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^^^^Democrats have never understood the correlation between boosting the minimum wage and the resulting effect on unemployment, which always goes up!!!!!
But those liberals never learned that at Harvard or any other liberal institution of ignorance.
I have come to the conclusion that raising the min wage is not the solution even though I doubt a min wage at 8.00-8.50 will really have much of a negative impact. Instead we should try other solutions like a negative income tax or eliminating income tax completely.
^^^^Democrats have never understood the correlation between boosting the minimum wage and the resulting effect on unemployment, which always goes up!!!!!
But those liberals never learned that at Harvard or any other liberal institution of ignorance.
Marv101, ALL wages and salary rates are more or less affected by the purchasing power of the federal minimum wage rate to the extent that it is enforced.
The affect’s inversely related to the differences between the jobs’ and the minimum rate’s purchasing power); (i.e. them that earn less proportionally benefit more and those that earn more proportionally benefit less), but ALL wage and salary earners benefit to some extent due to the federal minimum wage rate.
Refer to the discussion ”Consequences of repealing minimum wage rates” posted at 3:21pm, October 18, 2012.
This arguement has been being made since the begining of labor laws. Problem is, its a logical fallacy.
Employers don't care if the minimum wage raises. They could care less. All they have to do is simply mark up their products or services by X dollars to make the profit margin the same.
In turn, the cost of products and services go up, so the extra money made by low wage employees has the same buying power as before.
Same thing happens with our oh-so-high corporate tax.
Trying to regulate the free market through laws like this does nothing and infact only causes inflation for everybody.
This is not a complicated thing to understand. If the employees feel that they aren't being paid a living wage, then they need to take the steps necessary to earn more money. If the minimum wage employers couldn't find anybody to hire because they paid too little, then they would be forced to raise their pay to obtain workers.
Minimum wage is simply another assault on the free market by those people trying to make a claim that the free market system is unfair to justify their own short comings.
Where you are wrong --- minimum wage isn't being raised in China and in Mexico, etc. And the millions of illegals coming over the border don't need to be paid minimum wage.
Corporations already have a way out of paying minimum wage. Outsource the jobs like so many are doing and bring in more illegals and Obama is not enforcing the immigration laws. 24 million Americans out of work isn't enough?
TheFinalSay, only a competitive advantage is an advantage to an enterprise within any industry.
If the market price of labor were a nickel per hour, there’s no competitive advantage to competing enterprises that all draw their labor from the same labor pool.
An increase of the minimum wage is of disadvantage to an industry that’s more labor intensive than competitors of substitute and less labor intensive products.
The elimination of our federal minimum wage rates would be detrimental to our nation’s economic and social welfare. It would significantly reduce the purchasing power of our median wage.
Refer to the discussion entitled
“Consequences of repealing minimum wage rates”
posted at 3:21PM, October 18, 2012.
Employers that comply with the minimum wage laws are at a competitive disadvantage to employers who evade the law and hire illegal aliens. Eliminating the Federal minimum wage laws reducing the purchasing power of USA’s median wage would mitigate that problem at a net detriment to our nation.
Wouldn’t it be more sensible for Home land security to be fully funded to actually control our own borders?
Regarding imports from low wage nations, there’s a trade proposal that would be entirely funded by USA purchasers of foreign goods and would be of some advantage to any USA enterprise that competes or aspires to compete with foreign goods both within and beyond our borders.
Refer to the discussion entitled
“Reduce the trade deficit; increase GDP & median wage”
posted at 1:41AM, October 18, 2012.
^^^^Democrats have never understood the correlation between boosting the minimum wage and the resulting effect on unemployment, which always goes up!!!!!
But those liberals never learned that at Harvard or any other liberal institution of ignorance.
They understand that half of all minimum wage workers are at least 25 years old, and these people need to earn enough to make a minimal living.
Teenagers working for minimum wage are not trying to make a living.
I worked in a place where about 20% of the minimum wage workers had college degrees. Are teens more deserving or in need of these jobs more than college graduates?
..........................Trying to regulate the free market through laws like this does nothing and infact only causes inflation for everybody.
This is not a complicated thing to understand. If the employees feel that they aren't being paid a living wage, then they need to take the steps necessary to earn more money. If the minimum wage employers couldn't find anybody to hire because they paid too little, then they would be forced to raise their pay to obtain workers.
Minimum wage is simply another assault on the free market by those people trying to make a claim that the free market system is unfair to justify their own short comings.
J. Carlilesiu, we do agree upon some points.
Employers generally suffer no competitive disadvantage due to the minimum wage.
Unless the federal minimum wage is kept in pace with the U.S. dollasr’s purchasing power, lowewr wager earner’s benefits (in particular) arer less than otherwise. That’s why I’m an advocate of the federal minimum wage being annually cost of living adjusted in the same manner as we now update social security retirement benefits.
You are wrong regarding income tasxes being passed on to customers. Payroll taxes and sales taxes aere passed onto customers because they’re constant rates and not based upon incomes.
I’m a proponent (to whatever extent feasible) that we shift from taxing incomes to taxing sales.
Enterprises’ income taxes are eventually paid by those who more or less directly profit or lose due to the enterprises’ profits or losses.
Otherwise your arguments are refuted within the discussion
of “Consequences of repealing minimum wage rates”
posted at 3:21PM, October 18, 2012
and “Reduce the trade deficit; increase GDP & median wage”
posted at 1:41AM, October 18, 2012.
Exactly an how some people can't comprehend this is beyond me, beyond that when a company in the U.S. has to pay these higher expenses the company becomes unprofitable because they can't compete with offshore companies paying a lower wage. The company either moves business offshore and the workers lose a job or it goes out of business and everyone loses.
J Carlilesiu & the Coachman’s solution is to reduce USA’s median wage’s purchasing power down to the par of nations’ with the poorest compensated labor?
Refer to the discussion entitled
“Reduce the trade deficit; increase GDP & median wage”
posted at 1:41AM, October 18, 2012.
Respectfully, Supposn
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Competitive advantages.
