1) Lowering the value of the dollar is good.
2) Lower or get rid of minimum wage.
Okay, I can see an argument for either one or the other. But being used together? Yeah, it'll help businesses, but is it worth blasting the working class?
2007-12-14 11:48:50 · 7 answers · asked by Mitchell 5 in Politics & Government ➔ Politics
When I heard our dollar was on par with the Canadian dollar, I asked a question about how badly the declining power of our dollar will affect US trade. Many people said it is beneficial to us. NO IT IS NOT! Don't they see how significantly that will slash our imports?? Subsequently, the price of EVERYTHING will soar!
And for the minimum wage- no, it is not worth blasting the middle class so that small businesses like McDonalds chains can boost their already phenominal profits...
2007-12-14 11:54:42 · answer #1 · answered by Anonymous · 3⤊ 0⤋
When you have money in the foreign markets it makes you money, you buy dollars at the lower rate and soon the fed will raise the rates bring the value of the dollar up.
The minimum wage is hurting big business, Ha. What is hurting the middle and lower class is the government!!!!
2007-12-14 12:06:29 · answer #2 · answered by Coop 366 7 · 2⤊ 0⤋
I can't see how lowering the value of the dollar is good in any way. If the minimum wage gets lowered, there will be more people on welfare, more people won't be able to buy necessities such as health insurance and we'll hear a lot of griping from the Republicans about how much these people are costing us.
2007-12-14 11:53:33 · answer #3 · answered by katydid 7 · 3⤊ 0⤋
I don't know how lowering the value of a dollar can be good but I do know that raising the minimum wage is bad. Raising min wage brings more people closer to the poverty line. Every time min wage is raised everybody takes a pay cut,
So say min wage is $5 and hour and you just got a raise to $10 an hour (you are making twice min wage). then min wage goes up to $8 an hour but you don't get a raise just because min went up. So you go from making twice min wage to $2 over min. Then prices go up. (It is inevitable as someone has to pay for the pay increase.) So the only thing accomplished was that we all got drawn closer to the poverty line because for every dollar min wage goes up we all get drawn $1 closer to poverty plus those unemployed get drawn $1 farther in the hole.
2007-12-14 12:43:08 · answer #4 · answered by froghugger 6 · 0⤊ 0⤋
exactly right both of them are good for business but not the working class.
the low dollar value means our dollar is like the peso to europeans,well not as low in value as the peso but cheap,so they can buy our exports for cheap which means exporting good will go up which is good for u if u own a business that ships sells to oversea buyers.
but it'll hurt our imports from european countries seeing it'll cost more to import
of course lower minimum wage would only benifit business owners
2007-12-14 11:55:17 · answer #5 · answered by tyler "god of typos" 5 · 3⤊ 0⤋
i cant think of anything except 1 for getting rid of minimum wage because if you get rid of that youll probably be able to make more money but i seriously dont like either myself
2007-12-15 10:52:46 · answer #6 · answered by half-jaw 2 · 0⤊ 0⤋
no one cares about the working class people any more.everything is all about the rich and how much more they get take away from the poor.and bush is leading the pack.
2007-12-14 12:01:03 · answer #7 · answered by bigjon5555 4 · 3⤊ 0⤋