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The Raising of the Minimum Wage
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Topic: The Raising of the Minimum Wage (Read 1069 times)
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Bront
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The Raising of the Minimum Wage
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January 12, 2007, 07:41:01 AM »
Looks like Congress is going to aim to raise minimum wage to $7.50. I think it will help stimulate the economy at the lower end, with little impact on prices. How much? I'm not sure, but I think it will help.
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Re: The Raising of the Minimum Wage
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Reply #1 on:
January 12, 2007, 02:43:22 PM »
Any raise to minimum wage helps people. Apparently Australia has a great minimum wage policy, increasing the amount by age group.
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Bront
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Re: The Raising of the Minimum Wage
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Reply #2 on:
January 13, 2007, 05:00:36 AM »
That's a different idea. But that intrinsicly makes younger employees more desirable, which isn't always the best effect.
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Drewcifer
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Re: The Raising of the Minimum Wage
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Reply #3 on:
February 16, 2007, 12:49:26 AM »
If the minimum wage is increased, well. Where do most of the people who make minimum wage work? Some type of retail. Fast food, walmart, etc. Does congress honestly think these 'evil companies' will take the added loss of increased wages on the chin? Nope. So what will happen? That's right, folks. Prices will go up. And, the people who do make minimum wage may not notice that they don't seem to have any more money after the raise than before. Minimum wage increase=cost of living increase.
And seriously. It is unfortunate that people try to survive making minimum wage. And i speak from experience. I didn't have enough money to get my car out of the pound, which left me with no place reasonably warm to sleep. But rather than complain, i applied determination. And as it is now, My wife of 13 months and I just bought a house, i make a fairly decent living as a foreman, and am planning on changing careers into the IT field. I share this not to boast, but to express my sincere intrest in this topic.
If you make minimum wage and are trying to support a family, you have made many wrong desicions in your life. Minimum wage is for people who work a part time job (to flee from whatever time you are required to spend with family), and for kids with no marketable skills. If you are an adult, making minimum wage, there are several options available to you. Wether it be biting the bullet and serving our fine country, going to school (which takes less money than they would have you belive...the less you have, the less they ask for), or enrolling in a trade school. Almost anything else is complacentcy, and laziness.
Whew. that was draining.
D
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Bront
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Re: The Raising of the Minimum Wage
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Reply #4 on:
February 16, 2007, 04:41:47 AM »
On the other hand, jobs like that are often suplimentry jobs, or jobs of a secondary wage worker.
The last time the wage was raised, it had a ripple effect on low end wages, and prices did not see a dramatic rise. Part of that was that the cost of doing business on that end was unreasonably low, and prices had been artificaly inflated. Also, people and the direct low end jobs often spend money where they make it, so the increased wages end up going back to the store in increased sales.
However, many unions also base their wages on minimum wage. So union industry workers may get a raise as well. Those are jobs people do make a living doing.
Now, I don't know if we're in the same place as we were the last time, so I don't know if things will remain the same. However, the simple cost of getting to a Minimum wage job has increased over the past 10 years or so, with gas prices and such. So right now a Minimum wage worker gets to keep less than he did 10 years ago before any cost of living adjustment beyond travel.
I don't disagree that Min Wage = bad way to get by, nor should it be a good way, but it's more than just that.
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