Why does our government force us to work for a minimum wage? What if the work we do is actually not worth whatever the minimum wage is--what if my work is only worth $3 per hour--why do our legislators insist I earn $7.25 per hour? Here are the economic consequences:
1. They tried to mandate in the city of Chicago that any store over 70,000 square feet must pay high hourly wages with benefits--Walmart and Target promptly canceled plans to build stores in "underserved areas"
2. By requiring business to pay minimum wage, you give the incentive to corporations and small business to either outsource to another country or automate a position once occupied by a human.
3. I have learned that politicians are very bad economists and don't make very wise decisions. What do we need to do as citizens to make our legislators spend our tax dollars in a prudent way?
2007-02-10
04:56:43
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8 answers
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asked by
The Economic truth
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Business & Finance
➔ Careers & Employment