Sure, white men have privileges. However, even a heterosexual white single dad with his PhD in engineering can't support his five kids unless he has a good paying job. Therefore, to ensure everyone in his situation can provide for their children everyone needs to be paid a minimum amount of money that allows them to support their children.
Now, the cost of living is higher in New York than in Fargo. Therefore, the federal minimum wage should allow this single dad in New York to support his kids so that no adult is left behind.
Let's say there is no minimum wage and we are able to pay people the $4-5/hour as suggested in the opposing column. Someone works 8 hours a day 5 days a week they will make $640-800/month (before taxes). The Average one bedroom apartment rental in my city is $750/month. That does not include food or utilities.
Now let's pretend I have one child who needs daycare so I can work. Lowest priced daycare I could find would be $620/month.
When I do the math I'm really confused about how 'theoretically' having no minimum wage will work?
Without minimum wage requirements, employers could take advantage of desperate people in urgent need of a job, and pay them a next to nothing salary. They are allowed to do this because the person has no where else to turn to, and the employer wants to make as much profit as possible
Minimum wage would assist in circulating the money around. It will stop employers from taking advantage of their employees. If there was no minimum wage there would be more poverty because more people would get under paid. Having no minimum wage is absolutely ridiculous! We have minimum wage now and we are doing fine! If we did not have a minimum wage there would be much more poverty than there is now.
If people get paid more, they have more money to spend, helping other businesses who in turn can pay their workers more or higher new employees. This would either circulate the money around, or lower the unemployment rate, both are good. If there was no minimum, it would create a bigger wealth gap, the rich keeping the money, and the poor not getting paid.
Yes, there should be a minimum wage, but it should be increased. The cost of living is steadily increasing, and minimum wages don't support a family. It takes multiple incomes, at those low wages, to take care of basic needs. The cost of everything goes up, yet it takes years for there to be an increase for fair wages. Although low, it does protect employees from getting paid even less.
If there isn't a minimum wage, what do you expect people to live off of? If there isn't one people wont work as hard for the low pay that they make. Out of 100 people, only 10 are employers. The majority are middle class and poor, and the government needs to support these people because if not, America would be even worse than it already is.
More tax revenue. Lower government wage subsidies, which equates to more self worth and self reliance. More hope, less stress, more consumers which will eventually lead to more jobs. Could also lead to a healthier population since more people will have money to purchase healthier foods. And besides, I like Bacon!
Minimum wage is a way to make sure that the pay rates are just at entry level jobs. This way there cannot be discrimination and everyone has the ability to take care of themselves independently. It is the best way to ensure equality in the work place for young or unqualified workers.
There should be a minimum wage in order to force employers to provide a living wage for under educated-adults and the working poor. A minimum wage would at least ensure that people who lack a college education or vocational training will have the ability to take care of themselves and their families as well as contribute to the economy.
Because of minimum wage there is a 46% unemployment rate among African American young adults looking for jobs in the inter city. If minimum wage is removed it would be worth it to hire unskilled workers so they could gain experience working and use that experience to gain a better job.
There should not be minimum wage because it interferes with the free market doing it's thing. If there was no minimum wage then manufacturing jobs from East Asians countries (China) would come back to the US, because large corporations could have their product in the US and save in shipping, import/export tax, and trade tax costs. People would make less money, but in turn the price of products would also go down as people have to buy the products to keep the company in business. If there was no minimum wage there would be competition which is the driving force behind the US economy.
Think of labor as a good. Businesses buy labor in order to run effectively, just as they buy machines, desks, chairs, etc. A minimum wage says to businesses: "you can only buy labor that is worth this much or more." As a result, workers that are worth less than the minimum wage (let's say $8/hr) are forced to be unemployed. Without a minimum wage, a worker who may be worth, say, $4/hr would have the opportunity to work for an employer who is willing to pay that much for a certain job. Maybe instead of making someone who makes $10/hr file papers or make copies, the business owner can hire the person who is worth $4/hr, allowing the $10/hr person to accomplish other, more significant tasks. The person making $4/hr obviously doesn't have a great quality of life, but at least has a job and can learn skills and make themselves more valuable in the labor market. Maybe after a few months this person learns how to accomplish a higher task and gets a raise, then learns more tasks and so on.
The majority of people arguing that there should be a minimum wage, or even for increasing it, don't actually realize the implications of doing so. If the minimum wage is raised from $5.00 to $10.00, the people making $5.00 don't get paid more, they lose their job, because they are only worth $5.00 per hour. Even in a perfect world, if no jobs were lost after increasing the minimum wage, the only thing accomplished is a shift in the economy. Again if the minimum wage is increased to $10.00, and everyone makes more money, then the purchasing power of that $10.00 drops to balance everything out, and nothing is gained. No one benefits from a minimum wage.
I realize there are good reasons for having a minimum wage, but it has become acceptable for companies to just hire people at minimum wage when they could afford to pay more if they would accept a lower profit margin. Minimum wage pretty much keeps workers at a barely subsistence level of income and somehow that right to be kept at that level is treated as a good thing for the workers. It's not; it's really a good thing for the employers.
Someone who works at McDonalds and gets minimum wage can most likely support himself, but it's just about impossible to feed more that two people off of that. So the minimum wage only really works for a single person, but it can't support a family. Therefore it excludes people trying to support a family.
I think that if it's the lowest wage than we don't need it. I also don't think it helps anyone. It is just a little extra money.
If you have anything to say, make sure you say it in the like or not like box. This is my opinion. Ok
Does anyone remember how much a new corvette cost in like 1967? Probably about 4 grand. Somehow 4 grand 50 years ago bought the same thing that 50 grand plus buys now. It's called inflation. A better example would be something unchanged in that amount of time like milk or eggs. You get the same thing now it just costs 10x more. If you mandate a minimum wage then it drives up the cost of production of any good or service because no business with any sense will choose losing their profit margin over raising their price to compensate. So now that higher minimum wage put into that entry level workers pocket can't buy as much. Now think about rentals. If one apartment price goes up all the comparable apartments go up. And they will go up because the minimum a full time employee can be paid went up by law. I also see this argument a lot and have experienced it myself. Imagine an employee gets an annual raise based on performance and experience in their job. They were hired at the current minimum wage because they had no prior experience. After a year they get 40 cents more an hour but the minimum goes up to match that or more. I live in Washington state and this has been the case for as long as I've been employable. Anyway a few years go by and a new entry level employee is hired at the up to date minimum wage which is equal to the employee with a few years of experience. They get paid the same despite the fact that one of them has put years in learning the job and becoming an asset to the comany. Bottom line raising minimum wages just makes more unemployment until the cost of living rises higher still to totally negate any changes in wages at the bottom. And then what about skilled laborers who made more than minimum? They would also have to be paid more to reflect the increased value over unskilled workers. I would say if the effects of changing the minimum wage ran their course instantly then none of this matters. But because market shifts and the economy take time to move then the lower middle and upper classes all suffer though unequally until everything rebalances and nothing ultimately changes other than the dollar buys less
Having a minimum wage makes buying machines to produce labor cheaper than hiring workers. Proponents argue that businesses would do better because of workers spending more with their higher salaries, but they overlook the fact that the minimum wage distorts demand for labor and incentivizes businesses to use machines instead (like McDonald's is doing.) Raising the mandatory cost of labor would make as much sense as raising the mandatory price for tomatoes; it would just distort demand.
Minimum wage is the biggest driver of inflation in this country. If there was no minimum wage, everything would be cheaper, and the money you earn would be worth more. Price floors and price ceilings ALWAYS cause unintended consequences. If you have a truly free market, you can get a different job if you are unhappy with your current one, since competition improves the possibilities. Starting out at low pay, you shouldn't stay at that rate for long. The biggest benefit of your low pay job should be getting experience and learning to work, but a minimum wage makes it harder for that to happen. Now they won't hire you at all, and if you do get hired, you'll be stuck at the bottom longer, and competition won't be as good meaning you'll be stuck at that job if your not happy.