I'm having difficulty understanding why politicians push for the raising of minimum wage when all it will do is cause inflation. If companies have to pay their workers more money, they will charge more for their goods or services, and the costs will go up for everyone, hence defeating the purpose. What is the point? I don't get a raise in my salary because of this increase. Doesn't it just screw anyone making more than minimum wage and in turn, screws people receiving that raise as well? Intelligent answers only please.
2007-01-04 10:14:44 · 11 answers · asked by Ray Michael 4 in Social Science ➔ Economics
There are few people who seriously advocate raising the minimum wage in any real sense, and even fewer people who take that idea seriously. All that's accomplished by the increases that are passed is to attempt to keep the minimum wage up with inflation, which happens even when minimum wages remain unchanged. The same dollar amout will buy less and less, and people deserve for their wages not to drop below a level that is woefully insufficient to meet basic expenses.
2007-01-04 11:56:23 · answer #1 · answered by Geoffrey F 4 · 1⤊ 1⤋
Intelligent answer only???? Anyone who disagrees with your logic does not deserve to post. You are right on. I saw a couple of uneducated fools answer that those who do not have the ability to negotiate wages will be able to get more money and will stimulate demand by allow more people to purchase goods and services. Well, you cannot put the cart before the horse. Demand cannot precede production. Production has to come first. If you increase the cost of production, there will be less of it and the price of the items produced will be higher. Increase minimum wage and more people will be out of work while the price gets higher for everyone else thereby slowing economic growth. For God's sakes people, this is a free economy. Who are you to say what an employer can pay an employee. Who in the $&*% do you think you are?????
2007-01-04 13:57:58 · answer #2 · answered by paddlingdummy 1 · 3⤊ 0⤋
Everybody wishes everyone is rich. People dont realize that raising the minimum wage does not benefit poor people in any way. any increase in capital is offset by inflation which ends up hurting poor old people in retirement.
People are unable to take the logical steps to reach a somewhat obvious conclusion like that. It dosnt help either that almost every journalist out there is economically illiterate.
2007-01-04 10:54:38 · answer #3 · answered by Ginger P 2 · 2⤊ 0⤋
It benefits most those who are not in much of a position to negotiate for higher wages. I suspect that the total increase in wages to those at the minimum wage is so insignificant that there will be little or no impact on inflation.
2007-01-04 10:23:24 · answer #4 · answered by Anonymous · 0⤊ 1⤋
The point is that congress has voted itself pay raises without raising the minimum wage. If the minimum wage is to remain unchanged, then so should congressional salaries.
2007-01-04 10:19:05 · answer #5 · answered by OTTO 6 · 3⤊ 1⤋
you will desire to look at minimum salary as against living salary. you will desire to evaluate minimum wages in diverse states and diverse worldwide places and how those wages look to effect the labour industry. you will desire to look at despite if will enhance in minimum wages actual do enhance unemployment as predicted by skill of concept or if the reality is a few thing diverse as some study have shown. you will desire to look on the question of despite if any minimum salary is needed; would desire to labour furnish and demand purely be left to the industry? Does bigger minimum salary shrink social advice rates? Does bigger minimum salary enhance provider sector expenses?
2016-10-30 00:30:56 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Because politicians care about the following issues, in the following order:
1) Re-election
2) Re-election
3) Re-election
And they know that 99% of the population has no grasp on the economics behind the issue you're raising.
2007-01-04 10:37:39 · answer #7 · answered by Anonymous · 2⤊ 0⤋
dude,if its not gone up for 10 years? they cant have been pushing very hard! bills and rents have gone up over the years,could you support a family and save for a pension
on the minimum?theres millions that are struggling to
2007-01-04 10:24:45 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Seriously, the only point is to get votes. Period.
The economic IQ of the majority of Americans is below 60.
I'm glad somebody gets it.
.
2007-01-04 13:45:08 · answer #9 · answered by Zak 5 · 2⤊ 0⤋
i can. raising minimum wage will help people who r poor buy better things if they dont have a college degree. along with technology thats moving prices r going up.
2007-01-04 10:18:17 · answer #10 · answered by Graham H 1 · 0⤊ 2⤋