anyone else think raising the minimum wage is pointless?

D

Detox.enD

Veteran XV
someone on the radio made this point, and i can't seem to get past it. if you have an arguement for it, let me know, i'm interested.


the idea of raising minimum wage is to help out the people who make minimum wage...

but most of these jobs are int he services area. the company has to pay its workers more, therefore it raises the cost of it's product. the people working in the service, most of the time, also use that service. this may not be true of the girl running the checkout at an expensive clothing store, but majority of the time (grocery stores, gas stations, food places that don't take tips) they do wind up spending their money in these places.

so they get more money, but the goods they buy goes up.... should be even right?

wrong... the sales tax is based off of the % of the cost of the item... so even if the increase in the cost of the item was proportional to the increase in your hourly wage, your now paying more for the tax on the product...

so how exactly is raising minimum wage good? it actually hurts the people its supose to help....

there has to be something i'm missing here....
 
it is a dumb idea. every time minimum wage goes up the small businesses in my town, including my cousin's, dump an employee. sometimes they replace them with an immigrant... oops.
 
trop said:
no you're wrong, and you're dumb
Click to expand...

i'm wrong?

companies wont raise the price of their product to make up for the increase costs of raising minimum wage?

they're just going to say 'oh well, they increased minimum wage, we're going to just have to make less money this year' ?

edit: or as rayn pointed out - just fire one of them?
 
Detox.enD said:
i'm wrong?

companies wont raise the price of their product to make up for the increase costs of raising minimum wage?

they're just going to say 'oh well, they increased minimum wage, we're going to just have to make less money this year' ?

edit: or as rayn pointed out - just fire one of them?
Click to expand...

you are wrong

labor isn't the only input.

so prices dont rise by as much as wages do. prices at mcdonalds dont rise by 20% just because minimum wage got bumped up by a dollar.

therefore, the people who get their wage increased come out ahead.
 
Detox.enD said:
i'm wrong?

companies wont raise the price of their product to make up for the increase costs of raising minimum wage?

they're just going to say 'oh well, they increased minimum wage, we're going to just have to make less money this year' ?

edit: or as rayn pointed out - just fire one of them?
Click to expand...

yes I'm sure rayn has a great undestanding. I am a doctor so listen to what I fucking say

you're wrong and dumb
 
In theory they could make all products super cheap and people would not make as much, etc and it would all work... On paper. This would only suffice in a localized society that does not have an international aspect to it. I've thought about the raise in minimum wage in this light, but it falls victim to the international aspect.
 
ScottTheWise13 said:
you are wrong

labor isn't the only input.

so prices dont rise by as much as wages do. prices at mcdonalds dont rise by 20% just because minimum wage got bumped up by a dollar.

therefore, the people who get their wage increased come out ahead.
Click to expand...

so you're saying companies are ok with making less money??

if i have to pay my employee's 20% more, and i only increase the cost of my product enough to cover half of that raise, then i'm making less money...

(edit: fixed above statement, didn't make any sense)

i find it hard to believe that majority of the companies out there are ok with making less money.....

i understand that your employee's wages are only one input - but the cost of everything is going up right now... i just don't see how it doesn't even out.

*sigh* i guess its because you just can't convince me that companies are not going to try to pass the cost of being forced to raise wages on to the consumer.
 
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Anyone else notice at places where a candy bar used to be 99 cents it's now raised up to 1.08 or something similar? I've only seen it at a few places so far.

Now I'm worried all the fast food places are gonna hike up their value menu prices.

I've always kinda thought raising the minumum wage basically devalues the monay.
 
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raising the minimum wage just makes products cost more, which cancels out the raise

it's just there to make poor people feel like they are getting more money

i would be insulted, personally

"HORRAY I GET TO MAKE 2 DOLLARS MORE A PAYCHECK!"
 
know whats really dumb? Lowering the interest rate and then printing more money!

that way companies dont have to pay people any more BUT inflation still skyrockets! yay
 
and?

the raises themselves are pretty small and insignificant too

what's the point? someone isn't going to be much better off making 8 dollars an hour then they were at 7
 
Isn't this going to only raise inflation as well? The dollar menu is going to be extinct.


Here's the big question, when does the wage stop being raised? I mean, pretty soon we are going to be like Mexico and have small stuff cost 1000000 pasos.
 
Greywolf said:
know whats really dumb? Lowering the interest rate and then printing more money!

that way companies dont have to pay people any more BUT inflation still skyrockets! yay
Click to expand...

hey it's a ron paul supporter who thinks he knows something about the federal reserve and the economy in general but really doesn't know shit.

go back to your conspiracy theories with all your ron paul friends
 
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