|
12-18-2013, 09:22 PM
|
|
|
|
123 posts, read 218,960 times
Reputation: 120
|
|
|
will help poor people make their life better like in Australia and Europe.
No Food Stamps
No Welfare Programs
|
|
12-18-2013, 09:25 PM
|
|
|
|
Location: Texas
14,975 posts, read 15,873,490 times
Reputation: 4583
|
|
|
What about the ones who lose their jobs? Won't they need food stamps and welfare programs?
|
|
12-18-2013, 09:32 PM
|
|
|
|
2,851 posts, read 3,358,708 times
Reputation: 1200
|
|
|
Inflation, how does that work.
|
|
12-18-2013, 09:39 PM
|
|
|
|
Location: Portland, Oregon
46,030 posts, read 33,897,996 times
Reputation: 7865
|
|
Quote:
Originally Posted by SilverBulletZ06
Inflation, how does that work.
|
Inflation happens regardless of the minimum wage. |
|
12-18-2013, 09:55 PM
|
|
|
|
41,111 posts, read 24,597,364 times
Reputation: 13862
|
|
|
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.
|
|
12-18-2013, 10:07 PM
|
|
|
|
Location: Here
11,554 posts, read 13,457,396 times
Reputation: 6917
|
|
|
Raise minimum wage --> prices increase as businesses look to offset higher minimum wage --> we're right back where we started.
|
|
12-19-2013, 07:46 AM
|
|
|
|
Location: A great city, by a Great Lake!
15,896 posts, read 11,545,805 times
Reputation: 7485
|
|
Quote:
Originally Posted by 01Snake
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? |
|
12-19-2013, 08:26 AM
|
|
|
|
12,445 posts, read 4,620,520 times
Reputation: 7579
|
|
|
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.
|
|
12-19-2013, 08:29 AM
|
|
|
|
27,304 posts, read 15,463,116 times
Reputation: 12086
|
|
Quote:
Originally Posted by Dr. Pepper Man
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. |
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.
