What will this effect have on inflation? On cost of living? On the prices of gas? On our enconomy overall? Will this help or hurt our position on illegal immigration? Does this hurt or help our stance on many other global issues such as poverty, crime, malnutrition, or war? You can answer a few or all just please give a reasonalbe answer if you are going to answer!
2007-07-30 22:24:01 · 8 answers · asked by papad753 2 in Politics & Government ➔ Other - Politics & Government
None... thats how many benifets it will have. Look at it this way: Corperations are going to make their money one way or another, so if they lose money paying wages... how do you think they get that money back?.... They raise prices. Simple as that.
I don't see how it would affect illegal immegration in any positive way. It just means more mexicans will come into the states to get work.... and more taxes to send them back, unles they get the international expressway from mexico to canida built... then mexicans will be flooding all over the states, and Canida.
2007-07-30 22:31:40 · answer #1 · answered by Anonymous · 2⤊ 0⤋
The only reason the minimum wage increased is because it's election time. Politicians want to "neutralize" the issue before it becomes a speaking point of debate. In the background, the federal government handed out some nice raises to each other.
In leagaleez terms, the increase in the minimum wage means the federal poverty threshold level increased from $14.5k to $17.5k for a single parent, which is the measure for immigrating family into the US, the annual income eligibility for government assistance and nutrition charting. The minimum wage has not kept pace with inflation or the cost of health care at all and the funds required to hire someone will be very affordable in 2 years time due to rapid inflation if we disallow mandated health care.
Minimum wage is not the cause of inflation. Debt is the economic force that drives inflation. Inflation as defined by Ronald Reagan as: "Theft by government". The textbook definition of inflation is: "failure by government to meet its promises and obligations by debasing the currency."
2007-07-30 22:35:50 · answer #2 · answered by Anonymous · 1⤊ 1⤋
The minimum wage is bad because the government should have no say in a contracted wage between you and your employer. It actually has an adverse effect on employment and prices of goods. Lets say you have a small business and your labor budget is $1000 per week and you employ 4 people. That equates to $250 per week. So, now the government steps in and says you MUST pay your employees more. So now you have to pay each employee $312 per week which now costs you roughly $1,250 per week for all four employees. Do you see what that did? You're only budgeting for $1,000 per week, but now it's increased by $250 per week which is what you used to pay one person per week. So now what do you do? You either have to raise the price of your goods to compensate for the extra money you have to pay (which hurts consumers), or you have to lay off one of your employees (which of course hurts the workforce) and you'll have to still keep the same work load with 3 people now instead of 4. The entire minimum wage concept is stupid and it's just a feel good law where the govt tries to get votes from the poor. The market should be the determining factor of how much someone is paid, NOT the government.
It's our public school education that's the reason the dumb masses in this country don't understand simple economics
2007-07-30 22:54:53 · answer #3 · answered by AmericanPatriot 3 · 1⤊ 2⤋
Negligible.
The federal minimum wage is already lower (even after the increase) than the state minimum wages in most states -- meaning there is no net difference.
And in the few places where it actually forces an increase -- the person gets an extra $24 per week before taxes. But someone making the minimum wage is still living at the poverty line, even after the increase.
2007-07-30 22:29:21 · answer #4 · answered by coragryph 7 · 1⤊ 1⤋
The only long term effect will be its negation when they raise the price of necessities once more! How can you raise one side without a stop or price control on the other side? There have to be limits.We need price controls tied to supply and demand. In other words they can't raise prices unless they produce a surplus.
2007-07-31 00:48:35 · answer #5 · answered by Anonymous · 1⤊ 0⤋
The minimum salary has not yet been raised federally. it would get exceeded next legislative consultation, which might recommend previous due 2007 or early 2008 it gets raised. in spite of the indisputable fact that bunch of cities and states voted to improve their very own community minimum salary and a few of those voted to improve them in January. in case you have an interest in minimum salary regulations you will possibly desire to heavily reassess your existence visit college!
2016-10-13 04:48:28 · answer #6 · answered by ? 4 · 0⤊ 0⤋
more taxes and inflation. liberals will never understand government doesnt create jobs small business does and regulation hinders that.
2007-07-30 23:39:41 · answer #7 · answered by koalatcomics 7 · 2⤊ 1⤋
Capitalism without strict labor laws is nothing more than economic slavery.
2007-07-30 23:02:20 · answer #8 · answered by Anonymous · 1⤊ 2⤋