I know we all want more money but what if everything cost like 4 cents ... and we made a proportioned amount of money. Why then would we want more money? Are things becoming more expensive ... is this a plot to increase hard work or work ethic?
2006-11-10 08:05:06 · 5 answers · asked by weatherhuman 1 in Social Science ➔ Economics
It's because American money is tied to so many other economies. We can not lower the price of goods and services because in the global market, it would lower our own pay as well. There's only one way to go when you've dug a hole like we have!
2006-11-10 08:13:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The basic premise is that the minimum wage has not been increased for years and does not afford a person a living wage. The problem is if you raise the minimum wage based on inflation it will cost those industries that are dependent on minimum wage employees more money that would in turn be passed o to everyone else. So everyone would pay more for their goods and services and the raise to the minimum wage would be moot for those earning the wage, but those above minimum wage would take the largest pay cut for increasing the minimum.
2006-11-10 08:16:41 · answer #2 · answered by Steve S 2 · 0⤊ 0⤋
When the minimum wage is increased, people being paid minimum wage temporarily enjoy a higher standard of living. The highre labor costs require more money to be in circulation so, the private banking cartel know as the Federal Resrve Bank prints more money. This causes the value of every dollar out there to be decreased plus the economy, seeing that there is more money available, raises its prices. So people making minimum wage are right back where they started but, people making above minimum wage have now had the value of their money decreased so their standard of living is decreased.
2006-11-10 08:54:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A job has a specific value regardless of how much the government says you should be paid. If the wage is higher than the job is worth, a job is going to be eliminated. Minimum wage increases lead to inflation and that's it. No one is better off because of them.
2006-11-10 08:13:15 · answer #4 · answered by Chris J 6 · 1⤊ 0⤋
its inflation..idiot liberals cant leave the market alone...when the federal reserve and the like get involved its plain and simple..the govt feels they have better control of your money than you do...my opinoin to the govt is clean your own house..then worry about mine.
2006-11-10 08:07:18 · answer #5 · answered by koalatcomics 7 · 1⤊ 1⤋