has raising minimum wages benefited the poor in any state?

Question

if it has, then why are people against raising the national minimum wage?

Answer 1

no raising the minimum wage doesn't help anyone. When you raise the minimum wage the employers have to pay more so they have to raise their prices to cover their loss. Plus many people will lose their jobs because the employer can't afford to pay them. And business will go out of business. look through out history.

Answer 2

No. It only benefits the poor temporarily for several pay periods, but then because there is more money and demand from the poor to improve their living standard and upgrade their conditions (but not save any of it), inflation is spurred which results in rising prices and less supply to meet people's wants and needs in the market. Labor costs increase for employers of the generally unskilled and these eat corporate profits. Corporations are then forced to reduce their workforce and the minimum wage earners who just got a spike in earnings no longer have those earnings.

Raising the minimum wage also devalues everybody else's wages. This is another effect of inflation due to increasing the minimum wage. While the poor's purchasing power increases only temporarily, the rest of the labor force's purchasing power actually decreases because their wages did not go up either.

Best, I think to index minimum wage growth to inflation, but provide more opportunities by encouraging corporations to endow funds for scholarships for the poor to go to school and learn skills and advance to make them more valuable to employers and more competitive for a real wage.

Answer 3

Newsweek writer Robert Samuelson writes that a minimum wage increase will mostly benefit teen workers from middle class backgrounds. It won't help the poor much because the majority of poor households don't have a full time worker or any worker at all.

Answer 4

oh course in benefits the poor, but u have 2 look @ overall welfare...

mcdonalds will not go out of business because they have 2 pay employee's more, and they are not going to make it the 1.50 menu either... the market is 2 competative to just raise prices like that, and there is also menu costs...

but they may have 2 cut costs in other places, hurting suppliers and what not or changing the way employees do their job task to improve effecticenty, and then letting some go...

overall welfare is always reduced with price controls lik these, but u actually have 2 take ur argument out of the text book and into the real world ppl

Answer 5

No it will not benefit then except they will find a slight rise in happiness levels, thats about it.

The only ones who will benefit from the increase is the businesses that the poor people shop at for they will simply spend more now rather than save it or invest it to get out of the life they are in. They choose to be there by doing so.

Answer 6

I think it will, it has been 10 years since it was last looked at.

If this country does not support minimum wage higher than well-fair then we will go back to the 70ies and early 80ies. It's better to have these people working than receiving an hand out.

The people that are against it, right wing Republicans.

Answer 7

Raising the minumum wage doesn't really benefit the poor in my view, because the Cost of living always seem to go up, so you never notice the change.

Answer 8

Yes it has. Why are people against it? Because it places a greater financial burden on companies that pay the minimum wage to their employees. This is kind of obvious.

Answer 9

you will not see the effects right away., industry will evolve evolve reducing the desire to hire for less

Answer 10

EVERYTHING else goes up. And GAS is only the begining.