The only ones who wouldn't benefit are upper class.
Definitely helpful, but keep it at a minimum (Efficient social programs are a better way of dealing with poverty as opposed to raising the minimum wage.)
If kept at a reasonable amount, yes.
I wish their was a both option, because its not simply a "good" or "bad" idea. Raising it will have the benefit of getting some of the poorest groups as far above the poverty line as possible, but it also has the added effect of increasing prices and the cost of living. This could bring some of the middle class groups who already get paid more than $10 closer to the poverty line, not away from it. The upper class is relatively unaffected.
It will help more than it harms. Increasing minimum wage within reasonable boundaries will not significantly impact the costs of goods. Increasing or decreasing the minimum wage will not have significant impacts as far as reducing or increasing unemployment rate.
I think raising the minimum wage will help. Most of the people in jobs that are typically said to be where a teenager should work has adults working there. Many of them also trying to support a family. So how is an adult with a family supposed to pay bills, and then buy whatever luxuries they want with the little they have at $7.25 with like 30-40 hours a week. They can't. Most teenagers don't have to worry about bills, most of them are just trying to get some extra cash for the luxuries they want whenever they want them. I think if we can't raise minimum wage, it should at least be dependent on someones financial position.
The presence of an equilibrium wage determined by the market is a myth. Corporations are highly organized units and are well suited to collective bargaining while labor is disparate and disorganized and their adversarial relations with one another in the job market cripples their ability to collectively bargain effectively. Corporations are thus able to bargain for a wage lower than the actual value of the labor provided. This issue is further complicated by the fact that this wage paid will not be enough to meet basic needs, thus necessitating that taxpayers pick up the bill through welfare programs that corporations were unwilling to pay themselves. It is additionally helpful to the economy for the poorest members to receive more compensation for their labor. Those who earn the least have a high marginal propensity to consume every additional dollar earned, thus increasing total aggregate demand when their wages increase. The increase in the price of labor will cause prices to increase however the increase in demand caused by the wage increase will offset this price hike, creating a net positive for the economy.
If we removed minimum wage, we'd be forced to re-create the poverty line. We'd also be promoting the potential growth of free trade zones as well as an influx of immigration due to the possibility of work in a safer country. We would basically be outsourcing our own country.
A $101.10 minimum wage is a reasonable comprise. It brings the current minimum wage out of poverty by at least $2,000 for a single family. Now two people working at that level with one child could afford better education, food, health care and transportation if they are disciplined enough to budget accordingly. I am all for this as opposed to a $15.00 minimum wage. Oh, by the way , how is Seattle faring?
Most Adults work minimum wage already so increasing it would help everyone. Except maybe business owners who want extra profit
I believe that people can make choices for themselves. If two adults would like to consent to a trade of labor for money then they should be allowed to do so. This would also cause more unemployment due to a basic principle in economics, if the price of a good or service increases then the demand for it decreases.
Hey look, profitability's down. Let's reduce expenditures. Hey look, some employees who could have their jobs added to someone else's job description. PINK SLIP'D! It would increase the workload of the people who stay and decrease the total number of jobs.
For the same reason that there should not be a standard wage (i.e. every job pays exactly the same wage/salary) there should not be a minimum wage. Ideas like minimum wages and maximum wages are draconian, egalitarian, totalitarian, and ultimately, communist. By closing the gap between high wages and low wages, we close the possibility of competition and progress in the market.
We already have 10% unemployment and 19% underemployment rate in America. We are fighting to keep our jobs here and not in India and southeast Asia. Do you really think making companies pay more for workers will help that?
Simple econ 101 raise the price and demand goes down. That is why Europe has a permanent high unemployment rate. Want full employment the market must set the price. What % of min. wage workers are over 24 yrs old? Is this a temp job, part time a stepping stone job?
Raising the minimum wage will only hurt everyone by increasing the prices on goods and services making things more expensive for everyone including the minimum wage worker because even though they will get a raise in the the same products or services they buy will be more expensive. In other words, it will do no good except make life harder for consumers of the American economy.
yaa! sure daily wage will hurt because, if a man just depending on daily wage will not have an idea to earn more and he will also not develop in his carrier and he will face a great crysis
Hurt is a strong way to put it, but why are people so obsessed with punishing business owners. THERE IS NO JOB WITHOUT THE BUSINESS. Be thankful a business is performing well enough to offer jobs. And everyone forgets it is a contract between two parties. If the wage is too low, no one will take the job. But 9/10, someone WILL take the job because they want to work. Raising the minimum wage bars all these people from working who would be willing to take a job at $8/hr, but no longer can find a job because the minimum wage has removed that job from the market. The free market always succeeds in working this problem out. If you have a problem with minimum wage, then start your own damn business and pay people more. Don't orchestrate how someone else runs their business, or how they make deals with other private parties. The market decides their value. If the job doesn't offer reasonable pay, no one will take it and the company changes its polices or is forced to adapt.
Even with a minimum wage law in place, a worker is at risk of receiving $0 (unemployment). A minimum wage law guarantees nothing. In fact, all the law will do is make it illegal to work for low wages. When it's illegal to work for low wages, the low wage workers will be divided into two groups A) some of the more talented and fortunate low wage workers will get jobs at a higher wage and B) the less talented and less fortunate workers will be unemployed. Don't outlaw low wage work. The people it hurts the most are the poorest people, with the least marketable skills.
Hurts because this is just another way of the government to regulate a business. Minimum wage decreases the amount of jobs in a business and you should work for the value of a product, not for how much the government wants.
By increasing the minimum wage, the only thing that is accomplished is the express train to no more jobs; at the moment, it is cheaper to have workers at minimum wage than it is to automate, but as soon as you hike up the wage, companies will automate in a heartbeat. Do you know what that means? More of our tax dollars going to support those who could have been working but lost the chance to on account of their greed.