What would happen to the economy if minimum wages are raised?

[nicoleivy5]

Workers push for minimum wage to be raised (ethical or unethical)?

What would happen if the government and employers cooperate to boost the minimum wage to say, a very high figure. What would happen to the economy in the short and long run

 

[Grandma]

More people would spend more money, causing stores and restaurants to hire more people...

More tax money would go into local, state, and federal programs, so schools and infrastructure would improve.

 

[Billy_Kinetta]

Jobs would be cut, investment diminished.

It's the value of the work that determines the pay.

 

[nicoleivy5]

real talk thanks guys

 

[Onyx]

Simple.

No independent restaurant startup would ever be able to compete. The rate of failure for restaurant startups is already 9 out of 10.

 

[Onyx]

More people would spend more money, causing stores and restaurants to hire more people...

On Mcdonalds and Walmart, since those are some of the few corporations that can compete in that type of economy.

That is essentially the case now. Any further action would just be signing the death certificate for American small business and independent capitalists.

More tax money would go into local, state, and federal programs, so schools and infrastructure would improve.

The ruling class would bank off of that too. They already bank off the majority of taxpayer revenue, and the only time we benefit from money spent is when public interests coincide with special interests.

 

[xband]

Workers push for minimum wage to be raised (ethical or unethical)?

What would happen if the government and employers cooperate to boost the minimum wage to say, a very high figure. What would happen to the economy in the short and long run

You are paid due to your skill and what the market will bear. Artificially increasing wages will raise the price of the product you produce. This will bankrupt the company you work for and then you are in the unemployment line again.

 

[Onyx]

You are paid due to your skill and what the market will bear.

Not always, as we have seen markets in the past collectively take advantage of workers.

Nonetheless, the answer has never been the government.

 

[Skull Pilot]

It all depends on how much you raise it

A nominal raise to say 8 an hour won't have a huge effect in my state the MW is already over 9 an hour in many states it's over 8 an hour already

If the whole and ridiculous 15 an hour crowd gets their way then we'll see not only a loss of jobs but a decline in purchasing power for everyone already making 15 an hour or more

and since 97% of workers already make more than the federal MW it seems silly to raise it drastically

 

[Onyx]

and since 97% of workers already make more than the federal MW it seems silly to raise it drastically

It seems silly to raise it at all.

Scrap that! It seems silly for the corporate government to play wage control at all.

 

[Skull Pilot]

and since 97% of workers already make more than the federal MW it seems silly to raise it drastically

It seems silly to raise it at all.

Scrap that, it seems silly for the corporate government to play wage control at all.

I agree. It doesn't matter what the MW is IMO because employment is a ladder not a bed you're not supposed to stay at the bottom rung your entire life

 

[Onyx]

I agree. It doesn't matter what the MW is IMO because employment is a ladder not a bed you're not supposed to stay at the bottom rung your entire life

Unfortunately that is not sustainable model for a population, since the "ladder" does not have the capacity for everyone to ascend it.

If this country were intelligent, a tremendous number of non labor positions would never have existed.

 

[xband]

and since 97% of workers already make more than the federal MW it seems silly to raise it drastically

It seems silly to raise it at all.

Scrap that! It seems silly for the corporate government to play wage control at all.

It's pure insanity to price yourself out of a job. There are multitudes of scabs eager and willing to do low tech work.

 

[Onyx]

It's pure insanity to price yourself out of a job.

No, what's insane is working at a job where you are undervalued.

There are multitudes of scabs eager and willing to do low tech work.

And there is this theoretical concept called competition, that hypothetically should prevent someone from absorbing labor at .50 ¢

Rarely markets can monopolize and control their sector, although this rarely happens without government. If this is the case, then I support worker syndicates as a means of direct action recourse.

 

[xband]

It's pure insanity to price yourself out of a job.

No, what's insane is working at a job where you are undervalued.

There are multitudes of scabs eager and willing to do low tech work.

And there is this theoretical concept called competition, that hypothetically should prevent someone from absorbing labor at .50 ¢

Rarely markets can monopolize and control their sector, although this rarely happens without govvernment. In which case I am a huge fan of worker syndicates as a means of direct action recourse.

I can't read or speak Cyrillic but am a wordsmith. Please translate your by line.

 

[Onyx]

I can't read or speak Cyrillic but am a wordsmith. Please translate your by line.

Not sure the relevance, but whatever. Google translate is your friend....

Google Translate

 

[xband]

I can't read or speak Cyrillic but am a wordsmith. Please translate your by line.

Not sure the relevance, but whatever. Google translate is your friend....

Google Translate

That was a simple and innocent request on my part and it is much easier for you to translate rather than for me Google it.

 

[Onyx]

That was a simple and innocent request on my part and it is much easier for you to translate rather than for me Google it.

Mate, you literally just copy and paste the phrase into one side, and it instantly pops out the other.

Likewise, if you are running on google chrome or have the proper plug in, you can just highlight the sentence, right click, and press translate.

 

[xband]

That was a simple and innocent request on my part and it is much easier for you to translate rather than for me Google it.

Mate, you literally just copy and paste the phrase into one side, and it instantly pops out the other.

Likewise, if you are running on google chrome or have the proper plug in, you can just highlight the sentence, right click, and press translate.

I was born long before the computer revolution and can't even copy and paste. If that is some kind of secret phrase then just say so and I will not inquire further. I have a Univac general purpose digital computer for an avatar that was used special purpose many decades ago.

 

[Onyx]

I was born long before the computer revolution and can't even copy and paste. If that is some kind of secret phrase then just say so and I will not inquire further. I have a Univac general purpose digital computer for an avatar that was used special purpose many decades ago.

Don't worry, someone will come around and translate it for you.

And yes, I like being difficult.