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strantor
Registered: Dec 2011
Posts: 13 |
01-03-12 05:37 AM
If minimum wage were abolished tomorrow, what do you think would be the effect? I just had this discussion with a family member. said family member is very adamant that "something is only worth what someone else is willing to pay for it, including labor" - which I almost totally agree with, except in the area of the minimum wage. He thinks that there should be no minimum wage, and all wages should be determined by supply and demand. I think that if there were no minimum wage, people with no skills would make so little that the burden on the tax payers would be substantially increased. I think it would be a bad move. I think the companies would rape the people. However, I have heard some very compelling arguments to the contrary. what are your thoughts?
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achilles28
Registered: Apr 2005
Posts: 7609 |
01-03-12 02:00 PM
It wouldn't be a problem except for the influx of low-skilled, Mexicans who would (and already do) drive down wages. Unchecked "migrant" workers are the equivalent of H1B's for unskilled labor.
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Scataphagos
Registered: Apr 2009
Posts: 9257 |
01-03-12 02:25 PM
Quote from achilles28:
It wouldn't be a problem except for the influx of low-skilled, Mexicans who would (and already do) drive down wages. Unchecked "migrant" workers are the equivalent of H1B's for unskilled labor.
Abolishing minimum wage alone isn't the solution to anything. What we need but will never do includes...
1. Rounding up all illegal aliens and deporting them so that the jobs they now work would be taken by Americans.
2. Revising "social support" to incentivise unemployed Americans to take the jobs vacated by illegals.
Every solution to our problems eventually includes a significant reduction in the standard of living for nearly all Americans. The sooner we take our medicine, the less the pain will be. And if we postpone action too long, the results will be catastrophic for us all.
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zdreg
Registered: Oct 2003
Posts: 8433 |
01-03-12 02:52 PM
Quote from Scataphagos:
Abolishing minimum wage alone isn't the solution to anything. What we need but will never do includes...
1. Rounding up all illegal aliens and deporting them so that the jobs they now work would be taken by Americans.
2. Revising "social support" to incentivise unemployed Americans to take the jobs vacated by illegals.
Every solution to our problems eventually includes a significant reduction in the standard of living for nearly all Americans. The sooner we take our medicine, the less the pain will be. And if we postpone action too long, the results will be catastrophic for us all.
#2 is a pipe dream. 99 weeks of unemployment benefits, while doing nothing to receive them puts european welfare benefits to shame.
if the constitution is not changed to get rid of anchor babies(being born in america makes you a citizen automatically) nothing will change.
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achilles28
Registered: Apr 2005
Posts: 7609 |
01-03-12 03:10 PM
Quote from Scataphagos:
Abolishing minimum wage alone isn't the solution to anything. What we need but will never do includes...
1. Rounding up all illegal aliens and deporting them so that the jobs they now work would be taken by Americans.
2. Revising "social support" to incentivise unemployed Americans to take the jobs vacated by illegals.
Every solution to our problems eventually includes a significant reduction in the standard of living for nearly all Americans. The sooner we take our medicine, the less the pain will be. And if we postpone action too long, the results will be catastrophic for us all.
Oh, I agree. I was merely attempting to stay on point 
Not to worry, the GOP establishment have resolved to rob Paul in Iowa, if he gets close to a win tonight.
http://www.elitetrader.com/vb/showt...threadid=233946
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