative, Tea Party Republican
whines about that?
Raising the minimum will stimulate business, as the underclass gets more
purchasing power. There is no data to show that raising the minimum hurts
Wow, the comments here only show that most liberals do not understand
business.First, according to the IRS, the majority of minimum wage
earners are suburban teens and young college students. Why is it necessary to
raise wages for that segment of society?The biggest reason why
raising minimum wage is a bad idea is that it actually raises unemployment among
teens. See "Minimum Wages and Employment: A Case Study of the Fast-Food
Industry in New Jersey and Pennsylvania" at Berkley, "Raising the
Minimum Wage: A Tired, Bad Proposal" at National Review, and "The Young
and the Jobless" in the WSJ.Why do you liberals want to support
an idea that historically leads to fewer jobs, and more demands on those with
All of you min wage advocates should try starting your own business sometime.
Before you rip on business owners for being greedy, walk a mile in their shoes.
Try facing the day to day pressure of making payroll and paying vendors and
contractors. Maudine, what qualifies you to say how much anyone should make?
Eric, in what universe are you living where if you raise the price of something
you get more of it?
RedShirtUSS Enterprise, UTWow, the comments here only show that most
liberals do not understand business.First, according to the IRS, the
majority of minimum wage earners are suburban teens and young college students.
Why is it necessary to raise wages for that segment of society?=========== Wow, that comment only show that most conservatives do
not understand economics.To use an old Ronald Reagan Republican
aphorism..."A rising tide lifts ALL ships."That's why.
To "Open Minded Mormon" how does creating more unemployment help? Yes,
"A rising tide lifts ALL ships" but as the studies show that with
respect to minimum wage, the tide is not rising. An equally valid statement is
"a receeding tide strands all ships".As the Berkley study
found, raising the minimum wage is a bad thing and will lead to greater
unemployment.Your statements only confirm a lack of understanding.
Historically, as I stated previously, raising minimum wage laws only increases
unemployment.If you want to help the poor and get them employed you
cannot keep raising the minimum wage becaue first it increases unemployment, and
second it raises the price of the goods that we all need.You and
your ilk constantly complain that businesses move overseas where labor is cheap.
What do you think will happen when we make US labor that much more expensive?
It is well documented that the right to work states have lower unemployment.
Why is that? Could it be that the cheaper labor rates attract businesses? What
will happen when US labor rates increase?Why do you want more people
unemployed? Do you want more people dependant on government handouts?
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