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Why does Joe Biden want to make it illegal for businesses to hire workers who earn less than $15/hr? It is because he hates low wage workers and wants to make life as difficult as possible for them? Does he want to force businesses that can't pay $15/hr to close their businesses? Is he just a moron and has no understanding of basic economics? What is his motivation for wanting to make it illegal for current minimum wage workers to trade their time for a paycheck???
Why does Joe Biden want to make it illegal for businesses to hire workers who earn less than $15/hr? It is because he hates low wage workers and wants to make life as difficult as possible for them? Does he want to force businesses that can't pay $15/hr to close their businesses? Is he just a moron and has no understanding of basic economics? What is his motivation for wanting to make it illegal for current minimum wage workers to trade their time for a paycheck???
Minimum wage will go up to $15 in yearly increments, not overnight.
What do you think voters had in mind in the low income state of Arkansas when they voted YES to raise that state's minimum wage to the point it is now $11 an hour? Can you prove that businesses in Arkansas have closed as a result? It had been $7.25.
I had a link in another thread of how raising the minimum wage impacted other wages --- and there seems to indicate it does raise lower income wages in general. I find it hard to believe that someone objects to that.
As an example, Target raised its minimum to 15 and has been having great profits. Doesn't seem to be slowing them.
Smaller businesses --- if they are people unliveable wages then they maybe need to rethink their business model.
I had a link in another thread of how raising the minimum wage impacted other wages --- and there seems to indicate it does raise lower income wages in general. I find it hard to believe that someone objects to that.
As an example, Target raised its minimum to 15 and has been having great profits. Doesn't seem to be slowing them.
Smaller businesses --- if they are people unliveable wages then they maybe need to rethink their business model.
This thread is going off topic. The topic is pertaining to the motivation for Biden raising minimum wage to an outrageously unaffordable level for so many of America's businesses, particularly small businesses.
Quote:
Originally Posted by Lekrii
To be clear, you're claiming minimum wage laws are against the best interest of low wage workers?
If the minimum wage is too high, it can be detrimental. If they are not capable of earning $15/hr for example, they will be priced out of the job market. I don't think that is in their best interest at all. It basically makes it illegal for them to earn an honest living.
So the next question is, why would Biden want to do this to low wage workers?
I'm not sure i understand your post OP but I agree that Biden does not like low wage workers, you know the ones that many minorities work in such as service jobs. These honest hard working folk that have worked to raise themselves up are going to get a real slap in the face when Biden gives amnesty to 11 million illegal aliens.
The people that will suffer the most with the $15 mini are the ones that have worked hard for years to get themselves to say $16 and now some lazy slack jawed high school punk is going to come in and be handed that kind of money for just showing up.
The peak value of minimum wage in terms of today's dollars was in 1968 when it was $1.60 ($12.24 in today's dollars). Since then the buying power of minimum wage has been slowly eroded and has not been raised in going on 12 years. (Previous record was 10 years between 1997 and 2007). In 2009 (the last raise to $7.25) had a buying power of $8.94.
Meanwhile during that same period CEO to average worker pay (not minimum wage) has gone from 22 to 1 in 1968 and now sits at 320 to 1.
So while CEO to worker pay ratio has increased by 1355% the actual buying power of the minimum wage worker has decreased by almost 41% during that same period.
Small business owners will pay more to workers but workers will have more to spend in small businesses.
Small business' biggest problem is that the rules have been shifted from the 1980s to favor corporations over small businesses in the market place.
If the minimum wage is too high, it can be detrimental. If they are not capable of earning $15/hr for example, they will be priced out of the job market. I don't think that is in their best interest at all. It basically makes it illegal for them to earn an honest living.
So the next question is, why would Biden want to do this to low wage workers?
I understand that's been a talking point of the GOP for a long time now, to try and prevent minimum wage from moving forward. I also understand the theoretical economics. In practicality, do you have a specific example of a country that raised minimum wage and caused the downside you claim it would?
I understand your claim, can we see if there's validity to it before we move forward in this conversation?
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