i need answers in favour of the minumum wage...info and references as to why it can benefit a community or country
2006-09-11 05:28:15 · 7 answers · asked by Anonymous in Politics & Government ➔ Government
It's not, it hurts small start-up businesses. Any Governmental control is bad...
2006-09-11 05:31:35 · answer #1 · answered by Anonymous · 1⤊ 1⤋
The Minimum Wage is not good for the economy.
The Minimum Wage OUTLAWS jobs. If the minimum wage is $7, it means all people who were willing to work for $6, $5, $4....etc. are now FORBIDDEN.
These people (usually the low-skilled and teenagers) must now remain unemployed. If they don't have the skills to earn $7 per hour, no one will hire them. They must remain unemployed.
If raising the minimum wage is so great, why stop at $7 per hour? Why not make it $70 per hour? Or better yet, $700 per hour?
It's because the amount of unemployment that would be created would be staggering. Our economy would grind to a halt.
The minimum wage outlaws jobs, and creates unemployment.
2006-09-15 01:03:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It's just a con job. With prices going up on everything under the sun, higher wages will not translate to higher buying power. Probably less in the long term, a lot less. You are just being fooled. Now what would be good would be if you get more for your dollar on what you were making before.
The governments plan is to cause massive inflation so they can pay back their debt in cheaper dollars. Raising the minimum wage will help them reach that end.
2006-09-11 12:40:50 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Minimum wages are not good for the economy - the market place should be able to set its own level. But, then again, how else do you protect labour from exploitation?
An argument for 'no minimum wage' is jobs and Industry will cease to leave the country and employment should then rise. However, the cost of living varies around the world so an imbalance of labour costs is still likely to exist exist.
An argument for 'a minimum wage' is that employers who are unable to relocate their businesses to low labour cost locations are forced to invest in mechanisation and increase their productivity.
The best route for government therefore would be to provide incentives to companies who upgrade their technology and productivity and provide training to their staff - thus creating a more skilled, more productive and higher paid workforce instead of chosing to relocate to a lower wage cost area . Couple that with disincentives to businesses who relocate their facilities to low cost labour locations and progress should arise.
If you take the above approach together sound monetary policies - i.e. take back our Federal Reserve from the banking cartel and ban Fiat money to curb inflation. Then the real wealth and efficiency should rise and the need to enforce minimum wages would become unnecessary as the demand for labour will rise through real growth and result in higher wages as a matter of course.
2006-09-11 12:28:59 · answer #4 · answered by Bring back Democracy 3 · 2⤊ 2⤋
All I know is I look at all the people working in the hot sun harvesting grapes in my families Orchards and I'm grateful that there is a min. wage inforced. All these poor farmers would probally pay them less if they could.
2006-09-11 12:31:28 · answer #5 · answered by gardengirl 2 · 1⤊ 1⤋
More money in the pockets of the least wealthy= more money spent by them= more money taken in by businesses= stronger economy.
2006-09-11 12:30:17 · answer #6 · answered by Schmorgen 6 · 1⤊ 2⤋
Puts more money into people's pockets to spend --
2006-09-11 12:30:58 · answer #7 · answered by Anonymous · 1⤊ 2⤋