Author Topic: Raising the Minimum Wage Would Hurt the People It's Supposed to Help  (Read 579 times)

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Offline Oceander

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #1 on: December 15, 2013, 11:01:48 AM »
Maybe, maybe not.  Raising it to $10.10 probably would, but raising it some smaller amount, like to $8.00, probably wouldn't have substantial negative effects.

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #2 on: December 15, 2013, 11:14:24 AM »
As somebody that was self-employed most of my working life, I naturally view it from the business owner's standpoint.

If the business 'required' me to have 20 employees in order for it to run efficiently....and each earned the current minimum wage at say, $7.50 per hour...what would I do first?  Raise prices across the board?  Or let some people go?

Let some people go! 

Go to the 20 people and explain that if you're going to have essentially DOUBLE their wages....you're going to expect a much better employee in terms of speed and accuracy and dependability.

They come in one day to find that half of the fellow employees are gone....and that they were selected because they're appreciated and we felt they were capable of rising to the next level, etc..

You'd be surprised at how much hidden talent and ability there is in people that get recognized and rewarded....even though it's a mandated 'reward' at $15 per hour.

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #3 on: December 15, 2013, 05:43:32 PM »
"It aint what you don't know that kills you.  It's what you know that aint so!" ...Theodore Sturgeon

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Offline WAYNE

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #4 on: December 16, 2013, 06:57:13 AM »
      IMNSHO raising the minimum wage would have an effect very much akin to the doubling of the gas prices over the last 5 years . Costs rise .
      The public mostly (LIV) dont see or realize the real affect because of the way the gov reports COLAs. Especially food and gas which are tied together never are reported. The cost of living is never reported correctly.

Offline massadvj

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #5 on: December 16, 2013, 08:05:18 AM »
So long as the raise in minimum wage was below the wage/supply equilibrium, in theory it didn't matter.  At least as far as economic theory.  But psychological theory is another matter.  Raising the minimum wage changed employee perceptions about who determined their salaries and affected elections.  Elections then changed the entire dynamic of the economy to one that enabled government to be a legitimate racketeer against free enterprise.  So now the minimum wage has escalated to the point that the politicians want to raise it well above the wage/supply equilibrium, which will indeed have serious economic consequences.

As far as whether the minimum wage hurts the people it is supposed to help, I would argue that nearly all progressive policies have that effect.

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Offline EC

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #6 on: December 16, 2013, 08:15:38 AM »
So long as the raise in minimum wage was below the wage/supply equilibrium, in theory it didn't matter.  At least as far as economic theory.  But psychological theory is another matter.  Raising the minimum wage changed employee perceptions about who determined their salaries and affected elections.  Elections then changed the entire dynamic of the economy to one that enabled government to be a legitimate racketeer against free enterprise.  So now the minimum wage has escalated to the point that the politicians want to raise it well above the wage/supply equilibrium, which will indeed have serious economic consequences.

As far as whether the minimum wage hurts the people it is supposed to help, I would argue that nearly all progressive policies have that effect.

That is a rather good point that never seems to get mentioned. No need to work hard, my basic needs are mandated by the government. Try fostering a work ethic in that sort of environment.
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Offline GourmetDan

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #7 on: December 16, 2013, 12:26:09 PM »

Try fostering a work ethic in that sort of environment.


How is the work ethic over in merry, old England?


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Offline EC

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #8 on: December 16, 2013, 12:33:33 PM »
How is the work ethic over in merry, old England?

It seems about the same as you guys have. 52% work. 47% don't.

At least our "don'ts" do not get an income tax rebate on tax they never paid.
« Last Edit: December 16, 2013, 12:34:18 PM by EC »
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Offline GourmetDan

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #9 on: December 16, 2013, 12:37:41 PM »
It seems about the same as you guys have. 52% work. 47% don't.

At least our "don'ts" do not get an income tax rebate on tax they never paid.

I would have thought that you guys were further down the socialism path than we are...


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Offline EC

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #10 on: December 16, 2013, 12:45:51 PM »
I would have thought that you guys were further down the socialism path than we are...

In some ways, we are. In other ways, not so much. It's the English way, being as inefficient as possible.  :whistle:

But the tax rebates to none tax payers? That makes every single one of us go "What?!" We have some stupid policies, but that takes the prize. Of course, we also don't do tax returns if we are employed. It is automatic. No paperwork involved.

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #11 on: December 16, 2013, 12:47:12 PM »
It seems about the same as you guys have. 52% work. 47% don't.

At least our "don'ts" do not get an income tax rebate on tax they never paid.

Nor do they pay taxes on "income" earned outside the UK.

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Re: Raising the Minimum Wage Would Hurt the People It's Supposed to Help
« Reply #12 on: December 16, 2013, 12:50:54 PM »
So long as the raise in minimum wage was below the wage/supply equilibrium, in theory it didn't matter.  At least as far as economic theory.  But psychological theory is another matter.  Raising the minimum wage changed employee perceptions about who determined their salaries and affected elections.  Elections then changed the entire dynamic of the economy to one that enabled government to be a legitimate racketeer against free enterprise.  So now the minimum wage has escalated to the point that the politicians want to raise it well above the wage/supply equilibrium, which will indeed have serious economic consequences.

As far as whether the minimum wage hurts the people it is supposed to help, I would argue that nearly all progressive policies have that effect.

That is all true Victor but not really what this is all about. This is REALLY all about the fact that in many cases union wage rates are tieded to the minimum wage and those covered under that AUTOMATICALLY get a wage increase when the minimum wage rate is increased!
« Last Edit: December 16, 2013, 12:51:39 PM by Bigun »


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