US Minimum Wage

[OMGAWD]

Modern Day Slavery = Minimum Wage - 20$ an hour. You are only worth what you make in a monetary system with fractional banking. We are all in one way or another, under someones thumb, who is also under someones thumb. Eventually leading to us all being under the united states thumb, which is in direct control of the federal reserve bank. Which is a privately owned and operated bank, not a governmental bank. The international banks are the ones who promote war for profits and allow us all to eat things like mcdonalds for future health problems which they also profit from.

Point being, even if minimum wage was 1million dollars an hour, things would be exactly the same, we'd all just be a little better at math.

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[Elena]

If they were to raise minimum wage though I think the economy would flip back around because people would have more money to put back into our economy.

 

[Recidivism]

If they were to raise minimum wage though I think the economy would flip back around because people would have more money to put back into our economy.

Minimum wage hurts employee's it actually lowers average wages. If say a company earns 9 dollars off a worker but has to pay him 10 he gets fired but if an employee earns company 12 dollars and is paid 10 he will be getting reworded with a promotion otherwise a competitor will offer the employee better job.

Minimum wage is for starting jobs not for careers. If you cannot get a starting job because its not worth it to the company to hire you then it will be impossible to get a higher position in a job.

Another problem is it causes increase is prices to produce & will also increase inflation.


[YOUTUBE]Ct1Moeaa-W8[/YOUTUBE]
Little video on minimum wage.

 

[Divine_God]

Idiots saying it won't affect employment.

As it stands now it's very difficult to compete with overseas wages. An increase in minimum wage here would only increase the lure of spending overseas. Don't get me wrong, I really wish that raising minimum wage would be more beneficial than not but all of the evidence points towards the contrary.

Obama-care and minimum wage increases force our businesses to lower their margins of profit/investor payout or fire employees. In our world of capitalism tell me which option a business will take.

 

[Fendle]

if the min wadge increases so will prices in the stores, cans of coke etc will slightly rise.

 

[SuF]

Idiots saying it won't affect employment.

As it stands now it's very difficult to compete with overseas wages. An increase in minimum wage here would only increase the lure of spending overseas. Don't get me wrong, I really wish that raising minimum wage would be more beneficial than not but all of the evidence points towards the contrary.

Obama-care and minimum wage increases force our businesses to lower their margins of profit/investor payout or fire employees. In our world of capitalism tell me which option a business will take.

Most businesses that do not provide health insurance are service jobs that can not be outsourced and the cost of providing insurance will not be all that severe. Many places are just cutting down on hours so that no one they hire is full time so that they don't have to pay the health insurance.

And again in terms of minimum wage, most jobs at that wage level are going to be service jobs that can not be outsourced. The result of this is going to be higher prices for certain things and perhaps slightly smaller profit margins (and since corporate profits are at record levels, they can deal). You also can not compete with China for the types of jobs that get outsourced there. They are not coming back since they have the advantage in doing what they do.

And no it will not affect employment if you do it slowly and carefully. Businesses that are overstaffed are going to fire people anyways. If you are not getting the most efficient use of your people, you should fire them regardless of whether or not minimum wage goes up. And even if it were to lead to job losses, these would be only for the short term as the markets it out.

 

[SuF]

Minimum wage hurts employee's it actually lowers average wages. If say a company earns 9 dollars off a worker but has to pay him 10 he gets fired but if an employee earns company 12 dollars and is paid 10 he will be getting reworded with a promotion otherwise a competitor will offer the employee better job.

Minimum wage is for starting jobs not for careers. If you cannot get a starting job because its not worth it to the company to hire you then it will be impossible to get a higher position in a job.

Another problem is it causes increase is prices to produce & will also increase inflation.


[YOUTUBE]Ct1Moeaa-W8[/YOUTUBE]
Little video on minimum wage.

I'll take it as true that it lowers average wages even though without a source I call complete bullshit.

It raises the median wage and that is what really matters. The average wage means nothing because a few very wealthy people making a whole shit ton can offset a massive amount of people making very little. If minimum wage is raised, companies have three solutions: raise prices, fire workers, or take a smaller profit margin. What happens depends on the market that you are talking about. The fast food / pizza market has pretty tight profit margins so they won't cut into those all that much. They also are already very efficient at not having any more staff than they need (because the margins are smaller). This means that their only choice is going to be to raise prices, which because they sell so much, isn't going to be all that much.

Another market where there are much higher profit margins might decide to lay off some workers because it realizes less of them could be more efficient but that's due to them being a bad company that doesn't know how many workers it needs rather than the minimum wage.

Another market might decide to replace some of its workers with machines. Some people lose their jobs but other higher paying jobs are created to produce and maintain those new machines. These new jobs drive up demand and help boost the economy so that the people that were laid off can find other work.

Another company in another market might decide to cut its profit margins (which profits are at record levels) and keep the costs of their goods the same. If their competitor raises prices, it might just be that the company ends up making a larger profit (with smaller margins) because the lower price leads to a higher market share.

So simply saying that minimum wage is bad and will kill jobs and hurt workers is plainly a stupid thing to think and any amount of thought will show you that.

 

[captiontom]

minimum wage is for entry level jobs with limited skill requirements. I don't see why it should be raised to a wage you can live off of. It sounds heartless, but minimum wage workers are replaceable. You shouldn't plan on making minimum wage forever, move up and make more or get an education or a specialized set of skills for a higher paying job.