I wonder if you looked at other wage classifications (like the wage paid to
construction workers, engineers, teachers, medical doctors, pharmacists,
dentists, lawyers, or any other group), if you would find that their buying
power, or value of their wage, has decreased or remained constant over the
years. It may be that minimum wage is tracking in line with other wage
classifications, and that all are suffering the effects of inflation. In other
words, the value of the minimum wage isn't unique, and that raising it
won't solve the problem. And if it doesn't solve the problem (but may
even contribute to it) why bother with it.
@srwYou've proved my point exactly. Raising the minimum wage
doesn't bring people out of poverty because it doesn't increase their
buying power. Raising the minimum wage forces companies to raise their prices
which makes things more expensive for the consumer. That's what inflation
is.So as you can see, minimum wage hikes do nothing but drive up
inflation while leaving the poor with low purchasing power, hence they stay
poor. Meanwhile the inflation hurts everybody who is not making minimum wage
since they don't get a mandatory raise. So remind me again why Obama wants
to raise the minimum wage? Oh, that's right, it's called vote buying.
Seems like the minimum wage has essentially remained the same since 1990. Any
"hikes" in the minimum are really just keeping up with inflation which
seems fair to me. Many of the people I know who earn minimum wage do not
have the tools and resources to negotiate a contract without being taken
advantage of. These are the people that I think the minimum wage laws are trying
to protect. If an employer is unhappy with the work of his or her
employees the employer can always fire the employee and hire someone else.
Robin said, "And through all the minimum wage hikes, poverty has continued
to increase. So clearly raising the minimum wage does not decrease poverty like
a certain administration would have you believe."I don't
want to defend any administration or argue in favor of raising the minimum wage,
but your statement makes no sense. The graph shows that the inflation-adjusted
minimum wage has been going down or staying roughly constant for 45 years. How
can you conclude that raising the minimum wage doesn't decrease poverty if
the minimum wage hasn't really been raised (in terms of buying power)?
Laws setting minimum wages are nothing but a political trick which forces
employers to spend their money, which only comes from raising the prices of
their goods and services. But it temporarily gives the illusion of helping
workers, and wins votes. Inevitably, the price increases necessitated by the
increased minimum wage wipe out the increased buying power. Of
course, the gullible low information voters are fooled by these schemes and
reliably vote for the folks giving them any sort of "free stuff."If setting a minimum wage of $10.00 is good, why not set it at $50.00
and let everyone live a luxurious life instead of just getting by? Of course,
that is silly and impossible. But no more silly or impossible than raising the
minimum wage just a little bit at a time.Eliminate all minimum wages
and let workers and employers negotiate the fair market value of their labor.
Some will deserve raises, and some will earn less. That is the difference
between work and merit and welfare and socialism.
And through all the minimum wage hikes, poverty has continued to increase. So
clearly raising the minimum wage does not decrease poverty like a certain
administration would have you believe.
Don't like what your job pays you?Go find another job.If you're really as valuable as you think you are, there will be
companies willing to pay for your "expertise" and hard work.