Having a minimum wage is crucial to our country. In many states, the minimum wage is barely enough to keep someone above the poverty level. It would be very difficult to support yourself on less than minimum wage. It would be impossible to support a family on less than minimum wage.
I think that America does need a minimum wage in place. If not, people will be taken advantage of by businesses. Having a set minimum of what every working person should be paid is a good thing. It ensures that everything is fair. If corporations or people do not like it, they can get paid under the table.
The United States needs a minimum wage in order to keep pay rates fair. If there was no minimum wage people would be taken advantage of. Because there are so few jobs these days it is possible that some people would work for almost nothing, as they did before there was a minimum wage. The minimum wage is also useful because it lets everyone know what the general cost of living is in the country.
Our nation is the richest nation in the world, and there is no reason that our country cannot afford a minimum wage for our lower class. Our country was founded upon the idea of the "American Dream," where anyone, no matter how poor, can work hard enough to become financially successful. A minimum wage absolutely helps the poor be able to achieve this.
The minimum wage law is the single most regressive and destructive law to the poor in our country. Where I currently reside (In Texas) our minimum wage is $7.25/hr, what this equates to is an individual who seeks employment must be able to provide, at minimum, $7.25 worth of productivity an hour.
Ignoring the fact that this essentially deprives the individual from being able to choose how much their time is worth by their own accord, it makes it extremely difficult for low skill, low experience, low education fledglings to get their foot in the door and gain those traits in order to get a higher wage in the future.
With the near-monopolization of government over our educational system, and the lowering of the general quality of education as a result of said monopolization, entry level workers are not valued at being worth said amount. This directly causes unemployment.
In a world with no minimum wage, these people, who may be valued at $5 an hour, $6 an hour, can get a job, earn experience and eventually receive a more livable wage.
To the naysayers that claim that without a minimum wage no one would make more than peanuts as a wage, you're simply wrong. Any such a business that would pay such meager wages would go under, and inevitably fail. Would you work for pennies an hour in a world where bread costs $2.50 a loaf? Most likely not, but if you would, good for you! You'd have that freedom! Addressing the people that said no, you're part of the vast majority. And if a certain company was only going to offer you $0.15 an hour, we'll say a fast food chain for simplicity's sake, another fast food chain, of the same line of product, would come along and offer $0.30 an hour, and another would come along and offer $1.00, and so on and so forth. What this means is that all of those companies offering the bottom of the barrel wages would fail, due to not being able to sustain employment enough to produce their good. If such an assertion as "No one would get paid more than barely enough to scrape by" were true, no one currently would make more than minimum wage, simple fact.
Another detriment of the minimum wage is that it drives costs up 100% of the time where it occurs. Think about it, if a company has to spend 25% more than what their product is worth just to employ someone to produce it, what are they going to do? They're not going to take a hit on it, they're going to raise their cost! But now, the people left unemployed by the minimum wage law, since they aren't worth that much in what they can produce, can't afford that 25% increase. More over, the people that are employed at the minimum wage, are now being taxed at a higher wage rate, that doesn't adjust for the increased cost of the product.
The minimum wage was placed with good intentions, however it does nothing to benefit society. For example just look at unemployment, while I will concede that studies have shown that overall unemployment is virtually unaffected, that specific statistic is misleading as best. Mainly because there are different groups that make up the work force, the group most notably affected by the minimum wage and it's many increases are teen employees who are new to the workforce and who's hiring would be a risk to businesses. Studies have proven that teen unemployment has shown consistent increases with every corresponding increase in the minimum wage plus if we were to go off of correlation alone, increases in the minimum wage have almost always been followed by some sort of recession or economic downturn.
No minimum wage would free businesses to hire more employees. It would drastically lower the cost of production and therefore all prices. These combined increases cash flow and opens the job market drastically. Employees who dislike how they are treated can LEAVE and find better jobs. Especially due to skyrocketing job market. REMEMBER that businesses only exist because employees show up at work every morning. Bad bushiness environments will naturally lose all of their employees and be forced to change.
People in special circumstance will be easier to support and/or put back on their feet due to lower prices and more available work.
Less jobs would be outsourced or mechanized. Putting work and cash flow BACK into people's hands and our own economy here at home.
Lower paying jobs would become an entry point for the young and people with low experience, allowing them to earn money and gain experience rather than do nothing while businesses cant afford to .
Minimum wage teaches people that they can slack off and work the least possible and someone will always make up the difference and make sure they don't have to pay for it. While hard workers have all their hard work come to NOTHING, because it is being taken to pay for some lazy sloth's life.
Whereas no minimum wage teaches the value of hard work, shows people that harder work can produce more money, and streamlines business efficiency.
Minimum wage is a blight upon our economy and our businesses, the ONLY thing you people's money comes from. Government money is merely a hardworking-man's pay check stolen and given to those who did not earn it
There are many workers who are not worth the minimum wage, so what happens to them? They get unemployed. How was it when we had true free market many many decades ago, Americans had the highest wages in comparison to other countries, yet we produced the cheapest stuff. Minimum Wage increase unemployment and has no benefit. Look what happened to American Samoa when they started having minimum wage, it crushed their economy.