One view: "We can set the minimum legal wage to be whatever we want it to be! We don't have to stop at $8, or $10, or so. We could mandate something that guarantees a certain standard of living at 40 hours/week, perhaps $25/hr.
The trick is, though, that while we can set the minimum wage, what we can't set is the minimum value of an hour's worth of work. We can't control the return a business gets on the investment of hiring an employee (paying the wages, paying the unfriendly-to-job-creation payroll taxes, following the countless laws and regulations on employers).
So the problem should be immediately visible: If we set the minimum wage at a certain point, then all jobs whose value is below that value get destroyed. Instead of raising wages for the minimum-wage people, you kick them out of work.
And that's why youth unemployment is sky-high in liberal-infested cities: 'living wage' laws guarantee it." -by Neil Stevens
Survey was shown in this book:
http://www.amazon.com/exec/obidos/tg/detail/-/0324319169?v=glance
2006-09-10
11:50:31
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20 answers
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asked by
slyry75
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