The purpose of our federal minimum wage rate

Supposn

Gold Member
Jul 26, 2009
2,693
341
130
The federal minimum wage rate's purpose:
The federal minimum wage rate (to the extent of the rate's purchasing power), net reduces incidents and extents of poverty. It prevents states having lesser regard for their wage-dependent families, from undermining the labor markets of other U.S. states. If there were no federal minimum rate, other states would find it less feasible to enforce and sustain their own state's minimum wage rates.

The federal minimum wage rate has never been among the primary drivers of U.S. dollar’s inflation which occurs regardless if the minimum rate is or is not increased. The minimum wage rate has been more a victim rather than a cause of our dollars' reduced purchasing power. Respectfully, Supposn
 
The federal minimum wage rate's purpose:
The federal minimum wage rate (to the extent of the rate's purchasing power), net reduces incidents and extents of poverty. It prevents states having lesser regard for their wage-dependent families, from undermining the labor markets of other U.S. states. If there were no federal minimum rate, other states would find it less feasible to enforce and sustain their own state's minimum wage rates.

The federal minimum wage rate has never been among the primary drivers of U.S. dollar’s inflation which occurs regardless if the minimum rate is or is not increased. The minimum wage rate has been more a victim rather than a cause of our dollars' reduced purchasing power. Respectfully, Supposn

It's a stupid idea.
Does more harm than good.
 
It's a stupid idea.
Does more harm than good.
Toddsterpatiot, minimum wage rates to the extent of their purchasing powers and enforcement, reduce incidences and extents of poverty among wage earners and their dependents.
Respectfully, Supposn
 
Toddsterpatiot, minimum wage rates to the extent of their purchasing powers and enforcement, reduce incidences and extents of poverty among wage earners and their dependents.
Respectfully, Supposn

It doesn't harm anyone if it's below market rates.
If it's above market rates, it hurts poor, unskilled minorities the most.
If it's at market rates, what good does it do?
 
Imagine if nobody, not one person, applied for a minimum wage job. It'd be a huge win all the way around.
 
Over time fewer and fewer workers make the federal minimum wage, due to both market influences and state regulations.

It has become increasingly irrelevant as a hedge against poverty.
 
The federal minimum wage rate's purpose:
The federal minimum wage rate (to the extent of the rate's purchasing power), net reduces incidents and extents of poverty. It prevents states having lesser regard for their wage-dependent families, from undermining the labor markets of other U.S. states. If there were no federal minimum rate, other states would find it less feasible to enforce and sustain their own state's minimum wage rates.

The federal minimum wage rate has never been among the primary drivers of U.S. dollar’s inflation which occurs regardless if the minimum rate is or is not increased. The minimum wage rate has been more a victim rather than a cause of our dollars' reduced purchasing power. Respectfully, Supposn
Raising the minimum wage would not be significantly inflationary to the relatively few people who would benefit from it. Roughly 2.9% of hourly workers aged 16 to 24, 1.1% of hourly workers aged 25 to 34 and fewer than 1% of Americans over age 34 now earn minimum wage and most of those are part time supplemental jobs. Very very few full time people who accept minimum wage jobs stay at minimum wage longer than a few weeks at most. Those who are incapable of deserving more money are usually let go pretty quickly.

Because I married a guy who got transferred a LOT, I accepted several minimum wage jobs or near minimum wage to get my foot in the door. Once I had a chance to prove my worth to my employer though, I was earning a decent wage pretty quickly. I loved commission jobs because I could always turn those into money makers for me. A time or two I realized there was essentially no way to improve my situation on a job and just found another one that offered more opportunity.

Raise the minimum wage and you shut out the first time worker who won't earn his pay until he/she develops a work ethic, some skills,. and knowledge. And because more experienced employees will not appreciate being paid near what that unskilled new worker is paid, they will push for more money. And pretty soon everything is more expensive and that new minimum wage will look as pitiful as the $7.25 minimum wage looks now.

The best way to lift people out of poverty is to give them strong incentive to work, promote business growth and entrepreneurship that gives them opportunity to work and develop a work ethic, skills, and value to an employer that will promote their prosperity. It is always counter productive to pay people more than the value of the work they do and therefore encourage mediocrity or worse.
 
It [i.e. government's minimum wage rate] doesn't harm anyone if it's below market rates.
If it's above market rates, it hurts poor, unskilled minorities the most.
If it's at market rates, what good does it do?
Toddsterpatriot, thus far all U.S. federal or lesser governments' minimum wage rates when they're enacted or applied, were and are expressed as definite finite U.S. Dollars per hour.

What you describe as a labor market's minimum “de facto” rate is an indefinite approximated rate. You may consider it based upon a specific labor market's lowest rate or bracket of rates currently being paid to employees. Alternatively, you may consider it as a lowest rates job seekers would accept (if an enterprise would hire them).
Because a government's minimum wage rates are effective only to the extent of their purchasing power (and enforcement), governments' minimum rates are effective only when they're at or greater than whatever you consider to be the market's "de facto" minimum rate.

If there's no government or some other government supported provisions for enforcing something performing functions similar to our federal minimum wage rate, it would not be unusual for a labor market's de facto minimum rate to be driven down and in turn incidences and extents of poverty will increase. Respectfully, Supposn
 
Last edited:
The federal minimum wage rate's purpose:
The federal minimum wage rate (to the extent of the rate's purchasing power), net reduces incidents and extents of poverty. It prevents states having lesser regard for their wage-dependent families, from undermining the labor markets of other U.S. states. If there were no federal minimum rate, other states would find it less feasible to enforce and sustain their own state's minimum wage rates.

The federal minimum wage rate has never been among the primary drivers of U.S. dollar’s inflation which occurs regardless if the minimum rate is or is not increased. The minimum wage rate has been more a victim rather than a cause of our dollars' reduced purchasing power. Respectfully, Supposn
The government should NEVER dictate wages.

Wages should be determined by negotiations between the employer and employee.

It is destructive to the economy for the filthy ass government to dictate wages.
 
Toddsterpatriot, thus far all U.S. federal or lesser governments' minimum wage rates when they're enacted or applied, were and are expressed as definite finite U.S. Dollars per hour.

What you describe as a labor market's minimum “de facto” rate is an indefinite approximated rate. You may consider it based upon a specific labor market's lowest rate or bracket of rates currently being paid to employees. Alternatively, you may consider it as a lowest rates job seekers would accept (if an enterprise would hire them).
Because a government's minimum wage rates are effective only to the extent of their purchasing power (and enforcement), governments' minimum rates are effective only when they're at or greater than whatever you consider to be the market's "de facto" minimum rate.

If there's no government or some other government supported provisions for enforcing something performing functions similar to our federal minimum wage rate, it would not be unusual for a labor market's de facto minimum rate to be driven down and in turn incidences and extents of poverty will increase. Respectfully, Supposn

It's a stupid idea.
Does more harm than good.
 

Forum List

Back
Top