It seems raising the minimum wage is the biggest policy for the Dems next year. Who actually benefits from this and who loses out?
2006-11-15 09:30:00 · 6 answers · asked by tiger 1 in Business & Finance ➔ Careers & Employment
If you are totally in favor of true "free trade" you say there should be no minimum wage. That props up the cost of your product, and then it can't compete. (Shown by the maufacturing jobs that exist only overseas anymore.)
That is not really an issue here; however, since a nationwide minimum exists already.
It's really a double-edged sword. People think that all they will do is benefit from this, but it's not really true.
Here's why:
*Companies that have to pay a higher wage will increase the cost of their product to consumers.
*This higher cost usually effects the poorest in our nation the most. These are the people already working on the minimum.
*This also drives down sales, due to the higher product cost, causing the company to cut jobs or hours.
*The company may also cut down hiring, staff, hours, or raises due to the higher cost of employment.
*Also, another BIG loser is anyone that makes barely over the new minimum. The increase in pay is not usually passed on to these people. They see the increase in the price of goods, but not the increase in wage.
As for the poster that said minimum should go state-by-state, I totally disagree. If neighboring states have different minimums guess where the jobs will go? The state with cheaper costs of employment. (Southern) Illinois, where I live, is a prime example of this. Our genius (LOL) governor raised the minimum and plans to do it again this year...... And you definatley notice all the lower paying jobs leaving the state and going over to Missouri.
2006-11-15 09:47:23 · answer #1 · answered by Laura 4 · 0⤊ 0⤋
10.00 an hour is the minimum, I mean everything is increasing, gas, home loans, credit card payments, just plain old inflation. It's really sad that this country is still paying 5.00 an hour, while the rich is getting richer and poorer staying poor. Debt is becoming as common as the cold and the world doesn't stop. It's time for the Democrats to take over, I'm tired of the Republicans spending and not taking the time to help the American people...it's pure pathetic.
2006-11-15 10:30:52 · answer #2 · answered by MadameJazzy 4 · 0⤊ 0⤋
It should be the biggest policy. Everyone is going to benifit from it. I have 2 kids that I raise alone I am still in college because I am only 20. I make 5.15 an hour. That's not enough to pay rent and the bills at the cheapest apartment place within a 50 mile spread. That is not counting diapers, formula, food, clothes for my growing kids. It's crazy that they expect people to get by on 5.15 when the "cheap" rent is 100 bucks a week.
2006-11-15 09:39:17 · answer #3 · answered by Hot Mom 4 · 0⤊ 1⤋
The people who make minimum wage will benefit because they'll be able to have a higher standard of living. But businesses will suffer and will surely cut jobs because their payroll budget will have to be increased so much more for their employees. I think the amount will need to vary from state to state. The minimum wage in one state wouldn't be enough to survive in another state. The cost of living is different in each state.
2006-11-15 09:33:10 · answer #4 · answered by chocolate-drop 5 · 0⤊ 0⤋
I'd make it 7.50/hr. The people who make too much to qualify for welfare but who definitely are living in the poverty level will benefit.
2006-11-15 09:32:45 · answer #5 · answered by Anonymous · 0⤊ 1⤋
10.00 an hour at least and thats not a lot of money
2006-11-15 09:39:08 · answer #6 · answered by shirleypowers1953 4 · 0⤊ 0⤋