do you think an increase in minimum wage would be a good or bad thing? Why?

Answer 1

It would close all the "Ma and Pa" shops and force all the small business owners to file bankruptcy. Hope I could help!

Answer 2

It is a great thing.
any business that goes out of business because of the nominal increase in wages would be going out of business anyway. Yes, it is nominal. 7.50 to 7.80 is 30 cents. (in Oregon) that is a 4% increase. Remember the skilled workers are not affected because they make over minimum wage. The 5% to 8% of the work force that actually work for this wage get an additional $2.40 a day. (8 hours x 30 cents (in Oregon))
The argument that small companies will have to lay-off employees or shut down all together over a 4% increase in the cost of doing of business is ludicrous. Labor is just like any other expense a business must pay.
One more thing if the business only pays its employees the minimum wage it will fail eventually because those employees will leave for higher paying jobs as soon as they can causing the employer to spend more more in recruitment and training because of high turn-over. Don't believe the non-sense about raising the minimum wage is bad for business that is just some greedy business owner that is just in it for themselves. If wages stay low greedy business will abuse workers; they can always get a replacement minimum wage worker because there is always someone desperate for money to take advantage of.
S W E A T S H O P

Answer 3

Bad thing overall.

Paying a higher minimum wage hurts more employees than it helps, because there are less jobs available due to an increase in costs to an employer. Either the business has to cut hours paid out or raise their prices to the consumer to keep a reasonable profit margin, so inflation results. Inflation means that people are spending more money for less service or product, so they buy less (can't afford same level of spending overall). They buy less, so less service is needed and fewer products are needed to be produced, so lay offs happen which is good because businesses are now paying more for the same employee who doesn't produce any more.

Less jobs, fewer choices for consumers, and inflation.

I am also an employer though and pay minimum wage plus commissions. My people can make a ton of money (6 figures), but I can't afford to take as many chances on new employees that are not experienced because the cost is higher with a higher minimum, so someone who could have had a great opportunity doesn't get the chance to try. I have to stick with experienced people only

Answer 4

It's always been a bad idea. It has been called a tax on the poor by the slightly less poor. If all it takes to make living easier is to increase a minimum wage, then why not go whole hog and raise it to $15 or $20 an hour. Why? Because then employers would hire fewer people and prices would go up. The least employable can no longer be hired at all and costs would go up for everyone including them.

When businesses are surveyed after an increase, even many of those who said they wouldn't change their employment needs and prices, have found themselves having to do so in order to stay in business.

Answer 5

It should be the market that determines the cost not the gov. . Minimum wage was meant for young teens an young adults to learn through these jobs. You raise the pay then the owners of the company have to raise the cost of the product and it is pasted to you. Example one, you work at a fast food chain. You get the raise. The owner now to make ends meet might have to either let someone go and you have to pick up the slack and / or he will raise the cost of the food. Example two, the people who are pushing for this also are with the unions. The unions will say , "well if you are going to pay these unskilled workers this amount then you should pay experts (in the Union ) move money". If you follow the trend it always falls into place that way every time, example one and two. See for yourself.

Answer 6

Any time a worker can get an increase in his or her hourly wage, it is a good thing. A 2 dollar an hour increase to $7.15 per hour although very small is a starting point to help gain the wage earner closer to a quality of life.I would like to see the politicians live on that wage.If a business cannot pay their workers a livable wage maybe they should not be in business.The minimum wage should be reviewed every year.Businesses should also consider a cost of living wage increase.

Answer 7

In California minimum wage just went up to $7.50. It's great for all the teenagers who work where I work, and even for adults who wouldn't be able to live on much less (housing costs are insane out here). It's bad for employers, because now they have to spend more on wages. It depends whether you're the employee or the employer.

Answer 8

Good thing, of course.

The BS that higher minimum wage means fewer jobs is typical business owner propaganda. Hard to believe that anyone who actually thinks would swallow that stuff.

People who earn minimum wage generally can't afford to save their money. They spend it.

The more money that workers have to spend, the more money gets spread around the whole economy.

More money spent equals more products purchased equals more products manufactured equals more jobs. Common sense.

Where I live the minimum wage has gone up. The unemployment rate has gone down.

Answer 9

it is going to be bad. Alot of those min wage jobs will be lost. If you have a business with multiple min wage workers they will probably cut hours/jobs to make up for the increase in payroll. the reason there is min wage jobs is for unskilled workers to get experience to get better paying jobs ($7-$10 per hour or more) I heard on CNN (I think) that most people with min wage jobs are 2nd, 3rd bread winners in family not 1st. also just hink about it, the government is going to be the only one with more money. There will be more income taxes paid, then those workers are just going to spend the money, thus more sales taxe paid. The gov't tries to make it sound great but it makes no ecinomic sense

Answer 10

My parents are on disability and draw a check. With minimum wage going up, everything else will have to go up too, but some things, like the money my parents recieve, won't go up.

I can't help that I was born into this family but I dread it because I'm hungry everyday and can't help it. When everything goes up except what we get it will be like we have even less.

Answer 11

market forces should determine what u are paid. people say they want politicians to stop sticking their nose into things then they let them play god with pay.

it makes no sense. why not make the minimum wage $100 an hour? when u set an arbitrary amount it makes no sense and hurts the economy