People in America making under $12.00 per hour are unable to provide for basic necessities such as food, shelter and medical needs. Should the minimum wage be increased to $12.00 per hour so people willing and able to work can provide for basic necessities?
2007-01-25 23:02:18 · 7 answers · asked by Anonymous in Social Science ➔ Economics
It would really be nice,but most company`s wouldn`t want to do that.I have learned,that most company`s set their profit margin higher and higher every year.Why can`t they be happy with just a regular profit income.Doesn`t profit mean Extra earnings anyway.That is something us lower income level people wouln`t know anything about.Instead of our spending power getting a chance to increase it just keep`s being reduced.I do have a feeling,that this year will maby open some economic strategist`s eye`s.They will start to notice,that the economy is in big trouble.$12.00 per houre does sound nice.I actuelly read an article in the Oklahoma City newspaper,where a women stated,that she didn`t think that unskilled workers like Dishwashers should not be payed more.That really upset me ,because she does not realize how much skill it really takes.It is ignorent and concieded.
2007-01-26 00:30:05 · answer #1 · answered by spazz 3 · 0⤊ 1⤋
Ralph Nader used this 6 or 7 years ago in a Presidential campaign. It won't work. Here is why:
Inflation from the rapid rise in wages would destroy any gain in income and would most likely leave minimum wage workers with LESS purchasing power than before the change.
The owners who have to pay higher wages would fire some workers and would have to raise prices in order to pay for the new minimum wage. These higher prices would send ripples through the economy resulting in higher prices everywhere. This would lead to workers making more that minimum wage demanding a raise because their purchasing power has been lowered. The resulting ripples would cause more inflation leaving the minimum wage is even more inadequate than it started out.
No easy answer for this one.
2007-01-25 23:14:34 · answer #2 · answered by Yo, Teach! 4 · 1⤊ 0⤋
It has nothing to do with a living wage. Living wage is a marketing term to get you to buy into the idea. Wages are determined by the market based on the value of the labor supplied. Minimum wage laws are designed to assuage the guilty consciences of politicians who cheated people out of a good education through the corrupt public school monopoly.
2007-01-26 02:29:42 · answer #3 · answered by JimTO 2 · 0⤊ 1⤋
The question about increase in the living standard do not only resy on minimum wage, That the wage is even incrasesd do not provide a good living standard.increase in living wage when other complementary factors inreases has no impact on the luiving standard.
2007-01-26 01:06:57 · answer #4 · answered by spaco 1 · 0⤊ 1⤋
Why not make it $35 an hour?
See how it's just completely arbitrary?
There shouldn't even be a minimum wage--any time something is done to limit free markets there's always some negative consequences someplace else.
2007-01-25 23:11:57 · answer #5 · answered by Mr_B 5 · 1⤊ 1⤋
While it would be nice- there would be such an outcry from higher-income earning people when the one who asks "Do you want fries with that?" is forced to charge you $10 to pay for them.
2007-01-25 23:08:53 · answer #6 · answered by bandit 6 · 0⤊ 0⤋
Yes!!! it shoul'd be raised to $15.00 per hour and then the government should put a cap on how much manufacturers can charge for their products. and inforce the time and a half laws as well.
2007-01-25 23:08:51 · answer #7 · answered by Anonymous · 0⤊ 1⤋