Does raising the minimum wage really increase inflation so much?

Question

I mean, look at it like this. Professional jobs are being increased all the time aren’t they? And let's not even talk about the insane CEO wage increase going throughout the country. What has their wage been raised by, 3000% in the last 10 years? Are you telling me that don’t make inflation go up? Lastly inflation will go up whether or not you raise minimum wage! So ask yourself, do you want to force desperate father and mother onto the street and into crime because they can't pay for themselves let alone their families? Sure they could go to college... HOW? WITH WHAT MONEY? Does it really seem colleges are trying to help poor get in? And do we not have to have our basic workers no matter how educated everyone may get? We must have our Janitor and our Garbage men and our Babysitters, no question about it. So do we take a big dumb on those who are fundamental to our society? Let me tell you one thing, if I had a family to support..Mistake or not and I made 6 an hour. Crime!

Answer 1

You bring up some very good points here. I think it does have a certain effect, but it is probably overemphasized. When you get right down to it, what it amounts to is this. The super rich who effectively run this world, couldn't care less about us poor, working class nobodies. They just want it all, and we're in their way of getting it.

Answer 2

Raising the minimum wage does nothing for the poor. First, as a small business owner will have to raise prices that will drive down demand as a result they will have to get by with fewer workers. Second, the government should not dictate what a person is worth that is marketplace job. Third, want to help the low income worker give income tax credits to the poorest of 10% of workers over the age of 25 working full-time. Finally. the comparsion with a CEO is a poor analogy because after 5 million dollars a year in compensation additional money has less utility to the CEO, and those wealthy persons dollars are better spent in the economy than by a government bureaucrat. I care about absolute poverty where people lack food, health care, housing. The comparing of a CEO wage to a store manager is relative comparsion both own a car, both own a TV, ac, and 90% of other items that are available in the market place. Pull out your T-82 calc and learn about exponents and logs you will realize dollars are relative after a certain point. 5 million a year verse 30,000 a year buys a worker 90% of the same goods and items.

Answer 3

Absolutely, increasing minimum wage will increase inflation. If you take into account the amount of unskilled workers in this country working for the minimum and figure out exactly how much raising the wage by $1 an hour would cost companies overall..you have to realize that this would be an enormous expense, and it's one that they have to account for by raising the price of the services they provide. Increases in wages of professional jobs does the same yet it is on a much smaller scale and they are far more likely to be merit earned increases than government implemented. Professionals are skilled workers that are hired to help increase a companies profit margin in some way, shape, or form (they increase profit..the company increases their wages..inflation is not as big of a problem) as oppose to the unskilled who are there mostly to provide a specific service, are easily replaceable, and don't have much, if any, impact on the amount of services sold or profit gained.

Minimum wage jobs, as someone already stated, are not designed to provide the kind of income that you need to support a family with...as you get older your income should increase because you become more skilled..if you are working a full time minimum wage job and you have a spouse and children to support then something has gone seriously wrong with your path in life! Nobody forces anyone else onto the street and into crime..it's the choices each and every person makes in life that dictate whether that will happen..if you make bad ones..what is to be expected? certainly not prosperity.

Colleges do not afford the same opportunites to the poor as they do to the rich..they favor the poor. Scholarships and grants are given out by the thousands to people based on economic circumstances, the poor are afforded college loans through banks and other institutions in just the same way that the more affluent folks are, and they qualify for far more state funded programs. It's not easy to do..but then again..college isn't supposed to be easy. And incidently..those people that struggle through college come out at the end with the same degree and ability to earn a good income that their previously more affluent counterparts do!

Yes, we certainly do need basic workers but Janitors and Garbage men are not paid minimum wage..in fact Garbage men make pretty good money for being unskilled workers, and Janitors too if they stick at a job for a while. If they have working spouses they can provide a relatively good life for their families (most of them qualify for benefits if they work full-time.) These are not fancy jobs but they are certainly not bad ones.

Babysitters and fastfood worker jobs are more typically suited to Highschool and College students..if you think you can provide for a family while working a job like this...more fool you! A crime it is indeed..but the criminal is not society as you would suggest..it's you..for failing to have hindsight enough to provide adequately for your family.

Answer 4

Professional jobs are held by a low percentage of the population. Some of the wages earned by these professionals are done on a commission basis, also.

Jobs dependent on the minimum wage system are had by the greater portion of the population, then. So an across-the-board increase in these wages in turn increases the products these jobs put out, which is mostly everything, because the professional jobs are involved more so in services and not products. So naturally inflation increases.

Raising the minimum wage, then, simply makes prices go up, so the minimum wage constantly needs raising to keep pace, which it never truly can for any extended time..

BTW Committing crime is always a choice no matter what. Nobody is ever forced to do so. You can make up all of the excuses you want to, but it always comes down to you screwing someone else over so that you are screwed over less.

Answer 5

CEO's getting huge money is feeding the top. Raising the min wage for pizza boys is raising the bottom. If everyone at the bottom becomes wealthier, products at the bottom become more expensive. Such as loaves of bread. Min wage jobs should not be held by people trying to support a family. It's a place for people to start, and become better trained and move up the ladder. If you're over 16 and still making min wage there is a problem.

Answer 6

it is hard to try to figure out what your point is through your grammar but i think you favor raising the minimum wage as a favor to poorer people and that you do not believe it is bad for the economy. personally i dont believe their should be any minimum at all. i often wonder why people who support it dont just wish to make it thirty dollars an hour and eliminate poverty all together. i suppose that even you realize that raising it a lot would hurt a lot, so why can you not see that raising it a little would hurt a little?

Answer 7

The saddest point of all of it is--the working poor that want to go to college. If they don't have a bunch of kids, they would probably be above the level to qualify for grants to go.
So you see these young couples, no kids or just one, being responsible and working some paltry job--and they get nothing. They can't afford to go the doctor because their crap job doesn't have insurance. Even it they did go, they couldn't afford to pay for the prescription.
It seems like everyone wants to help the homeless. or destitute, or the single mother with 6 kids--but it is the working poor that break my heart.

Answer 8

When upper class people get raises, the company can afford it. Some companies can't afford to increase pay and have to fire people - so those employees get nothing at all instead of what they made before. And the more money employers have to pay their employees, the more they have to charge their customers to make up for the extra money they have to pay out. So yes, it does directly increase inflation.

Answer 9

oil prices cause inflation.