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Old 12-18-2013, 09:22 PM
 
123 posts, read 190,716 times
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will help poor people make their life better like in Australia and Europe.

No Food Stamps
No Welfare Programs
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Old 12-18-2013, 09:25 PM
 
Location: Texas
14,969 posts, read 14,210,453 times
Reputation: 4563
What about the ones who lose their jobs? Won't they need food stamps and welfare programs?
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Old 12-18-2013, 09:32 PM
 
2,852 posts, read 2,970,048 times
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Inflation, how does that work.
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Old 12-18-2013, 09:39 PM
 
Location: Portland, Oregon
46,053 posts, read 29,509,053 times
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Quote:
Originally Posted by SilverBulletZ06 View Post
Inflation, how does that work.
Inflation happens regardless of the minimum wage.
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Old 12-18-2013, 09:44 PM
 
11,780 posts, read 8,589,342 times
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Welfare programs get adjusted upward. In 2000 min wage paid too much to qualify for welfare and in 2013 min wage pays too much to qualify for welfare.

Is another min wage thread absolutely needed?

Here are a few current threads.

Minimum Wage or Livable Wage?
$8.00 hr employees being heard--
Fast Food Places Fighting for Minimum Wage?

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Old 12-18-2013, 09:55 PM
 
39,214 posts, read 20,343,317 times
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I wish people would stop waiting for government to do something. They will be sadly disappointed with the results if they do. Just always do what it takes to help yourself because there are too many people hanging on hoping government will legislate prosperity. It won't happen.
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Old 12-18-2013, 10:07 PM
 
Location: Here
10,864 posts, read 11,933,435 times
Reputation: 5985
Raise minimum wage --> prices increase as businesses look to offset higher minimum wage --> we're right back where we started.
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Old 12-19-2013, 07:46 AM
 
Location: A great city, by a Great Lake!
15,908 posts, read 10,072,115 times
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Quote:
Originally Posted by 01Snake View Post
Raise minimum wage --> prices increase as businesses look to offset higher minimum wage --> we're right back where we started.

Don't forget more layoffs, as well as cutting of hours. And what about folks who already make over minimum wage? Are they going to get raises as well?
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Old 12-19-2013, 08:26 AM
 
6,870 posts, read 2,521,490 times
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Economic Fact 1 - If you raise the price of anything, assuming little or no change to supply, you decrease demand for that thing.

Economic Fact 2 - Inflation is always and everywhere a function of the money supply.

How are these two facts relevant? Well, fact 1 is the logical, proven basis for why always and everywhere minimum wage laws increase unemployment at that end of the wage scale. Fact 2 tells why minimum wage laws do not increase the well being of the people making that wage, because as the money supply goes up, inflation will see to it that the sum total of what their new income will buy will be essentially unchanged when inflation raises all of the prices of everything they buy.

Central command of an economy has and will never be even marginally as capable of properly allocating resources as the Invisible Hand, which is why minimum wage laws will always do more harm than good in any arena other than political campaigns.
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Old 12-19-2013, 08:29 AM
 
23,924 posts, read 11,912,132 times
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Quote:
Originally Posted by Dr. Pepper Man View Post
will help poor people make their life better like in Australia and Europe.

No Food Stamps
No Welfare Programs
Never happen. People need an incentive to be more and get paid more than a hamburger flipper.
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