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The minimum wage is generally a sham policy put forth by sham politicos. Compare how agriculture price supports work with how the minimum wage (i.e. labor price support) works. With ag price supports, a minimum price is set, and if the market price falls below that, a gov't subsidy is given to the farmer to make up the difference. With the minimum wage (labor price support) there is no pesky subsidy. There is just a fiat declaration of the minimum price level. If the market price (wage) for your particular skill set falls below that level, you are probably out of a job.
Why the two different approaches to the same problem? The ag price supports were devised by a group with political clout (the ag lobby) seeking something that would actually benefit their people. The minimum wage was devised by liberal politicians seeking a PR ploy that would get them PR and votes from the gullible and the economically illiterate.
Actually, the history behind the MW dates back to the Depression, in order to prevent deflation -- the spiraling lowering of wages and prices. It has worked fairly well as long as the MW wage keeps up with inflation.
Leftists just don't get it. Minimum wage WAS NEVER intended to be a living wage but an entry level wage for people just starting out into the work force.
That was true before we became a primarily low wage service based economy.
All I can say is wow...and I usually vote liberal. Wow. 15/hr?! Can you imagine what they would do for so many shops and grocery stores, especially those that are locally owned? To have their costs increases by 20% or more in an already expensive tax city?
All this would do is hurt the middle class and the lower class, as costs would just be hyper inflates because of it. Actually, the middle class would be hurt the worst because they would likely see no raise but a raise in prices.
This is seriously ridiculous.
The most "seriously ridiculous" part of this post, is the part I bolded above.
which will be affordable to workers with a higher minimum wage.
Do you even read the stuff you write??
I don't know what planet you're from, but here on earth, labor and skills have value. A quantifiable value. You can't just arbitrarily declare that that labor and those skills are suddenly worth more money without seeing a corresponding increase in prices and decrease in the purchasing power of a dollar.
Quote:
Originally Posted by le roi
your son must be an unproductive young man.
You couldn't do his job. And watch the attacks on family. I don't go running to the mods for every little thing, but I wouldn't attack your family, and I won't tolerate it if you attack mine. Knock that s**t off.
My crystal ball is as accurate as yours is, but mine is showing that with a higher minimum wage there would be less people on welfare, more people spending more money, and an improved economy.
If you have a secured job, why worry about it? Let them give this a shot in Seattle. If your crystal ball is correct, they'll stop and no one will try it again. If my crystal ball is correct, then we can be glad that they tried it.
You clearly have no understanding of how economics works. Let's get educated.
Everytime the minimum wage is increased, businesses are forced to either raise prices or lay off employees (or both). Now let's say you are already making about say $20 an hour, suddenly with the minimum wage increased to $15, your $20 no longer has to the same value as it did before, in fact it's worth A LOT less. This means that you can no longer afford to keep the standard of living that you once enjoyed, everything goes up, your electricity goes up, mortgage, insurance, even taxes as the Government has to collect MORE money to compensate for the loss of value. This means that the average person could not afford the new Cost of Living, so they are forced to either move or become homeless. Thus putting more people on welfare.
That's from our perspective, let's see what would happen to businesses: Remember businesses also have bills to pay like us, loans, lot rent, electricity, insurance, benefits, shipping and production costs etc... Now because of the minimum wage increase they have to find a way to keep the lights on and still make a profit (all businesses exist for this sole purpose). This forces them to cut employee hours and benefits, lay them off, raise their prices (which drives consumers away, which obviously hurts the business). This leads to what is known as hyper inflation (remember the Great Depression? Caused by inflation of our currency) and to an out of work or under worked middle class who will end up on Government assistance just to get by.
No offense, but if you think raising the minimum wage is a good idea you then you need an education about economics because you clearly lack it, along with everyone else who thinks it's a good idea.
The most "seriously ridiculous" part of this post, is the part I bolded above.
You voted for it. Now you can lie in it.
Ah...the epitome of the ridiculousness American political system.
If you "choose" a team, you are no longer allowed to think for yourself. You can't have different opinions on different matters, because you are an L or a C or an R or a D. WOOO!
your crystall ball must be from some leftist college professors office because if you really new anything about the minimum wage, it was never meant to be a living wage but an entry level wage for people starting out in the work force.
Quote:
Originally Posted by T-Rob123
My crystal ball is as accurate as yours is, but mine is showing that with a higher minimum wage there would be less people on welfare, more people spending more money, and an improved economy.
If you have a secured job, why worry about it? Let them give this a shot in Seattle. If your crystal ball is correct, they'll stop and no one will try it again. If my crystal ball is correct, then we can be glad that they tried it.
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