Economics, economists, textbooks, hypotheticals, the management view. In the end, though, the minimum-wage worker still can't support his family.
Hello dbphoenix So why don't you answer my question I asked earlier, post 19. “If raising the minimum wage is such a good idea why not be really compassionate and have the government raise the minimum wage so that every one is making at least a $ 100,000/year ? Do you think that would be a good idea ?” You start this thread called “Arguments Against Raising Minimum Wage Don't Hold up” and when presented with well reasoned arguments against raising the minimum wage based on the science of economics you don't reply with any counter arguments. This thread should be retitled “Arguments For Raising the Minimum Wage Don't Hold up” Maverick74 in post 20 explained the problem with raising the minimum wage pretty clearly. What part did you not understand ? Your heart is in the right place but we live in the real world. And sad as it may seem raising the minimum wage ultimately only hurts the people it is suppose to help. But if you think raising the minimum wage so that every one is making at least a $ 100,000/year is a good idea then maybe you should run for president on that ticket. Just make sure every one you hire to help run your campaign is getting paid personally by you no less than a $ 100,000/year. It wouldn't be right running for president saying every one else should be paying your proposed minimum wage while you do the opposite. Anubis
Every company should have it's own union. A happy company is a successful company. The present arrangement is so 19th century with the chief Hog raking in a disproportionate amount at the top and a stuff the workers attitude ( so they need 3 jobs and 2 hrs sleep per night to feed a family, so what ? ) Christian compassion ? Not likely in some countries. A big re-think is needed. To get a competitive company and a compassionate one too. I would like to suggest a fair and fluid ( earnings up in good times and down in hard times ) policy. Also for all public workers.
How about we start incentivsing those that earn min wage to not have kids kind of the opposite of what we are doing. What do think would be a motivating amount? I think 3k a year would be good. This seems like it could help fight the cycle of poverty and generational dependensency. Oh wait they want us to be dependent:-(
Actually the present arrangement is rather new, though there are those who'd like to see an eventual return to the 19th-century feudal system. A few decades ago, the average executive compensation was 20 times the wage of the average worker. Now it's over 300 times. It's nearly 800 times the wage of the minimum-wage worker. So the "well-reasoned" argument that companies just can't afford to raise wages does not hold water (Jonathan Swift's "A Modest Proposal" was also "well-reasoned"). Nor does the argument that consumers will flee in droves if prices are raised (McDonald's hamburgers used to be 15 cents). Christian compassion aside, companies will eventually figure out -- some already have -- that workers can't afford to buy if they can barely subsist, and a capitalist economy with diminishing demand will be short-lived. Not that a CEO who's just in it for the money will necessarily care (look at Sears), but we got past the robber barons and we may get past this as well. If we don't, we're all in trouble.
I have no problem on some people being worth and paid more than others but the differential gap between rich and poor has become much too big. Dangerous as it is, this really unfair situation causes bitterness and envy. Want a nice country for people to live in then keep the gap low for a " we are all in it together " feeling. Gated communities of rich now hide behind tall gates, walls and security guards.
Yeah these theories are all nice and fuzzy and warm except they don't work. Even liberals that run corporations don't support it. Funny how that works. I always like to say when people bring these ideas up, why don't we start with "you". Why don't "you" start a company, hire workers, build a business, peg your take home to some ratio to the avg worker at your company. What da ya say? Huh? What's that? You gotta speak up, can't hear so well in my left ear. Oh, you got your own thing going on. OK, I understand. Thanks for coming out. Next....LOL.
Lol all you like, but so far your "well-reasoned arguments" are nothing more than the usual patrician rationalization. The "theories" worked just fine until the late 70s/early 80s when productivity and wage growth began to diverge. But you're probably too young to remember.
well, I'm old enough to remember we went through this exact same argument, practically word for word on both sides last time we raised the min wage. Nothing has changed. Same old thing. And it will end up the same old way. The min wage will be raised when it makes political sense for the politicians. Has nothing really to do with poor workers or the economy.