should minimum wage be mandated?

Discussion in 'Politics' started by blu, Oct 11, 2009.

  1. blu
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    blu Senior Member

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    should the minimum wage be mandated by the government? One side says yes to protect from abusive companies that would pay people 15 cents an hour, and people who had no choice would get trapped. The other side says no since its the government interfering with private business.

    Personally I don't trust large corporations at all (kind of like in my monopolies thread) and I know that dipshit ceos would pay people a dime an hour just so they could make a few million more a year and that many people would be unable to find another job or get out of the situation and be forced to take crap pay. The obvious sign of this is jobs sent overseas to where companies can do that.
     
  2. The Rabbi
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    The Rabbi Diamond Member

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    If you pay peanuts you hire monkeys.
    If companies paid substandard wages, they would get substandard people, and their profits would suck.
    The min wage has destroyed large segments of entry level jobs in this country. When gov't sets a floor on anything they increase demand and decrease supply. It is basic econ 101.
     
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  3. blu
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    blu Senior Member

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    your first sentence isn't true. many companies are getting products that are just fine running sweatshops in foreign countries. all those people are doing is assembling basic things, packaging, etc. doesn't take any skill for that.

    what entry levels jobs were killed by $8 an hour or whatever it is now? any "skilled" position would certainly start higher than that anyway.
     
  4. Mike Mitrosky
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    Mike Mitrosky Member

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    Minimum wage ultimately hurts the worker, just like student loans hurt the student.
     
  5. Oscar Wao
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    Oscar Wao Victory is Mine

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    Why not just pay workers what they're worth?
     
  6. blu
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    blu Senior Member

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    because you know that many companies wouldn't do that. they would pay them 1 cent a day if they could
     
  7. Dis
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    What if their efforts are only worth 1 cent a day? And who determines what they're worth, and how?

    I think people who flip burgers at McDonalds have no business starting out at $8 an hour, but they do...
     
  8. KittenKoder
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    KittenKoder Senior Member

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    Those companies would go out of business very quickly because of a lack of employees.
     
  9. KittenKoder
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    KittenKoder Senior Member

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    All the minimum wage mandates do is increase the speed of inflation, who do you think really pays for those wage increases?
     
  10. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Higher minimum wage leads to higher unemployment. Let the market decide how much a job is worth.
     

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