Minimum wage increase, will HURT America not help it!?

Question

It will make things cost more!

Answer 1

YOU'RE SO RIGHT...

Trying to even get the "Blame America First" Democrats to understand Economics 101 is useless.

Answer 2

Thank you! Minimum wage is a feel good placebo that does more harm than good. The reality is that raising the minimum wage simply reduces the number of minimum wage jobs. What part of high school economics did liberals miss that got them thinking otherwise? Minimum wage jobs are largely in the service industry, and the demand simply won't go up for service industry products and services, so the money to pay the new wage level will have to come from laying off some of the workers or raising the price of the product. A price increase not caused by a demand increase leads to REDUCED demand and therefore more pressure to reduce costs, and thus even more layoffs. Increased unemployment is the major result of raising the minimum wage. Then consider the fact that higher unemployment creates more unemployment, as working class people find themselves unable to get the training and experience that are the real benefit of entry-level jobs. It's simple economics at work.

Answer 3

But will reduce the costs of welfare, medicare, etc. I'm guessing you aren't working a $5.15 an hour job. If the wages were increased by $2 an hour (thats less than $80 a week before tax for a 40 hour week) then the weekly wage for a single person earning the minimum wage would increase by $62 (after tax) making them unable to recieve federal assistance with food & healthcare. This would be less of a burden on the system, thus allowing the saved government money to be spent on education or something equally worthwhile.

The only reason that companies are against the increase in the minimum wage is because they will lose the tax breaks they recieve for employing low income families and families who already receive government assistance. To be honest if a company is currently paying its workers $5.15 an hour they should be ashamed of themselves anyway. Personally I would love to see the CEO's of McD's or Walmart live on $14872 a year.

Answer 4

Things were costing more in the first place. That's why we needed the minimum wage increase. It wouldn't have been needed if prices remained the same. So now those earning minimum wage will have more money to offset the increase in prices. Quit thinking only of yourself. I don't earn minimum wage, but I think everyone that works should be able to live off their work. It's been over 10 years since that wage was increased. It still isn't enough.

Answer 5

A higher minimum wage will not "make things cost more". Manufacturers and retailers will make the cost increases. Giving a somewhat more decent living wage to workers will help the economy if the overpaid executives absorb the cost. Cost goes up either way. Don't let the very small group that controls the major portion of the world's wealth sell you the ridiculous notion that if they give you more, it will cause them to have to take more from you. It is smoke and mirrors.

Answer 6

Oh yes, let's be selfish about the whole thing. Don't increase minimum wage for people who need it because it's going to cost us more, those who can already afford the cost. I didn't hear anyone complaining when Bush gave the people $300 checks because we had ALL this surplus knowing it would cost us in the end.

Answer 7

Inflation does get affected by minimum wage. However, increasing minimum wage to a higher amount will help more than hurt the country. The economy is driven by the amount of money in circulation. When people do not have enough to spend, the save what they can rather than spend their excess money. This is doubly bad during a recession. During a recession most people save their money rather than spend it. This takes money out of circulation and causes inflation in and of itself.

Minimum wage increase places more disposable income in the hands of the lower class and lower middle classes. The increase in disposable income should stimulate an increase in spending by these classes and as such companies will make more money and in turn invest in new ventures. This domino affect is need to help bring the country out of a recession. It is the same theory as changing the interest rates and cutting taxes.

Answer 8

Yes, the money has to come from somewhere and it willl come from our pockets. The restaurant business owners will have to pay more and small business ownwers will struggle to find a way to pay teenagers more money. It will increase the prices on products and cause an inflation. The ones benefiting from these are teenagers and people who didn't graduate high school. Should they get more money? Increasing minimum wage isn't necessary and I think it will lead our country in a messy financial state.

Answer 9

Will it? Perhaps the big companies that are whining about this should take a couple million from their CEOs to offset it. But, no! Then they might not be able to afford that new home in the Hamptons...

It really irks me when companies like WalMart make a big stink over this. When our state had it's increase, one of the managers was on th news, looking all grave, talking about how we should approve it because it would make them unable to hire as many people. Huh? WalMart is a billion dollar corporation! They can afford it. I felt slightly bad for some of the small businesses, but not the multi-million dollar corporations.

Answer 10

i think of so.... one question: the place have minimum wages failed? i can checklist you off a extensive style of countries that have not have been given them which you will not prefer to stay in... the uncomplicated fact is... the marketplace would not regulate that is self... and in case you seem on the low unemployment fee, it rather is obviously no longer a subject... if something, we choose a minimum salary via fact we are just about over-employed... which could be a subject in its self... you're able to additionally seem at many states that have their own bigger minimum salary and that they are all doing large... now granted, there are limits... you basically won't be able to hike up the minimum salary to $30 an hour and anticipate no issues, yet spectacular now, this could be a "verify" to many roles that are on the low tiers... definitely, you could seem returned at each minimum salary enhance in American historic previous... and not one of the flaws the "doom and gloomers" crow approximately come real to any significant degree which you would be able to relate to the salary enhance... interior the top, that is putting extra income human beings's wallet (those that do like it) and that they spend it, helping the economic equipment... and that's lots extra of a develop than any injury listed here with the aid of every physique...

Answer 11

There are eight(8*)+ million Americans working for Poverty Level Wages!!! An honest days pay for an honest days work is not much to expect from any Employer!!! To not do so is to keep them in Perpetual Poverty!!! No one who works for a living should have to live in Poverty!! Pay them a fair and equitable wage!! You cannot enrich others without enriching yourself!!! It's short of immoral not to do so!! If they want to improve the lives of people working for Poverty Level Wages then they will have to pay above Poverty Wages!! The value you place on your Employees is the value you place on yourself!!! An honest days pay for an honest days work is long overdue by the U.S. Government and Employers in this Country!! Both the Government and Employers in America have Kept eight(8*)+ million workers in this Country in Poverty since 1997 because they refused to raise the Minimum Wage since 1997!! It is disgusting and revolting to allow the U.S. Government and American Employers to keep these Workers in Perpetual Poverty any longer!!! What would they do if those eight(8*)+ million workers walked off the job tomorrow until they were paid a fair and decent Living Wage??This is a Crime against HUMANITY!!! How much longer are they going to keep these hard working Americans in Slavery???? This MADNESS must Stop!!!