Published: Wednesday, Aug. 21 2013 2:25 p.m. MDT
Is it so hard to think that thinking has become obsolete?What
actually happens when "minimum wage" is increased? ALL prices go up
more than the difference between the old wage ad the new wage? Why? It's
because taxes are not indexed. Some of those people whose wages automatically
go up because the cost of goods have increased actually pay taxes, making their
services proportionately more expensive than the increase in wages. Buying
power goes down. The poor are hit the hardest. Those who could hardly afford to
buy a hamburger at the local fast food restaurant can't afford even that
sub-standard meal. Clothes cost more because Wal-mart is required to pay more.
Groceries cost more. Gas costs more. All basic services cost more.The wealthy will not lose money simply because the government is playing games
with taxes and wages. The poor will pay and pay and pay.
Minimum wages increase is not what moves an economy. Growth in the economy is
moved by businesses who can access capital to grow beyond what they currently
are. This same movement to increase wages happened in the 70s but it
didn't help the economy whenever a wage increase was given out to unions in
fact it hurt the economy because it just sped along the stagflation that was
caused pensioners and non union workers to suffer so bad. Raising the minimum
wage only increases the cost of business and that cost is eventually passed onto
the consumer.The path to better growth and a better economy comes
from less restrictions on business growth and capital and greater trust in the
system from investors. Right now investors are holding onto their
capital because they believe that Obamacare, government shutdowns, government
intervention in bancruptcy (ie GM, Dodge) and other anti business activities by
the government will suck away their capital until they can no longer invest.
Why not set the wageAt a hundred bucks per hour?How could this go
No. Let's reduce the minimum wage so that the "job creators" can
create more jobs that pay $5 per hour. That way they can accumulate more wealth
and buy more mansions and yachts and private jets and other great stuff.
Let's make it so more people have to rely on food stamps and can't
afford housing. Then let's call them free-loaders and cut the
"entitlements" that keep them afloat. Finally, let's blame them for
not being able to buy all the consumer goods that keep corporate America going.
This is certainly the recipe for national economic success.
Barack should make the minimum wage $100 an hour.Then we'd all
make lots of money and everyone would be rich!
Re: "Raise the minimum wage to help the economy"Help it do
what? Foolishly raising the minimum wage will certainly help it into an even
earlier grave.Add the higher cost of low-skilled labor to the
immense costs associated with Obamacare, and that would just about finish off
any chance of real economic recovery, instilling a permanent Carter-esque
malaise and high misery index as the new American normal.Why do
liberals hate the poor?
Apparent Meyerson didn't go to or paid attention while in business school.
Raising the federal minimum wage from $7.25 to $9.00 would increase
overall business operations by 19.4%, a cost that will have to be passed on to
the consumer in some shape or form. Also, with higher wages comes higher taxes
just ask anyone who has worked overtime and seen the higher tax rate they fall
into after all the overtime hours are calculated. Not to mention what happens if
the total profit margin of a business is 19.4%?If a business has to
pay a higher minimum wage, they will decide who to keep and who to layoff and
reduce their workforce by 19.4% to adjust their business model to counter the
new increase in mandated minimum wage. Minimum. Wage is not intended
to be a livable wage, hence the term "minimum". Sure there are people
who for various circumstances that depend on minimum wage jobs as their career
track, but a company is in the business of returning a profit for its
shareholders (internal and external) and not creating jobs just so people can
have a place to go.
Do any minimum wage increase propnents ever sign a pay roll? Thing is prices
will go up and should skill not government dictate what you earn?
As has been repeated ad nauseous, raising the minimum wage does not increase
buying power. The wages for everyone must be indexed up as well. If you
currently pay a nurses aide $12/hr, and now Fast food workers are getting
$15/hr, that nurses aide will want $20/hr. If individuals see those in the wage
brackets below them get a wage increase, they will want a proportional increase
in their wages as well. Overall, costs will escalate. How does this increase
buying power.LewThe truth is, no one has to work for minimum
wage. There is no agency forcing workings into jobs at a certain wage. And we
already have people in this country making $5/hr. they are those here illegally
who are willing to accept hat pay, because it is a lot more than is paid where
they came from.Why don't these advocates fight for higher
minimum wages in Mexico and elsewhere, then people would not have to leave their
countries to find better paying jobs since they believe simply raising salaries
is so easy and has no negative effects on the economy. It could only help
Sorry, but economists have studied this for years. Raising the minimum wage a
couple of dollars does NOT increase unemployment, and is NOT inflationary. Nor
is it destructive of small business--quite the contrary, in fact. But,
yes, raising the minimum wage to 100 dollars an hour would be inflationary.
I'm as fond of the reductio ad absurdum argument as the next man, but I
think most of us understand that positive measures can become destructive if
overdone. A tablespoon of cough syrup may help your cough--drinking three
gallons of the stuff could kill you.
Why shouldn't we raise the min wage?The #1 problem in this
country is that the middle and lower classes don't have enough buying power
to even buy food on their own anymore. Meanwhile, the rich have never been so
well off! Raise the min wage. Sure, some might have to settle for a 599 foot
yacht instead of a 600 foot one. But allowing the masses to have more buying
power is a good thing.
You want a higher wage, then get a better job. You want a better job, then you
should have paid attention in high school or you should have become proficient
in a skill. Again we refuse to take personal responsibility.
A raising tide lifts all ships...[Ronald Reagan]
@Mike RichardsIf McDonalds doubled wages they'd have to increase the
dollar menu to 1.17 if they passed all costs to customers. If McDonalds merely
increased wages by 2 dollars an hour instead of a full doubling that would make
the dollar menu become 1.05. Really not hurting anyone with that...
Good hyperbole conservies,Ok, lets lower it to $1 an hour and see
how many more people can't put themselves through college and take care of
their kids without food stamps. Get ready for children begging on the street.
That's how it works in conservative world.Conservatives have
the entire 3rd world to enjoy, why do they need to destroy the US too?
None of the liberals can explain how people are forced to work for minimum
wage.Why are people trying to support a family on a minimum wage
job? Why don't they increase their level of skill and education? My Brother
in law has only a GED, no other formal training, and even he got a job working
as a mechanic making $14/hr.It does not matter what the wage
increase would do to costs, it is not the businesses responsibility to pay
someone more than their skill is worth just because they struggle to live on
they wage. It is the individual's responsibility to make themselves worth
more.And a job does not deserve higher pay, just because you were making
more at a previous job, or have higher skills that are not applicable to the
current job you are in.Everyone wants to blame someone other than
themselves for how much they make. No personal responsibility at all for their
situation.I put myself in a position through a lot of education where I
don't have to worry about whether I will be able to find a job or not.
Others need to do the same.
@KVCNone of the liberals can explain how people are forced to work
for minimum wage.==================Timmy grew up in a home with a
single mother. Single parent homes aren't known for their huge amount of
resources, so it isn't a stretch to say that Timmy's mother did not
have a lot of resources to put Timmy into college. (So far not Timmy's
fault)What likely happened is Timmy dropped out of high school to
get a minimum wage job because Mom couldn't make enough to survive. (Not
smart, but really can't say I blame him)Before Timmy knows it,
his biological clock kicks in, and Timmy now has his own family. He can't
exactly quit his job and go to school (because helping Timmy would be evil
socialism, not an investment that Timmy could become someone productive in
society). And it goes on. Maybe if Timmy had been able to earn a
livable wage he could have helped turn the tide around. Instead we keep kicking
Timmy to the curb and wonder why he can't pick himself up.
"You want a higher wage, then get a better job. You want a better job, then
you should have paid attention in high school or you should have become
proficient in a skill. Again we refuse to take personal responsibility."And yet... College Grads lead the way in unemployment! So if becoming
"better qualified" is the key then why are they the most unemployed? I have a better idea. Drastically increase the taxes on the rich. Force
them to actually create jobs to make up for their revenue lost. Obviously, the
tax cuts aren't working. 2000-10 was the worst decade in job creation this
country has ever seen. If tax cuts for the rich were so good, why
was job creation so poor? Answer that repubs!
To "Lew Scannon" setting a minimum wage is foolish. You won't have
employers offering $5/hr if they want to have a stable workforce. Recently I
was at In and Out Burger. They had a sign up for a no-skill entry level
position. They were going to pay $10/hr.To "LDS Liberal"
unfortunately raising the minimum wage does not help the economy. It is like
drilling holes in your ship and then wondering why your ship does not rise like
everybody elses.Read "What Are the Effects of Raising the
Minimum Wage?" in the NY Times to better understand how raising the minimum
wage does not really work.The big question that liberals have yet to
answer is this: If businesses are going overseas for cheap labor, what do you
expect businesses to do when you raise the cost of labor here?To
"MaxPower" your example is wrong. Economists have found that raising
the minimum wage does not decrease poverty rates because a family like you
describe is on welfare and not working to begin with. Timmy just got bored
using his SNAP money on steaks, got his welfare queen pregnant, then moved in
I know lots of people who grew up in single parent homes that did not have much
money, including my wife and her 6-brothers and sisters. Her mom worked at a gas
station. My wife still was able to get a job paying much better than minimum
wage without anything more than a high school diploma, because she worked hard
and did a good job. The opposite of lazy.My own family was unable to
contribute even 1-dime to either mine or my sister's college. We took
loans, and I got a few scholarships because I studied in High School. I am a
doctor, and my sister was a well paid flight nurse, who is now in NP school. She
only got a GED before college. She went to an inexpensive community college to
get her Nursing Degree. So I don't want to hear this sob story
of I grew up in a single parent or poor home, so it's not my fault. Timmy
could take loans, and grants, and was not forced to have kids. Timmy chose not
to do better for himself. I believe we have even had Presidents from poor
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