Does raising the minimum wage reduce poverty?

[Maxdeath]

I disagree. Having one at all says it's okay for the government to mitigate a person's ability to negotiate with their labor in the market. Having one at all also highly increases the odds of it being raised and limiting the market more.

The reason it is there is to try and limit employers from going too low. Problem with the whole raising it is you have misguided individuals that do not understand basic economics that think raising it has no consequences but will raise everyone out of what they see as poverty.

 

[Lakhota]

If the answer is no, and I'm pretty sure it is, then why have a minimum wage at all? If you raise the minimum wage to $15 all you're doing is ensuring that any job worth less than that won't exist legally, and that means unskilled people will have less job opportunities and less possibilities for expanding their value in the market. Grown people should not be inhibited by the government when it comes to their ability to negotiate their own labor. It's immoral, patronizing and it doesn't actually achieve its intended effect. It does ensure less jobs and less business opportunities though.

The minimum wage is well-intentioned, and our economy can survive despite it, but all it really does is limit the people that are worth the least. The impact a $15/hr minimum wage would have on the job market, particularly in more rural states, is no doubt massive. I consider myself left wing. I support a lot of left wing ideas. This is not one of them though. There shouldn't be a minimum wage. It's not actually helping poor people. I think it's bad for everybody.

Anyone who thinks like you should go on minimum wage for a year before they answer your question.

 

[DudleySmith]

Raising minimum wage is just going to raise the cost of living. It’s not going to fix anything.

My $0.02.

It rises anyway; wages are a very minor part of costs. When Reagan busted the meat packers' union strikes in the 1980's for instance, wholesale prices actually rose steeply from a declining trend after the union labor was replaced by wetbacks and Vietnamese at around one third the previous wages and bennies. That's because Reagan admin also looked away when the packers colluded to raise prices, as he did for every other cartel.

 

[DudleySmith]

I would support the minimum wage if not for the dozens of social programs we have. But if we are to be honest here, nobody is going to work for little money when they do better just going on the dole, so MW is completely useless yet alone raising it higher.

lol we have those 'social programs' because wages are so low in the first place, plus outsourcing the high productivity manufacturing and chip industries leaves a lot of service industry crap jobs as substitutes. Can't have it both ways, just because some article over at Mises says so.

 

[DudleySmith]

The reason it is there is to try and limit employers from going too low. Problem with the whole raising it is you have misguided individuals that do not understand basic economics that think raising it has no consequences but will raise everyone out of what they see as poverty.

Does basic economics have anything to say about trying to run a First World country on Third World labor prices and infrastructure?

The reason the 'middle class' is disappearing is because they're next in line to be looted after screwing the bottom of the food chain until it has nothing left to loot. The 'middle class' is next in line, because that is where the money is now for the top 1% to get that 100% return a year they feel entitled to.

 

[Anomalism]

You think there will be jobs that just don't get done? That's just goofy.

If you make the minimum wage $15-20 an hour and a small business owner goes out of business or can't afford to have as much staff then yes less jobs will get done. Obviously more people will be employed if you don't make it illegal to hire people for less than amounts specified by the government. A $15-20 dollar minimum wage would be absolutely outrageous for a lot of business owners, particularly in rural areas. Do you know 44% of economic activity is small businesses?

 

[Anomalism]

Does Warren Buffet making another billion in dividends reduce poverty? not in the least.

Honestly I wouldn't care if we taxed the shit out of billionaires. You should understand that you're going to need to tax the shit out of more than just Jeff Bezos and his buddies to create all of the social safety nets left wingers want though.

Also the minimum wage isn't actually helping low value people find employment or become more valuable.

 

[Anomalism]

If you don't like minimum wage then work for less than and see if that gets you out of poverty.

You're missing the point

 

[Anomalism]

Baloney. One can attempt to negotiate their wages regardless.

If you raise the minimum wage to $15 an hour one can no longer legally negotiate their labor for less than that in order to gain a job and the opportunity to gain work experience. What if that opportunity doesn't exist for that wage specified by the government?

 

[BULLDOG]

If you make the minimum wage $15-20 an hour and a small business owner goes out of business or can't afford to have as much staff then yes less jobs will not get done. Obviously more people will be employed if you don't make it illegal to hire people for less than amounts specified by the government. A $15-20 dollar minimum wage would be absolutely outrageous for a lot of business owners, particularly in rural areas. Do you know 44% of economic activity is small businesses?

So which jobs will not get done? Will dishes not get washed? Will floors go unswept? Will trash not be put into a can? Will it not be hauled off?

 

[Anomalism]

So which jobs will not get done? Will dishes not get washed? Will floors go unswept? Will trash not be put into a can? Will it not be hauled off?

Things would eventually find equilibrium through inflation but not before you screw up the economy. It would definitely do harm and put people out of business. Suggesting a $15 an hour minimum wage across the board is ridiculous.

 

[BULLDOG]

Things would eventually find equilibrium through inflation but not before you screw up the economy. It would definitely do harm and put people out of business. Suggesting a $15 an hour minimum wage across the board is ridiculous.

Thank you for sharing your opinion. I'm sure dozens of people agree with you, and it will get all the consideration it deserves.

 

[Anomalism]

Thank you for sharing your opinion. I'm sure dozens of people agree with you, and it will get all the consideration it deserves.

It doesn't really make a difference to me in the end. I just think you're not going to achieve want you want by forcing up the minimum wage. I'm aware that most of you are retarded, so I take pride in being in the minority.

 

[Ray From Cleveland]

Does basic economics have anything to say about trying to run a First World country on Third World labor prices and infrastructure?

The reason the 'middle class' is disappearing is because they're next in line to be looted after screwing the bottom of the food chain until it has nothing left to loot. The 'middle class' is next in line, because that is where the money is now for the top 1% to get that 100% return a year they feel entitled to.

Nobody is being wiped out of anything. Americans have a choice of being poor, middle-class or anything above. Drugs have taken a hold of our country like no time in history, and people who work lower income jobs can't elevate themselves to middle-class unless they give up the dope because most better paying jobs have a random drug screening program.

 

[Ray From Cleveland]

lol we have those 'social programs' because wages are so low in the first place, plus outsourcing the high productivity manufacturing and chip industries leaves a lot of service industry crap jobs as substitutes. Can't have it both ways, just because some article over at Mises says so.

Bullshit. Plenty of good jobs around, but try to find Americans to work them.

Take my former career for instance. They are looking for tens of thousands of drivers industry can't find. It takes a few months to learn how to drive a tractor-trailer and get licensed, but once you do, you have a career for life. You can tour the United States while getting paid, stay closer to home with regional jobs where you are home more often, or after you get a year or two experience, able to work with a major carrier like FedEx or UPS for around $28.00 an hour plus OT and great benefits and be home every night. Can't find people to do these jobs.

My father is a retired bricklayer. His union still sends retirees updates on the trade. They are offering all their retirees $500.00 if they can find young people willing to join the career. Granted, bricklaying is very hard work, but you can also make a great living at it. Here it pays around $52.00 an hour plus OT. My father retired at the age of 62. He's 90 now and still receiving his pension, and if something happens to him, my mother will continue receiving that pension until she passes away.

Nobody can convince me the reason people are not advancing themselves is because there are "no good" jobs around. Hell, even the post office can't find enough carriers, and getting a UPS job has never been easier, both decent paying jobs.

None of these jobs will come knocking at your door. You have to take the initiative to get them. You have to quit the dope and start taking life and your future seriously.

 

[Ray From Cleveland]

Anyone who thinks like you should go on minimum wage for a year before they answer your question.

Nobody is forced to work minimum wage. It's a choice.

 

[ClaireH]

If you make the minimum wage $15-20 an hour and a small business owner goes out of business or can't afford to have as much staff then yes less jobs will get done. Obviously more people will be employed if you don't make it illegal to hire people for less than amounts specified by the government. A $15-20 dollar minimum wage would be absolutely outrageous for a lot of business owners, particularly in rural areas. Do you know 44% of economic activity is small businesses?

The current minimum wage, as far as any type of federal fixing, should be around $9.07. Last time minimum wage was raised in 2009, and comparing what a dollar would by then and what it buys now, it would cost about $1.25 now for what a dollar bought then. In addition, we’ve had about a 12% increase with poultry, beef, eggs, and er…some other category ha. It’s slacking to have it at $7.25 in 2021- almost 13 years now since it’s been raised. People on fixed incomes just had an cost of living adjustment to the tune of around 6% I think, or around that. So all things considered what’s the hold up?

If the federal government wants to pretend they can control things in a positive way, they are yet again failing. States should determine their own minimum wages, as most do. Several posters have alluded to the fact that prices/wages/cost of living in California are certainly not the same as they are in Alabama.

What is the Everyday Price Index?

The purpose of the AIER’s Everyday Price Index (EPI) is to measure changes in the prices of goods and services that are important to people’s everyday lives. The index reflects the price uncertainty (i.e. unexpected and unavoidable price changes) that people face with purchases they cannot...

www.aier.org

 

[Maxdeath]

Does basic economics have anything to say about trying to run a First World country on Third World labor prices and infrastructure?

The reason the 'middle class' is disappearing is because they're next in line to be looted after screwing the bottom of the food chain until it has nothing left to loot. The 'middle class' is next in line, because that is where the money is now for the top 1% to get that 100% return a year they feel entitled to.

I realize that you do not understand basic economics but you have bought into the crazy economics. There are those that use those type of things in the hope that it makes them appear smart.

 

[Anomalism]

limit employers from going too low.

Should what's too low really be the governments decision?

 

[Grumblenuts]

If you raise the minimum wage to $15 an hour one can no longer legally negotiate their labor for less than that in order to gain a job and the opportunity to gain work experience. What if that opportunity doesn't exist for that wage specified by the government?

Wait, before moving your own goalposts from simply "raising" the existing MW of $7.25 / hr to $15 / hr or $15 - $20 / hr.. Before pretending no cash economy exists or that what there is can somehow just be ignored as insignificant.. Before continuing to reduce people to widgets whose apparent worth to you is only their job, income, or working "opportunity".. Before injecting ever more but whattaboutthis and whattaboutthat..

You titled this "Does raising the Minimum Wage reduce poverty?".. Well, does it, punk? If you're so cock sure that doesn't at least provide some compelling statistical evidence to support your claim.

Does increasing the minimum wage reduce poverty in developing countries?

Whether raising minimum wages reduces—or increases—poverty depends on the characteristics of the labor market

wol.iza.org