Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That is really only true for low skilled workers. There is a company out there that gives the normal salaries for people with X amount of experience in different fields and different locations. If a company has to pay $20/hr to keep someone then that is what they have to do if they want an employee. I would never work for $5/hr, but that is because I know I can get more than that.
The topic is about the minimum wage. Who besides low skilled workers do you think earn the minimum wage, advertising executives?
Hardly. Here is a great review of the minimum wage data/studies over the years, along with evidence on low skilled workers. The impacts, while mixed, largely leans towards the of Card and Krueger (i.e. negligible, even among teenagers). http://www.cepr.net/documents/public...ge-2013-02.pdf
I didn't read the entire study but looked at it, and it appears to be based on empirical data. The minimum wage can only not cause unemployment if it is set low enough to not have any effect. Suppose we set a minimum cheeseburger price of 25 cents. It would not affect cheesburger sales since nobody is selling for that price. But suppose we set a minimum cheesburger price of $10. Then a lot of cheeseburger sales would suddenly go away, since most people are not willing to pay $10 for a cheesburger and would seek out other food.
I believe that Democrat politicians, for whom min wage is a part of their tried and true schtick, are generally careful to set the minimum wage not so high that it actually creates much unemployment, especially among likely voters (i.e. people over 25 or so). That's why I wouldn't spend a lot of energy fighting over the issue. But if the min. wage were set high enough to do what it purports to do, it would indeed cause unemployment.
I had no experience before this job. Folks like you are the reason others suffer.
Really? How? Could I have gotten that job if I priced myself @ $5.50/hr? Yeah, but I didn't need to price myself that low and lose my buying power to get the job. You do more harm by taking that low wage.
How did that bottom-rung wage help you out in the long run? It didn't. You got experience to pursue jobs at the same wage level as everyone else. Like I said, you raced to the bottom and lost.
Last edited by EddieB.Good; 02-16-2013 at 05:40 PM..
Absolutely.
I know that I am able to perform a service that is worth far more than $5 per hour. As a result, I will no longer work for such a low rate of pay. However, I also know that there are many people who have not yet obtained the skills, knowledge, or experience to do what I do at the level I do it. As a result, I expect that those people will accept a lower rate of pay. They will work, they will be paid, and they will gain some experience that should help them become better at what they do, or exposure that will allow them to access a different job to which they may be better suited, and therefore able to command a higher rate of pay.
Why do you see this as a bad thing?
Not obtained the skills to sweep floors (which I believe was your example of a $5/hr job)? Good grief, it takes about two minutes to learn if one has never held a broom in their hands before.
Yes, people with fewer skills should accept lower pay, but I do feel there should be a floor under wages. This helps both the unskilled and the skilled alike. If the going rate for unskilled labor were $5/hr, the going rate for realtors would be lower, too.
Which is why entrepreneurial skills are MOST important. Entrepreneurship is the only thing that can save the poor.
The education must be very high level since a normal education isn't enough to produce new jobs or create new wealth.
The same thing will happen with to many business there will not be enough business for all those to stay open business are already struggling as it is.
Really? How? Could I have gotten that job if I priced myself @ $5.50/hr? Yeah, but I didn't need to price myself that low and lose my buying power to get the job. You do more harm by taking that low wage.
How did that bottom-rung wage help you out in the long run? It didn't. You got experience to pursue jobs at the same wage level as everyone else. Like I said, you raced to the bottom and lost.
As usual it's more about getting off a good troll insult than engaging in honest debate, n'est ce pas? If you can depict the other guy as having lost, you feel so good about yourself.
Just some background information, in 1968 the adjusted value of the minimum wage was $10.64.
In 1981 the minimum wage was $3.35 ($8.46 today), by the time it was raised in 1990 the minimum wage was down to the equivalent of $5.88 today).
In 1997 it was raised to $5.50 ($7.87). When it was raised in 2007 the adjusted value of the minimum wage was down to $6.09.
The minimum wage of $7.50 when it was introduced had purchasing power of $8.30 today.
So essentially for most of the last 40 years the minimum wage has actually been reduced. The current minimum wage is 30% below what it was worth in 1968.
Just some background information, in 1968 the adjusted value of the minimum wage was $10.64.
In 1981 the minimum wage was $3.35 ($8.46 today), by the time it was raised in 1990 the minimum wage was down to the equivalent of $5.88 today).
In 1997 it was raised to $5.50 ($7.87). When it was raised in 2007 the adjusted value of the minimum wage was down to $6.09.
The minimum wage of $7.50 when it was introduced had purchasing power of $8.30 today.
So essentially for most of the last 40 years the minimum wage has actually been reduced. The current minimum wage is 30% below what it was worth in 1968.
and it should be lower FEDERALLY
the fact is (the fact liberals just can't seem to grasp) that one size does not fit all
the fact is (the fact liberals just can't seem to grasp) that one size does not fit all
How would that help min wage workers? All that would do would require min wage workers to rely on more Government help. I am sure businesses would love if that happened though.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
