Shouldn't we REALLY help people out and raise the minimum wage to $17 per hour? Couldn't we eliminate poverty?

Answer 1

if we did that, prices would skyrocket and everything would be a lot more expensive because everyone would be a little bit richer therefore everything would be a little bit more expensive. Thats how our economy works. it would not eliminate poverty, just create more.

Answer 2

NO, I understand what you're saying but raising the minimum wage to 17$ an hour would do nothing....Businesses would have to raise prices to pay their employees and compensate for it. Poverty wont be eliminated, as long as there is underpaid employees businesses can keep their prices lower, therefore the consumers that are well off can afford wants and not just needs. It sounds bad but its the truth, the value of a dollar would drop considerable, imagine paying 10 dollars for a gallon of milk or 13 dollars for eggs. It would only re-arrange numbers.... When the economy drops people would lose their businesses because theres no consumers adn they'd still have to hand out high dollar amounts to employees. It'd cause another Great Depression, even the rich could go broke.

Answer 3

No, we would not eliminate poverty. That kind of an increase would boost the number in poverty drastically.& make it worse.

In the late 70s, this country went though a few years of double digit inflation. Two observations of that time The only new buildings being built were for banks & insurance companies. Obviously we know who was making money off our money that was fast becoming worthless.

And the other still holds true. Humungous inflation will be the only way possible to pay the national debt. It would also solve the population problem because 90% of us would starve to death.
Cheery thought, what?

Answer 4

Doing so would actually create more poverty. The current minimum wages across the country are about $5 to $7. ($5 in lower cost of living areas, and $7 in higher cost of living areas.)Raising the $5 one to $17 would be more than trippling it. If that were done, then others would want their wage more than trippled too. Before you know it, we would no longer be competitive in the world market. In other words, American products would be too expensive to buy (because of the high wages paid to produce them) and no one would want to buy American products.

Other countries who pay lower wages would be able to produce and sell the same items for less and take America's customers. Even Americans would stop buying American products because the same products from other countries would be less expensive. To make my point, look at how many Americans buy less expensive Toyotas rather than American cars.

So, to net it out, when Americans and people from other countries start buying their products from other countries who can produce them less expensively because they pay lower wages, there would be a reduction in the demand for American made products, so Americans would lose their jobs, and when that happened, poverty would be created because people without jobs have no income.

Although you gave it a good shot. And I admire your interest in trying to get America rid of poverty, your current idea is not the solution.

Keep working on it though. You just might be the person who figures out how to do it, and becomes famous.

Answer 5

Nobody seems to think about the real consequences of raising the minimum wage... Higher prices is only part of it, the big issue (the one liberals don't want to talk about) is that there are massive cutbacks by low skill service companies, meaning layoffs, and a heavier work load for the people left... OR... Like the longshoremen that demanded $28 hr for dock labor, they got it, but most were laid off shortly thereafter when along came container cargo (automation...robots).
There are no magic bullets .

Answer 6

Oh, everything would cost a ceeeent, if I were presi-deeeent.

Yea, why not make everything free, and just give people who are homeless really nice and big warm homes? Do you have any idea how the economy works? Minimum wage jobs allow restaurant owners to stay in business. Also, people who make more money move the economy further along. People get paid more because they are worth more, their jobs are more difficult, and required more education and preparation.

If we raised the minimum wage to $17 'just because', the incentive to do harder jobs would disappear.

Answer 7

Spoken like a true naive Liberal, but I am sure you cannot be so stupid so as to think that raising the Min. Wage to $17/hr. would eliminate poverty.

You are obviously kidding on the Libs. If not, I pity you.

Answer 8

If we were to do this end the end nothing would change because everything would cost more and therefore you would still be left broke.

For example say you go and buy a three dollar thing of milk with ten dollars you have seven dollars left right???? Well if you raised minimum wage to 17 and hour it would go as follows. YOur milk would go up to about ten dollars (out of 17) still leaves you with seven dollars. lol

Answer 9

When you raise the minimum wage to $17.00 then you just raise the bar for everything else-- your gallon of milk will be $7 instead of $2.50. Everything we purchase is priced in good part based on the labor it takes to produce and ship it. If it costs more to make, you will pay more for it at the checkstand. Likewise, if it costs the retailer more in checkers, sales clerks, stockers and maintenance, you will see it in the prices as well.

Answer 10

we are in seek of for a residing salary. we are actually not grasping. We basically like a touch greater for the artwork we do mutually as the Boss performs golfing or Tennis or is going Island hopping in his Jet on the earnings from OUR hard artwork. in keeping with possibility that's Math you realize.

Answer 11

A nice thought. Sadly, inflation catches us here, and quickly. When 2x the normal bills start flooding the market, the dollar would become nearly worthless on the global market. Prices would be quickly marked up to meet the new standards and we wouldve gotten nowhere other than to drive ourselves off the global market quicker than we already are.