Why are people on ET so against a decent minimum wage

Discussion in 'Economics' started by jwecme, Dec 4, 2007.

  1. jwecme


    I am troubled by the attitude of lots of people on here as to the setting of a decent level of minimum wage. In the UK we currently have a minimum wage of around 10 dollars an hour with universal health care based on need not ability to pay.

    The Uk's unemployment rate is considerably lower than the US's as we actually count long term unemployed unlike the US, so I cannot see any argument against protecting the most vulnerable rather than seeing how much you can screw out of the downtrodden for an extra few cents profit for business owners.

    PLease do not tell me either that the market is the best way to solve everything, we have strict market rules already in the UK and US for abbusive market based practices such as monopoly prevention and environmental damage etc. i see paying someone less than 10 bucks an hour as abusing them.
  2. November 14 2007 - The unemployment rate in UK remained at 5.4%.

    October unemployment US 4.7%.
  3. jwecme


    Take a look at how they are calculated the way the US's is done is farcical
  4. Wow, you really mangled that one, jwecme.

    As far as wages are concerned, if you think the US minimum wages suck ass, you really don't want to know what a highly trained, extremely well educated worker in India is willing to be paid to do the same thing that some extremely bright people here do.

    Oh, OK, try 5% to 10% (no exaggerations), and we're not even including benefits here.

    Capitalism is the ultimate equalizer of humanity and shows us the truth of the human condition.

    KInda ugly, ain't it.

  5. Aok


    We are all one accident away from needing help.

    No one is saying screw Chris Reeve and if he didnt have Superman's Funds... let him die. We have a duty to protect those who cant fight for themselves.


    It's quite another thing to venerate junkies on their own cable show "Methodonia"


    These jokers "deserve" minimum wage?

    Is that your argument?

    If that is not your argument what is the cut off? A nation cannot afford to take ever more from those who pay the freight to give those who choose not to improve themselves in a globally competitive workplace.

    You must choose. Here's one for you.

    which is more important:

    Taking more and more of your taxes to ensure healthcare for all including those able to work but choosing not to and minimum wage enough to enjoy cricket/soccer on the weekends with a pint of Guinness and download Queen's Bohemian Rhapsody to their Ipod


    The Death of Your Navy?

  6. EricP


    Personally, I'd prefer to have wages set by supply and demand, and would set the minimum wage to zero. In this way, wages are set based upon the value added by the workers skills.

    Let's assume an employer 'abuses' his employees by only paying $3 per hour. What will happen as a result? The workers will quit working for that employer, and take jobs at other firms which are paying higher wages for the skills they possess.

    Let me ask a question back to you. Why ~$10 per hour in the UK? Wouldn't the equivalent to $15 per hour be more 'fair'? Or maybe $20 per hour? Where do you draw the line, and why? As others have suggested, maybe we should set the minimum wage at $50 per hour, and then everyone will be 'rich.' Seriously, though, where is the line set, and why?
  7. just21


    In the Uk you have to add on 2.7m on disability benefit. The majority of whom could work if the welfare state was reformed. It would also lesson the demand for immigrant labour.
  8. jwecme


    I will take the death of the navy as more navy means more war and that is very bad for business.
  9. jwecme


    The rate needs to be set at a level that means you are able to sustain yourself working 40 hours a week not for luxuries just for food rent heating water and telephone.
  10. Thanks for posting that.

    While you are probably a very nice person, you really don't "get it", I'm not saying that to be mean, I'm saying it because it's true, and if you live in the US, you'd better thank whoever you want to that others do.

    #10     Dec 4, 2007