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325 Comments
- gronne, on 10/12/2007, -56/+147@Viper
If you look at states that have raised the minimum wage on their own, you'll find that the "creates unemployment" argument is total BS. This is just FUD spread by companies who want to keep their costs down with no regard for the quality of life for their employees.
You need to watch the " 30 Days" episode where they try to live on minimum wage. It's practically impossible and forces many people onto welfare.
You can get the episode on iTunes. - NICU, on 10/12/2007, -22/+87The only negative consequences would be costs rising for the stores, which in turn raises prices for shoppers, which makes the people making minimum wage barely able to afford the products they sell, again. Its just going to increase inflation unless you can convince the owners and investors to take less in profits and give more to their poorest employees.
- gronne, on 10/12/2007, -32/+80@atdigg
You can bet on it but I don't think it holds up. 99% the US isn't rich but we gladly swallow so much of garbage the rich and powerful shove down our throats.
They make it sound like we're being so selfish asking them to bump someones hourly wage from $5 to $7 (which is still barely livable in most places) but they have no problem with the billions of dollars in executive perks they spend each year.
Wake up! We really need to start questioning the people who have everything to gain by telling us to believe something. - kjigz, on 10/12/2007, -13/+62Most economists agree raising minimum wage increases inflation.
http://en.wikipedia.org/wiki/Price/wage_spiral - segphault, on 10/12/2007, -27/+65A higher minimum wage will make it more difficult for small, local businesses to compete with large multinationals. By increasing the minimum wage you decrease incentives for individuals to start their own businesses and you create incentives for major companies to move their operations overseas where labor is cheaper. The end result is less competition in the domestic retail market and, in some cases, higher prices because companies will pass the costs on to consumers.
By supporting an increase in the minimum wage, you are undermining competition and the free-market economy and promoting legislation that will decrease the standard of living in the long term, making goods and services less accessible to the poor. You are also paving the way for higher unemployment because companies that cannot afford to pay higher wages will be forced to cut down the size of their staff. A higher minimum wage will also give companies incentives to find ways to leverage automation in order to eliminate the need for workers wherever possible.
Please think about all of the economic consequences before expressing support for a higher minimum wage. If you truly care about improving the lives of working-class Americans, there are far more positive and meaningful approaches to facilitating a higher standard of living. What we don't need are things like a higher minimum wage that will make it harder for working-class people to start businesses.
Did you know that Wal-Mart strongly supports increasing the minimum wage? http://money.cnn.com/2005/10/25/news/fortune500/walmart_wage/
Big companies like wal-mart can afford to pay higher wages but know that their competitors cannot. That is why companies like wal-mart support a higher minimum wage. It decreases competition and gives them greater market dominance. - ViperDaimao, on 10/12/2007, -36/+72"Every worker from 16 up deserves a dignified LIVING wage."
No they don't. No one "deserves" anything. You have to work for it. - NateB2, on 10/12/2007, -7/+41@matrox
If the minimum wage goes up, the cashiers' wages go up. Who pays them? The store. The store probably has an already tight profit margin, so to stay in business they must make a decision: (1.) Lay off employees (2.) Raise prices on products, or (3.) All of the above. If they lay off people, those people are now unemployed, and are forced to look for a job. If they raise prices, the employees who are making minimum wage will essentially be able to buy what they were able to buy before the minimum wage increase. - darksofa, on 10/12/2007, -24/+54"Work harder and you'll earn more. Go to school and you'll earn more."
I have a question for you: How do you afford post-secondary education when you're making minimum wage? If you come from a family situation where your parents couldn't afford to pay for your school, you're going to have a very hard time pulling this off.
"Work harder and you'll earn more." Minimum wage jobs are at an extreme disadvantage here, because they tend to have very poor upward mobility. If you're working at McDonald's flipping burgers, how far can you advance, regardless of how hard you work? Pay scale increments are about 30 cents or so, every year or 6-8 months? After a few years of that, the most you can hope for is to make a supervisor role, or maybe even a manager--except that people with education tend to receive preference. To get the jobs that truly pay off the harder you work, you need education.
So it's not so black and white as saying "Work harder, go to school." - teichenauer, on 10/12/2007, -13/+42Chaosgasket, any minimum wage law proposal worth complaining about (all of them) is going to create unemployment if implemented. There are economists who are willing is say a minimum wage law won't create unemployment and a few more will say it won't create any meaningful increase in unemployment or any measurable increase in unemployment. Just because they say so doesn't mean there won't be any increase in unemployment.
Minimum wage laws cause increased unemployment. If current minimum wage laws motivate a US vehicle maker to produce cars in Mexico, Canada or South Korea instead of the US then someone in the US is going to be unemployed as a result.
Siszam, I have no objection to every adult worker everywhere making a living for themselves. The government can't arbitrarily create a higher standard of living than civilization and the free market can offer.
There is a reason why, as the article notes, that only 5 of 35 living Nobel Prize winning economists endorse increasing the US minimum wage and that reason is that it is a bad idea, it always has been a bad idea and it always will be a bad idea.
The Ugly Truth About the Minimum Wage Law
http://www.self-gov.org/cox02.html - segphault, on 10/12/2007, -6/+33"There is no way that an hour of someones time is only worth $5.15."
That's a specious argument. If an hour of their time was worth more, you wouldn't need to get the government to force their employers to pay them more.
"If anyone does not want to raise minimum wage, then why dont you work for 5.15 an hour and see how you like it."
Uh... because I worked hard to develop skills so that I won't have to work for $5.15/hr anymore?
"If employees are expendable then why would they not be fired right now. Businesses need their employees and if the wage is raised, they will have to pay it or not have the workers they need."
In many, many cases companies use domestic labor because it is the most economically efficient option. As soon as it ceases to be the most economically efficient option, they start using foreign labor or they use technology. As soon as it is cheaper to pay somebody in another country to do it or build and maintain a machine to do it, companies will. Raising the minimum wage is going to give companies a very good reason to look for ways to replace domestic labor. It's worth noting that McDonald's has found ways to outsource drive-thru order taking. - constana, on 10/12/2007, -21/+47@anyone suggesting raising the min. wage DOESN'T create unemployment
It's pure intellectual laziness to suggest such a thing. I'm certain that everyone on here advocating this idea is genuinely concerned with the well-being of the poor. But it's lazy to suggest such a thing, because its obviously not true.
If raising the min. wage does NOT create unemployment then why only raise it to $7.00? Why not raise it much higher? We could completely the concept of the "working poor" if we raised it to $20.00.
Of course no one would advocate such a thing, because it is very obvious that such a policy would create clearly NOTICEABLE effects on employment. A smaller increase creates less noticeable effects, thus allowing people to be deceived into believing nothing bad happened. But this should not be a hard concept to understand. When you raise prices demand decreases by some proportional. This happens with every good - labor included.
It's intellectually lazy for a concerned citizen to claim raising min. wage will not increase unemployment. It very obviously will. Perhaps you can argue that the "net" effect is positive so we can sacrifice a few to help many. But you can't argue that no one is hurt. Some will be.
That's why a super-majority of economists believe the EITC is a better tool to address poverty than the min. wage. - form3hide, on 10/12/2007, -5/+31@pooslinger
i'm sure they'd still cross the border if the min wage was $4 - gronne, on 10/12/2007, -57/+80@23r17i05o42n
Or listen to people like you who want to return the world to feudal societies and lower workplace standards and human rights down to Chinese standards. - Rodzirra, on 10/12/2007, -9/+30If you raise the price of something, fewer of those things will be sold on the market. If you raise the price of labor, you'll decrease the amount of labor the market will "buy." Labor is a "good," just like anything else on the market.
When you're arguing for the working poor, don't forget the working poor who will soon be non-working poor because you've priced them out of the market by increasing the minimum price they can charge for their labor. It's like a surgeon treating a brain tumor with a shotgun blast to the head. - mytea, on 10/12/2007, -50/+71Maybe we could balance it out with a maximum wage as well..
- rugger, on 10/12/2007, -10/+30Most people seem to think a higher minimum wage is always good no matter what. They throw any rational thinking into the wind and let their emotions take over. While a minimum wage can be a good thing at times, largely I think salary/wages should be determined by supply and demand. And for the record I have worked for minimum wage. The pay sucked, but the pay fit the job.
- maiku00, on 10/12/2007, -16/+34hey, I have a great idea. Lets LOWER the minimum wage! I think $3 an hour sounds fair. Imagine all the extra employment it will create!! Jobs for everyone!
/clueless ***** - cheapskate, on 10/12/2007, -12/+30Well said. It is amazing how many people are prepared to accept an illogical proposition: That raising the price of a factor of production (labor) will lead to an increased employment of that factor in production. That does not make any sense at all. What's really sad is that five Nobel-prize winning economists are fine with this proposition.
- raitchison, on 10/12/2007, -5/+21"then why dont you work for 5.15 an hour and see how you like it."
I wouldn't, but then again I have actual marketable jobs skills. I haven't worked minimum wage since I was in High School.
"here is no way that an hour of someones time is only worth $5.15."
There are lots of ways, typically it means someone is still in school and have no skills or work experience, sometimes it means they have zero job skills. Everyone who makes minimum wage by definition is worth minimum wage, if they were worth more they would make more. - benhorstmann, on 10/12/2007, -7/+19Grade-12 econ:
Min wage is a price floor, which creates shortage (in this case jobs).
GO TO COLLEGE, to hell with minimum wages, how much to you expect for flipping burgers? Our parents called that opportunity. - Doofy, on 10/12/2007, -9/+21Teenagers living at home and working at McDonalds do not "live" on their wages.
And if you've ever had a few working for you, you know they're already overpaid at the current minimum wage. - ViperDaimao, on 10/12/2007, -62/+72It does create unemployment. Thats what they mean when they say it hurts the really poor.
- Vouksh, on 10/12/2007, -1/+12This is already happening in my area. A lot of places have really capped their workforce that is targeted towards teens, and most of them are upping the minimum age to 18 for no reason. It's impossible to find a job around here if you're under 18.
- ninesquaredis81, on 10/12/2007, -1/+11Agreed, this headline is discorrect and quite the unaster.
- srodolff, on 10/12/2007, -17/+27Are you currently earning minimum wage? Why not? Because you wanted to earn a better living wage elsewhere.
EVERYONE has that choice.
This "living wage" crap is nonsense. - nmisek, on 10/12/2007, -6/+17The problem with raising minimum wage is not all the negative effects, it is the lack of positive effects. In trying to improve the lives of the impoverished, you are hindering their ability to live. 53% of those earning the minimum wage or less are in the 16-24 age range, with an average family income of over $64,000. The reason that unemployment isn't increased in places with higher minimum wage is because those suburban teens that just got fired are now playing Playstation 3 in their basements, not seeking new jobs. I am very concerned with the economic status of our nation's poor community, but a raise in minimum wage is far from productive in fixing that, it is just an idealistic bubble that will burst immediately upon effect.
Source: http://www.heritage.org/Research/Economy/wm1186.cfm - siszam, on 10/12/2007, -43/+54Headline is bull crap. Every worker from 16 up deserves a dignified LIVING wage. There aren't any people who don't deserve dignity. Its costs more for there to always be a class of under payed, poor than it does to pay decently. If you think it's alright that some people can work 40 to 80 hour weeks and still not make enough to live then you are a messed up individual.
- mrgreen4242, on 10/12/2007, -4/+14Our parents were also paid, relatively, a living wage for any skill level. There's a much larger gap from the top 2% of Americans and the rest now than there was 30 years ago.
- justinjstark, on 10/12/2007, -4/+14I have recently done some presentations on minimum wage and its effects on small businesses and unemployment as a way to bolster support for a minimum wage increase. The Economic Policy Institute (epinet.org) has some independent studies which actually show the economy improving because of a minimum wage increase.
*A 1998 EPI study failed to find any systematic, significant job loss associated with the 1996-97 minimum wage increase. In fact, following the most recent increase in the minimum wage in 1996-97, the low-wage labor market performed better than it had in decades (e.g., lower unemployment rates, increased average hourly wages, increased family income, decreased poverty rates). Studies of the 1990-91 federal minimum wage increase, as well as to studies by David Card and Alan Krueger of several state minimum wage increases, also found no measurable negative impact on employment. Finally, a recent Fiscal Policy Institute (FPI) study of state minimum wages found no evidence of negative employment effects on small businesses.
* The inflation-adjusted value of the minimum wage is 30% lower in 2006 than it was in 1979. It is also at its lowest point (dollar-value-wise) since the mid 1960's.
* Between 1998 and 2001, the number of small business establishments grew twice as quickly in states with higher minimum wages (3.1% vs. 1.6%).
* Employment grew 1.5% more quickly in high minimum wage states.
* Annual and average payroll growth was also faster in higher minimum wage states.
*A study found that federal minimum wage increases in the 1990s have reduced poverty rates (Addison and Blackburn 1999). Yet another study found that a minimum wage increase from $5.15 to $6.15 would lift nearly 900,000 people out of poverty (Sawhill and Thomas, 2001).
More information:
http://www.epinet.org/content.cfm/issueguides_minwage
http://www.epinet.org/content.cfm/webfeatures_viewpoints_raising_minimum_wage_2004
It's time for a minimum wage increase. - inactive, on 10/12/2007, -3/+12Let's see pioneered this 'minimum wage' for workers... and what was the reasoning...
In 1908, the Ford Company released the Ford Model T. The first Model T's were built at the Piquette Manufacturing Plant. The company moved production to the much larger Highland Park Plant to keep up with the demand for the Model T. By 1913, the company had developed all of the basic techniques of the assembly line and mass production. Ford introduced the world's first moving assembly line that year, which reduced chassis assembly time from 12½ hours in October to 2 hours, 40 minutes. However, these innovations were hard on employees, and turnover of workers was very high. Turnover meant delays and extra costs of training, and use of slow workers. In January 1914, Ford solved the employee turnover problem by doubling pay to $5 a day, cutting shifts from nine hours to an eight hour day for a 5 day work week, and instituting hiring practices that identified the best workers. Thus, it pioneered the minimum wage and the 40 hour work week in the United States, before the government enacted it. Thus, Henry Ford became an American legend.
Productivity soared and employee turnover plunged, and the cost per vehicle plummeted. Ford cut prices again and again and invented the system of franchised dealers who were loyal to his brand name. Wall Street had disagreed with Ford's generous labor practices when he began paying workers enough to buy the products they made.
Ford assembly line (1913)By the end of 1913, Ford was producing 50 percent of all cars in the United States, and by 1918 half of all cars in the country were Model Ts.
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He payed the folks enough to buy his own product, keep them happy and productive. But where does this fit in the 'burger flipping model' of business? and should we consider wage based on the profitability or success of the company instead of minimum wage?
Watch out here comes a great idea:
Attach your workers to the success and profits of the company, and they will succeed. Thats how the model should change for the burger joints... and other low pay based companies. Why? they have high turnover, and shoddy service... wouldn't it be great if that changed for small businesses? Call it "Small Biz 2.0" and run with it. - nonannystate, on 10/12/2007, -5/+14I've been poor, buddy, and what I realized is that it sucks. It sucks and it would suck whether I made $5 an hour or $7 an hour. In fact, when I was poor, I was making $3.35 an hour. And guess what? I got a raise to $5 an hour and I was still poor! The ONLY thing that will get poor people out of poverty is to educate them, inform them that motivation and accomplishment are the roads out of Povertyville.
Artificially raising the minimum wage will do nothing to raise these people out of poverty, and very well might hurt them. I know a farmer here in California who axed all his farm hands the last time the minimum wage was increased, and moved to a crop that could be farmed by machine (walnuts, I think it was). So ask the 150 unskilled people who suddenly had no work at all if the minimum wage increase helped them.
So rather than be poor, I got two college educations and guess what? Now I'm RICH! What a shock... - axiomata, on 10/12/2007, -1/+10Yes, a blog, by an economics professor and a judge.
See, when you attempt to discredit an article based on the source, you must consider who the source is, not the type of media used to broadcast it. - Neiby, on 10/12/2007, -5/+13"Or maybe employers wouldn't need to hire foreign labor if they paid wages that an American could live on!"
That's fine as long as those wages are based on the actual value of the job. Minimum wage laws inflate the cost of the work to be done, thereby increasing the cost of the product and passing along this cost to consumers. If you keep artificially raising the costs of employees, at some point the employer will be forced to cut back on employees or to raise the cost of product to make up for the artificial inflation. That's just not a healthy way to manage wages or pricing.
Besides, minimum wage jobs aren't--and have never been--the sort of jobs with which one can support a family or even be self-sufficient. As cold as it sounds, the low wage is incentive to find ways to become more valuable to employers and earn higher wages. - hambend, on 10/12/2007, -10/+18@NICU
I sort of agree with you. The problem is, inflation is happening anyway. That $5.15 isn't worth what it was when someone decided $5.15 was enough. Adjusted for inflation (what economists call the "real" value), minimum wage workers are being paid less and less every year. Something has to be done.
The thing about capitalism is you need money before you can participate. Not the other way around. - Rodzirra, on 10/12/2007, -8/+16BTW, did any of you folks calling "BS" on this even bother to read the article? I'd be really interested to hear your rebuttals to the author's arguments...
- crexor, on 10/12/2007, -1/+9there should be a new digg tab called digg war, and basically, a topic is raised, and couch experts come to the table and duke it out with other "experts" as well as actual people who are versed in whatever the subject is. Almost thunderdome style, two men enter, one man leaves, people watching the argument unfold via the comment system can throw in "weapons" to the arguers, ie. a google/wikipedia search/et cetera. also, i thoroughly enjoyed gronne vs. the digg horde.
- bunni, on 10/12/2007, -2/+9A fulltime employee on a 40-hour work week that goes from $5.25 to $7.50 an hour will cost an employer an additional $360 a month gross.
- Jonty, on 10/12/2007, -7/+14It is a well-established economic fact that minimum wages above the equilibrium wage rate causes unemployment. It really hits the people who aren't a sole provider and are willing to work for a lower wage than they can survive on (because it is supplemented).
- doubledoh, on 10/12/2007, -8/+15Says who? You? People that work harder and SMARTER deserve more money. People that have no skills, no experience and no motivation to improve their lot in life deserve to be paid what the market values them at.
Don't like flipping burgers for 5 bucks an hour?...get a job busing tables...then become a waiter in a couple of months...soon you'll be making 15+ bucks an hour which is enough to put anyone through college. Once you graduate from college, you can make 50K+ a year. That's not enough? Save some of your cash up for a few years, then invest it in your own business or someone else's business.
ANYONE can do this. The world owes you NOTHING. If you want to achieve something in life, YOU need to achieve it.
When will the world grow tired of the dumb and lazy forcing the hard working and smart people to subsidize their laziness? - an0nymous, on 10/12/2007, -1/+8@teich
You raise some powerful points. I tend to agree with economists when it comes to setting economic policy.
I have a question though:
Acknowledging that people currently earning the minimum wage would typically be paid less if the employer could do so legally, would you favor abolishing the minimum wage?
In answering, please consider illegal immigration and the virtually infinite number of poor people that represent supply in the labor market.
I don't have an answer to this question, I am just curious to hear your thoughts. - Doofy, on 10/12/2007, -0/+7A 40% increase in the cost of labor has a similar effect as a 40% increase in the cost of energy. Companies start looking for ways to cut costs and be more efficient while consuming less.
As in LESS LABOR. - pogfreak, on 10/12/2007, -3/+10mytea: I have an idea, lets just add a couple of zeros to the end of everyone's paycheck. Then we can add a couple of more zeros to the cost of everything. Everyone wins!
- NateB2, on 10/12/2007, -2/+9@mytea
Wait... You are willing to pay a bit more to support a wage raise for those earning min. wage, but what about them? They will have to pay more for the same item, thus negating the wage raise. - kanavulator, on 10/12/2007, -5/+11Read the title, man. It doesn't create unemployment. It creates "disemployment".
- CedEx, on 10/12/2007, -5/+11@ austindkelly
Maybe you didn't get enough education in school. Any increase in the minimum wage will be absorbed by the following price increases.
So basically, the people make more money, but now have to spend more money to afford the same things they did BEFORE the increase of minimum wage.
Cost of living increases don't work in isolation. Meaning, it does just affect you and your cup of Starbucks. It affects EVERYONE, especially those people who are on minimum wage. - inactive, on 10/12/2007, -10/+16@matrox212
"So most everyone working in a fast food restaurant, mall or gas station just isn't worth our time?"
Ok. I'll be that guy. No, they're not worth new legislation. And I'll tell you why (it has nothing to do with their value as a person): First, most people working at MinWage levels are either 1) teenagers, or 2) upwardly mobile single people. These people are not significantly affected by a change in the MinWage. Second, the working poor, whom you want to help, are made up not of MinWage workers, but of families of 2-3 where the primary source of waged income earns $10-12/hr, which is already higher than the MinWage, or even the proposed hiked wage.
Raising the MinWage will only cause inflation, raise labor costs to small businesses (Thus increasing unemployment among the working poor, but not among those who work at the MinWage levels, who will take over the jobs lost by the higher paid workers let go, who are not often measured in such studies. THIS is the problem your theories do not take into account.) and put money in the pockets of teenage MinWagers who aren't even living on their own yet.
"They're sub-humans?"
No, of course not. But what's so wrong about paying someone what their job is worth. I'm sorry, but mass producing hamburgers is not worth more than $5.15/hr. It's just not. It's not a value judgement against the person doing the job, it's a judgement against the job.
"Maybe we should just put arm bands and bake them in large ovens since clearly if you make minimum wage you're a worthless person."
Now you're just being silly.
"...back in the 50's when a man was paid enough to buy a home, car and feed his family on one salary, things seemed pretty affordable."
Yep, people were paid more in real dollars back then. Unions were on the rise and all that good stuff. Hmm...how'd those unions help us out? Oh yea, the US auto industry is in shambles. Shockingly, even in the utopian 50s, there were poor people then, too. We just swept them under the rug more often. Wanna go back to that?
"Now a working couple with no kids can barely afford a house on anything less that $100,000/yr combined income in many parts of the country."
Then they ought to move somewhere cheaper. I'm not saying it's easy, but since when is life easy? - jollyllama, on 10/12/2007, -10/+16NateB2:
You're only looking at one side of the equation. The other effect of the minimum wage going up is that the cashier has more money in his/her pocket, which in turn gets respent elsewhere in the economy. Work that through in your model, and you'll see a different picture.
Supply side economics has really gotten a hold of people's brains around here, it's almost like it's taken for granted that increasing incentives toward production and reducing labor costs spurs the ecomomy. Guess what? That's not nessesarily true. I know, shocking, isn't it? - ScionAltera, on 10/12/2007, -1/+7@r81984
"There is no way a higher minimum wage would raise unemployment.
If employees are expendable then why would they not be fired right now."
Assume you have 3 employees at $6/hr working 40 hours a week. They cost your business $720 per week. Give each of them a two dollar raise due to an increase in minimum wage. Now they cost you $960 per week. If losing that $240 per week reduces your profit margin too much, you may have to fire one of your employees to remain profitable. Voila. Unemployment has risen due to an increase in minimum wage.
This example scales up too. Just multiply the employees by 1,000, or even 10,000. Consider a town with a mill, with 3,000 employees. Raise the minimum wage by $2/hr and they have to face paying an extra $240,000 (almost a quarter million dollars!) per week. If they can't, they must fire employees to reclaim the cost. Losing part of its workforce could be enough to force that mill to close its doors and fire all 3,000 employees, thus devastating the economy of an entire town and forcing its inhabitants to move elsewhere.
"Businesses need their employees and if the wage is raised, they will have to pay it or not have the workers they need."
That is exactly what I have demonstrated with my example, and disproves your original argument. It's just that most businesses (especially small businesses) can't afford to pay the additional wages. Large corporations can suck up the costs to some extent, but consider that the more employees you employ, the larger the hit you take when the minimum wage rises.
Furthermore, if the minimum wage employees get a raise, you may have to raise the rest of your pay scale to match. Someone who has been with the company awhile and gotten a few earned raises isn't going to be happy that he's now "back down" with everybody else at minimum wage. You're going to have to bump him up too if you don't want him to leave.
"If anyone does not want to raise minimum wage, then why dont you work for 5.15 an hour and see how you like it."
I have never made minimum wage. I got loans and went to college. Now I write software for a living and make more than enough to support myself and pay off those loans. I wholeheartedly agree that I would not enjoy earning $5.15 an hour. I couldn't afford to pay my rent at that wage. That is why I chose to learn a lot in school and get higher paying employment. If I lost my job today, I would immediately start searching for a new high paying job and ignore the minimum wage retail jobs because I am well qualified to do a higher paying job. In fact, I would start my own business before working a minimum wage job because I am that much of an elitist bastard.
"Also, arguing the job is not worth more is stupid. For a crap job, you are not paid for the job you are paid for your time. There is no way that an hour of someones time is only worth $5.15."
For any job you are paid the lowest amount the business thinks it can get away with hiring someone at and still get the job done effectively. I don't deceive myself into thinking that my salary is some kind of reward for getting educated. It's the lowest amount they thought they could give me to get me to work for them. Any raise or bonus I get will be because they think I might leave if they don't pay me more.
Minimum wage jobs are the same, except they don't care who they get to do the job. They make the job as easy as possible to do so that you need no special skill to do it. They get flooded with applications when they open a position, and it really doesn't matter who they hire as long as they're friendly. That's why they can offer $5.15/hr and people still agree to work for that little.
Here's my main point: if nobody would sign up to work for $5.15/hr, businesses would be forced to offer more. - ViperDaimao, on 10/12/2007, -30/+35"A true economist would discuss the political and economic realities that created our lopsided economy that has engineered our $30 Trillion collective debt."
How do you connect CEO's earning tons of money to the national debt? Do you have any idea about the concept you're talking about? - cbasst, on 10/12/2007, -1/+6As the son of an owner of a chain of 12 convenience stores around Ohio, I am sad to say because of the recent minimum wage hike, my mother was forced to close 2 of her stores.
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