About minimum wage?

Question

I have seen many insightful answers on here about how nobody can live on the current minimum wage and how the government needs to do something about it.

These envious amounts of logic and compassion have me inspired.

Therefore, I think we should lobby the government to raise the minimum wage to $30/hour. That's over $60,000 a year. Then nobody in this whole country would be poor.

What do you think???

I see that a few people have grasped the anti-logic of increasing minimum wage by 500%. So tell me then, how is it that a 50% raise is different in any way other than scope?

Answer 1

You obviously don't grasp the economics of raising the minimum wage...


Edit - your right...my take on minimum wage....

The impact of raising the minimum wage has been studied since its inception. It is proven that there are job-destroying features of a higher minimum wage. Estimates of the job losses of raising the minimum wage from $4.25 to $5.15 in 1996, ranged from 625,000 to 100,000 lost jobs. It is important to recognize that the jobs lost are mainly entry-level jobs. By destroying entry-level jobs, a higher minimum wage harms the lifetime earnings prospects of low-skilled workers.

The proponents of a higher minimum wage argue that it is vitally important to raise it in order to improve the lives of poor workers. However, the raise will have only a limited impact on poor working families. For example; A single parent with two children living in California would gain only 26 cents from a 90 cent increase in the minimum wage.

To put this gain in perspective, each minimum wage worker earns $4.25 (hypothetical) an hour brings home $3.92 for each hour worked once payroll taxes are deducted. The employer costs of a minimum wage worker is $4.58 an hour when the employers share of the payroll tax is included. If workers could take home the amount of money it costs the employer to hire workers, they could have 62 cents more per hour. Clearly, the California parent would be better off if the tax wedge were reduced, rather than increasing the minimum wage.

In conclusion the campaign to raise the minimum wage will have little positive impact on the lives of poor people. Rather, it is a political measure that plays to a misunderstanding of the impact of higher minimum wages.

Answer 2

Nope there would still be poor people.

It all has to do with economics. If you raise the minimum wage, then prices of things go up. If the minimum wage was to go up to $30/hour the price of milk alone would be about $15 or more, a normal price for a house would be about 1 million. Gas would raise up to be $20 a gallon.

Needless to say we have to be careful with our economy. If minimum wage were to go up that high our economy would fall. It is not a very good idea or smart one at that.

People are able to live off of minimum wage, thats what its there for. With minimum wage they should be able to afford the nessecities in life. People who don't want to live off of minimum wage for the rest of their lives need to start a career where they can start making more. They need to go to college. If they can't afford that there are grands that the goverment gives out to help pay for it.

Answer 3

they don't realize economics. they have self assurance that only passing a regulation will advance the universal of residing for the undesirable. even as it does the different. once you advance the minimum salary all you should anticipate are a shrink in hours and advance in value and human beings will lose authentic income. If the minimum salary became repealed- it would want to be logical to anticipate a minimum of starting up pay might want to drop besides the undeniable fact that this can carry about decrease prices and unemployment.

Answer 4

Wow. I wish we didn't have any poverty in this country of ours. It would be great if we could all make $30.00 per hour. What would happen to the cost of goods? Clothing? Food? Would they be so outrageously high that $30.00 an hour seemed like the new "minimum wage"? It poses so many questions. It is a good conversation motivator! Geez, can't wait 'til lunch today!

Answer 5

Did you happen to see the program where they gave the homeless man $100,000? He is now broke and homeless again. Most homeless are that way because of either mental health issues or because they choose to be (yes-its true). Also, there are WAY too many people in this country who CHOOSE not to work. They have baby after baby after baby and they cannot feed or take care of the ones they already have. Well, I have to get back to work now, so I can pay my taxes and pay these people's bills for them!

Answer 6

I think it would be great but then we would have to pay a lot more for everything. A place like taco bell is a good example---you go there & there's 10 people + working all making $30 an hour. We would pay a lot more for our taco's!

Answer 7

then the jobs that already pay more than $60,000 a year will have to pay more to keep those people there

and everything costs so much that $60,000 a year won't be enough to live on
you'll be paying $40.00 for a Big Mac

there are many many reasons that that won't work

Answer 8

That would mean pizzas and other things would cost much more where as the minium wage has not kept up with inflation, lower congressional salries should be mandated as well

Answer 9

There is no reason why we cannot spread the wealth around. I think 60,000 is more insane then progressive, but I would say 30,000 would be good in the government would hold down inflation.

Answer 10

Inflation much?