The Illusions of The Minimum Wage

Discussion in 'Economy' started by Bonnie, Mar 7, 2005.

  1. Bonnie
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    Bonnie Senior Member

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    March 6, 2005
    The Illusions of the Minimum Wage
    By Steve Chapman

    Asking Democrats if they favor an increase in the minimum wage is like asking Martha Stewart if she'd mind sharing some decorating ideas. There are few things they'd rather do, and Ted Kennedy thinks it is high time.

    The Massachusetts Democrat is offering a measure that would boost the wage floor from $5.15 to $7.25 an hour over the next two years. He noted that it has not been lifted in eight years, during which time senators have gotten seven pay raises. "If the Senate is serious about an anti-poverty agenda," he said, "let's start by raising the minimum wage." Republicans, meanwhile, might accept an increase of $1.10, as proposed by Sen. Rick Santorum of Pennsylvania.

    It may seem like an inescapable truth that if you increase the amount employers pay their lowest-wage workers, you will have fewer poor people. Money, after all, is what they lack, and a higher minimum wage means more money to those in the worst-paying jobs.

    more.........http://www.realclearpolitics.com/Commentary/com-3_6_05_SC.html
     
  2. SmarterThanYou
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    people just don't get it. :bang3:
     
  3. Bonnie
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    Bonnie Senior Member

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    I suppose because it's just one of those issues that never gets scrutiny beyond the knee jerk reaction it illicits.
     
  4. SmarterThanYou
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    if BOTH parties would stop screwing up a good free market, this wouldn't even need to be thought of.
     
  5. cptpwichita
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    cptpwichita Member

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    agreed! :beer:
     
  6. Huckleburry
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    That artice is really deciving. It does not take into account changes in the global market place. Nor does it consider the industries of PA and NJ or whose economy was more supceptible to outsourcing. Nor does it take into account diffences in state fiscal policy that could have drastic effects on local low wage earners. Essentially it assumed the two economies to be exactly the same (which they are not) and then compared them in a manner that would yield the desired results. Now THAT'S scholarship. :mm:
     
  7. cptpwichita
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    cptpwichita Member

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    Why not make u.s. companies more competitive in the international marketplace by reforming the tax code.why not make u.s. companies more competitive by removing the minimum wage.why not make companies more competitive by de-regulation.why not reduce the tax rate by controlling spending.why not increase the education levels here at home by privatization and vouchers.why not remove restrictions to trade overseas and develop new markets for american products.
     
  8. Huckleburry
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    We are one of the most open economies on the planet. Regulations exist to make sure that we do not have ten Enrons and constant bank closings. I agree with the Voucher system. whether the minum wage decreases or increases employment has yet to be determined. The tax code is in need of reform but it would most likely mean more not less for US companies. I agree on the school voucher and privitization though.
    I am all for the free market economy. But it does not always work. A quick jaunt down economic memory lane will reveal some very painfull times that were a direct result of too much faith in the market. I am captalist through and through. However Capatalism is only the vehicle it needs a captain to stay on course.
    HUCK
     
  9. rtwngAvngr
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    you are not for free markets. You are a new world order price fixing style economist. That's why you refuse to admit how individual business men bring more efficiency and value to society through competition with each other. Quit lying. Tell us again about your land redistribution schemes for south america. Do you think this cockeyed solution displays a love of free markets?

    And I think there should be a minimum wage, but it need not be enough to have a house, car, family of four. The LIVABLE wage concept.
     
  10. Bonnie
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    Bonnie Senior Member

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    rtwngAvngr
    Well why not! If we are going to keep raising minimum wage why not just give everyone working at Burger King enough to have a house, car, maybe even a nice boat or jacuzzi............Sarcasm

    Minimum wage is a starting salary for those just getting into the workplace. Everyone pays their dues, works their way up the ladder. Yes there probably should be a minimum wage but it should be commensurate with what a free market allows.

    You run the risk of putting smaller businesses out of business, and that =less jobs.
     

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