eliminate minimum wage and MAYBE 3 million immediately employed!

Discussion in 'Politics' started by healthmyths, Nov 17, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    So which is better..
    Having maybe 3 million or more employed people paying Medicare/SS or
    3 million people receiving $250/week in unemployment benefits?

    By eliminating minimum wage
    In 2010 Among those paid by the hour, 1.8 million earned exactly the prevailing Federal minimum wage of $7.25 per hour. About 2.5 million had wages below the minimum.2 Together, these 4.4 million workers with wages at or below the Federal minimum made up 6.0 percent of all hourly-paid workers.

    Minimum wage workers tend to be young. Although workers under age 25 represented only about one-fifth of hourly-paid workers, they made up about half of those paid the Federal minimum wage or less. Among employed teenagers paid by the hour, about 25 percent earned the minimum wage or less, compared with about 4 percent of workers age 25 and over. (See table 1 and table 7.)

    Now there are 27.1 million teenagers from 15 to 19 that are unemployed!

    Easily 3 million or more jobs would be open if the minimum wage was competitively based.. i.e would you work for $1/hour.. $3/hour???
    Let the market set the wages...

    All of a sudden businesses especially minimum wages could lower THEIR prices and economy begins to grow and those out of work.. paying in!

    Which is better then paying OUT or 3 million more paying in???
     
  2. Inthemiddle
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    Inthemiddle BANNED

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    :lol: :lol: :lol: :lol: :lol: :lol: :lol:

    You think businesses will lower their prices? Why would they do that? The consumers have already shown a willingness to pay the higher prices, they aren't going to suddenly settle for less. And you also seem to think that businesses will create new jobs just because they are saving more money. That's also idiocy. Business will create jobs when, and ONLY when, the demand for their product approaches a point where it would exceed their current production ability.
     
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  3. Photonic
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    Photonic Ad astra!

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    And all of a sudden, we would become the first unindustrialized nation on Earth! Yay!
     
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  4. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Total nonsense...

    If there was money to be made off of hiring new people, they would. What are you going to sell? Who is going to buy it?

    We get this same thread every time they raise the minimum wage....."We are going to have to lay off poor working teenagers". It never happens

    I used to make $2.10 an hour minimum wage and I could buy a heck of a lot more than someone making $7.25 today
     
  5. Photonic
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    Photonic Ad astra!

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    The companies are making record profits, more than enough to hire people at ANY wage required by law. They don't do so because the demand simply isn't there to increase productivity.

    Lowering the minimum wage will only serve to decrease that demand.
     
  6. lovemymutts
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    lovemymutts Member

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    A person being paid minumum wage grosses a little over $15,000.00 a year approx. $11,500.00 after taxes.So please by all means explain how in the hell someone making this will be able to do not:confusedhing other than barely survive,Oh BTW poverty level begins at 16,000.00:confused:
     
  7. Photonic
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    Photonic Ad astra!

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    Well, people at minimum wage are actually making less per capita than they were 35 years ago...so...
     
  8. LibertyForAll
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    LibertyForAll Senior Member

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    Raising minimum wage won't work because it drives prices up and will force many small business owners out of business which only benefits the huge corporations anyway. It also increases the gulf between the rich and poor because the middle class wages will not go up but their dollar will buy less and they will have a harder time making ends meet effectively driving everyone down to the same level except the rich who won't be affected by (to them) minor fluctuations in inflation. Lowering minimum wage won't work either because the demand for labor isn't there. It will just cause employers to lay off their current employees and hire people in at lower wages.

    The real answer is to create a labor shortage by taxing imports. This will increase demand for locally manufactured items which will create jobs as well as offer tax incentives for job creation to get the corporations to stop sitting on the trillions in capitol they have. The net result will be an increased demand for labor which will drive wages up. As more people go back to work demands on the service industries will increase as well and more and more people will get back to work.

    In short the real answer to our problems is ....CREATE JOBS>
     
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  9. lovemymutts
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    lovemymutts Member

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    You are exactly right! Some just get the difference of yesterday(bygone years) and today.Guess they think that one making MW can live the American Dream.They are delusional .
     
  10. The Rabbi
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    The Rabbi Diamond Member

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    So companies never lower their prices? Is that what you are saying?
    Apple Tweaks ‘Nano’ and ‘Touch’ iPods, Lowers Starting Prices | Techland | TIME.com

    What a fucking 'tard.
     

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