eliminate minimum wage and MAYBE 3 million immediately employed!

[healthmyths]

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???

 

[Inthemiddle]

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

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.

 

[Photonic]

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???

And all of a sudden, we would become the first unindustrialized nation on Earth! Yay!

 

[rightwinger]

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

 

[Photonic]

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

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.

 

[lovemymutts]

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

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

 

[Photonic]

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

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

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

 

[LibertyForAll]

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>

 

[lovemymutts]

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

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

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

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 .

 

[The Rabbi]

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

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.

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.

 

[rightwinger]

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

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

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 .

You can't even start to live the American Dream on minimum wage. For $2.10 an hour 35 years ago, I could pay my yearly college costs, I could buy a car, I could rent an apartment

You can't even get your foot in the door at minimum wage today

 

[The Rabbi]

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

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.

So you're saying that more people working will mean less earnings in this country? Really? Is that your final answer?
Companies aren't hiring because the cost to do so is high and there is tremendous uncertainty associated with those costs. Lowering the min wage will make some jobs profitable to employers that previously were not. When was the last time you saw a gas jockey or theater usher?

 

[The Rabbi]

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

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 .

You can't even start to live the American Dream on minimum wage. For $2.10 an hour 35 years ago, I could pay my yearly college costs, I could buy a car, I could rent an apartment

You can't even get your foot in the door at minimum wage today

The whole purpose of the min wage is to get your foot in the door. So to say you can't is simply wrong. Most people who work min wage don't do so for long. They acquire skills that make them more employable and command a higher wage. Or they fail out from that and join the OWS movement.

 

[LibertyForAll]

Companies do lower their prices but not out of the goodness of thier heart. They lower prices when demand shrinks. They will get as much as they can get away with just like they will pay as little as they can get away with. It's the law of supply and demand. Federally mandated increases in wages have the effect of an artificial increase in the demand for labor.

What happens when apple can't produce I-phones fast enough to meet the holiday rush? Prices of I-phones go up because the supply is low. So apple hires more people to build facilities and staff them and increase production and when they do the iphone prices drop because the supply has increased. Well if you increase everyones wages then prices will rise as companies compensate for the increase. The people who have jobs making more than minimum wage will not see an increase in wages and will see thier buying power shrink so it has the effect of decreasing the supply of all goods across the boards when in reality there is a glut on the market, or in other words inflation. This will cause mass layoffs as companies cannot produce goods at a price point that the majority of thier market can afford.

 

[The Rabbi]

So inflation causes layoffs?
You flunked Econ 101, right?

 

[Remodeling Maidiac]

I disagree. While unemployment may go down poverty would rise. The minimum wage is not even enough to survive off of as it is. I would not advocate raising it but to eliminate it would cause a lot more division between the haves and have nots.

 

[The Rabbi]

I disagree. While unemployment may go down poverty would rise. The minimum wage is not even enough to survive off of as it is. I would not advocate raising it but to eliminate it would cause a lot more division between the haves and have nots.

Because everyone benefits when fewer people work, right? Or do you think people currently employed will rush out to take lower paying jobs than what they have right now?

 

[Photonic]

I disagree. While unemployment may go down poverty would rise. The minimum wage is not even enough to survive off of as it is. I would not advocate raising it but to eliminate it would cause a lot more division between the haves and have nots.

Because everyone benefits when fewer people work, right? Or do you think people currently employed will rush out to take lower paying jobs than what they have right now?

Because everyone benefits when people are payed less, right?

 

[The Rabbi]

I disagree. While unemployment may go down poverty would rise. The minimum wage is not even enough to survive off of as it is. I would not advocate raising it but to eliminate it would cause a lot more division between the haves and have nots.

Because everyone benefits when fewer people work, right? Or do you think people currently employed will rush out to take lower paying jobs than what they have right now?

Because everyone benefits when people are payed less, right?

Who's going to get paid less, genius?
We have a black teenage unemployment rate of 20%. What are they getting paid now?

 

[Mr Natural]

Eliminate minimum wage, eliminate unions, outsource as many jobs as possible, and make sure American workers make as little as possible and somehow we'll all be a lot better off.

"Prosperity Through lower Wages!"