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A growing number of adults are earning minimum wage, and adults are displacing teens from minimum wage jobs. (Specifically, as teens leave minimum wage jobs, employers are replacing them with minimum wage adults.)bbb
I had one job where everyone was paid within 25 cents of minimum wage, and half of the employees were over 30, including several over 50 and one over 65.
If you push the minimum wage far enough then you can get the price of houses going up not down. That is inflation. With that will come full employment. The Fed is causing worldwide inflation trying to do just this. That and the $7 trillion (In world reserves) that was printed over the last ten years world wide is starting to pick up speed.
With 20% unemployment you would be shocked at what people would work for.
Yeah, and if people were free to sell their labor for what it is worth, we would not have 20% unemployment. But minimum wage laws criminalize the sale of labor by low-skills workers.
It gives them work history and an employer to give a reference when a better job comes along.
It is just to bad there is no guarantee that a better job will come along again there are only so many better jobs available for people. Not sure why you can't understand this simple concept.
There shouldn't even BE a minimum wage. The marketplace should decide what the wage should be. Think about it, people aren't SO dumb that they will work for next to nothing and employers want good workers. To get good workers and to keep them, employers would need to pay a decent wage. It is a win win situation. All a minimum wage does is encourage slackers to not even do a satsifactory job because they know they will AT LEAST get the minimum wage (unless they are fired).
If you are working, I don't care what the job is, if you are working and you are not being paid a livable wage, then what is the sense in working? The whole point of working is so that you can make your own way in the world and not be dependent upon others. But if you are working and still can't keep your head above water, then why should you keep working?
Yeah, and if people were free to sell their labor for what it is worth, we would not have 20% unemployment. But minimum wage laws criminalize the sale of labor by low-skills workers.
FDR put in place the first minimum wage law. The law only applied to interstate commerce workers. But what he was trying to do was to get wage prices to go up so that we would have more employment. He was trying to get inflation in a deflationary environment. Now the lever is big enough to move the economy. The reason that labor rates are being pushed so low is in part not enough money. (Cheap foreign labor also plays a part but devaluing the dollar will take care of that.) The reason that we don’t have enough money is that we don’t have enough wages to support the higher house prices. With the price of houses going up then we would see the economy expanding.
Quote:
Originally Posted by matt1984
It is just to bad there is no guarantee that a better job will come along again there are only so many better jobs available for people. Not sure why you can't understand this simple concept.
More money in the consumer economy is what is needed for full employment cash to everyone about $3k~$4k would do the trick.
Quote:
Originally Posted by emilybh
There shouldn't even BE a minimum wage. The marketplace should decide what the wage should be. Think about it, people aren't SO dumb that they will work for next to nothing and employers want good workers. To get good workers and to keep them, employers would need to pay a decent wage. It is a win win situation. All a minimum wage does is encourage slackers to not even do a satsifactory job because they know they will AT LEAST get the minimum wage (unless they are fired).
People were working for starvation wages in China before the cultural revolution. They were working for a dying wage not a living wage. When you get that kind of wage structure then you get violent revolutions. I don’t want to go there.
Quote:
Originally Posted by matt1984
If you are working, I don't care what the job is, if you are working and you are not being paid a livable wage, then what is the sense in working? The whole point of working is so that you can make your own way in the world and not be dependent upon others. But if you are working and still can't keep your head above water, then why should you keep working?
When the Morons got to the Salt Lake valley they had a problem. Not enough money in circulation. So they for part of the time used wheat flower as a medium of exchange for pay. Brigham Yong set the minimum wage at enough to feed a person and his family. Fare enough for me.
I want to see $30 per hr as the minimum wage because that will get us true inflation and with it full employment.
It is just to bad there is no guarantee that a better job will come along again there are only so many better jobs available for people. Not sure why you can't understand this simple concept.
Its the similar mentality to people who drive something like this.
If you are working, I don't care what the job is, if you are working and you are not being paid a livable wage, then what is the sense in working? The whole point of working is so that you can make your own way in the world and not be dependent upon others. But if you are working and still can't keep your head above water, then why should you keep working?
Why should all jobs pay enough for someone to live on? There are simply a huge number of jobs in this country that require almost no skill or education. These jobs shouldn't pay much.
Should a part time high school kid be paid enough to live on even though he lives with his parents?
Should a semi-retired person who wants to do a fun meaningful job be paid more than the job deserves?
If your skill level is only good enough to earn $8 an hour maybe the answer is to get more skilled.
Any state can set whatever minimum wage they want. Why don't the liberal states just set theirs to $50/hr? Wouldn't that mean guaranteed prosperity for all? Why wait for Congress to do it?
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