Why's it bad to raise minimum wage? srs

[TheTherapist]

I'm not an economist so i don't know about this. A lot of miscers saying its bad to raise minimum wage but the poorer people are the ones who waste the money. Wasting money = more money in the system. More money in the system = more jobs for people to try and get that money in the system

So isn't it a good thing. Looks like to me it'll keep the poor poor, make the rich richer but give more jobs for the middle class, no?

[TheTherapist]

bump

[AndroidBrah]

because if mcdonald workers get like $15 now instead of whatever minimum wage is, that $1 burger is gonna be $2 now cuz they need a way to pay the workers $15, which is why we're against it.

[TrenFart]

prices will increase accordingly.
If people who produce things have less money to manufacture products because they're spending more on labor, they have to raise prices to be profitable.

[MrNoobKid]

if minimum wage raised, product prices would raise too, it would be exactly the same as if the minimum wage didnt raise.

[bulkdbrah]

Raising the minimum wage means business pay employees more, businesses lose profits due to paying employees more, Businesses raise prices and fire employees to offset the lose.

[AdamOm]

John owns a business and has $80 a day to spend on employees. With a minimum wage of $8 he can hire 10 employees per day.

The Barack Mamba raises minimum wage to $10, now John can only hire 8 workers with that money.

Two people had to be fired.

[scadoosh]

either higher prices on products or the company will reduce the size of its workforce

[rcdudegermy10]

minumunm wage goes up...

brb prices of everything go up
brb employees lose benefits because the money for benefits is going to their wages
brb fewer jobs because now jobs cost more

If you want to get paid more, get a degree, get a skill, get something. You can't expect something from nothing

[Kulix]

The thing is, the poor people will be out of a job. The employer should only pay what the employee is worth. It ends up placing unskilled workers out of the market.

[nutsy54]

Because the money has to come from somewhere. So it's basically a mix of higher prices and/or fewer employees (or work hours). Most companies, especially small businesses, don't have massive amounts of excess revenue to dig into to fund these feel-good, vote-buying stunts.

PS: Just for reference, less than 3% of US employees actually make minimum wage. Which means the vast majority have already figured out how to make more on their own.

[BuschBacon]

while the goods would raise...........but not by a lot


You would have an even bigger unemployment problem.

Instead of paying 20 workers at 7.25 an hr you would pay 7-10 workers 15 an hr.

More with less. It is called 6Sigma/Lean program. Motorola invented it and now a lot of companies do it.

So if you fired those 10 workers.....unemployment would go up even more which means less spending overall.


A raise in goods that is not due to inflation plus less spending in the economy as a whole, and you will get into hyper inflation.

Which means it would be cheaper to burn the money to heat your house than to buy a loaf of bread.

[bigdogfarmhand]

Raising minimum wage is another libtard way of patching the bottom of a sinking boat.

But the thing is when u patch over rust the patch always breaks.

[AdamOm]

minumunm wage goes up...

brb prices of everything go up
brb employees lose benefits because the money for benefits is going to their wages
brb fewer jobs because now jobs cost more

If you want to get paid more, get a degree, get a skill, get something. You can't expect something from nothing

Plus they all have to provide health care now.

[jmonty]

people inexplicably want to protect the profits of their corporate masters.








(not srs)











(maybe srs)

[Dannylightning1]

lets see, work minimum wage and you might be able to afford to rent a closet live in. i am not sure how anyone could afford to live off minimum wage. seems like you need to make at least 14 or 15 a hour just make it on your own.

i think prices are as high as they are because people are greedy. hell ******** makes about 250 bucks each second.. samsung makes about 7 thousand dollars per second. apple makes abou 5k per second.

******** does not even sell any products. you would think if big company's make this kind of money they could pay employees more and not need to raise prices.

where i work the CEO gets a free house, free car, makes several hundred thousand a year and gets around 250k in bonus's a year. ok the guy lives for free and makes **** loads of money, we are also non proffit, he always does his best to keep the employees from getting raises, that way he gets bigger bonuses.

[CollegeStudent8]

It is bad because corporation won't be billions in profit, and CEO's wouldn't be able to get their 100% raise each year.

[Maestro]

As much as I am a Libertarian, This is where I have qualms with it; a tried and true hard middle libertarian would say that there should be no minimum wage and that business should be able to set wages as low as they want.....

If that was the case then every company would have something insane like a $1/hour wage. Sure you can just quit and find some other job, but what if ALL business had insanely low wages? Wal-Mart has a 1$/hour wage and you're forced to quit and work for, say, Costco because their wages are 1.75$/hour that really doesn't put you in a better position.

I guess you could just go to college, but then that would saturate the market even more and expand the "soon to burst" student loan bubble even more.

When the population gets to a certain size you have to have some form of regulation somewhere even if that means a set mimimum wage and a protocol for slowly raising it every few years or so to keep up with the cost of living wages.

[BuschBacon]

lets see, work minimum wage and you might be able to afford to rent a closet live in. i am not sure how anyone could afford to live off minimum wage.

Minimum wage is not meant to be used for making a living.


It is supposed to give the skill less a work ethic and some skills.

You are not supposed to be 21 and working at McD.


Economics not even once.

[KennyK]

prices will increase accordingly.
If people who produce things have less money to manufacture products because they're spending more on labor, they have to raise prices to be profitable.

Prices are already rising, so....

Prices are going up
Wages are not.


Also, if you don't pay workers enough to live then they'll need food stamps/ social programs to cover the gap which means that you're subsidizing them anyway plus the company they work for still keep the profits

[zwdog1122]

>min wage rises
>business owner fires employees to keep costs low
> these employees go on the dole
>more people on welfare = more votes for the dems

simple

[Maestro]

You are not supposed to be 21 and working at McD.

can you give me an example of what someone is suppose to do between the ages of 17-20 that is suppose to give them koalafications that exceed a fast food job?

A lot of us take our circumstances for granted because we always had our parents to help us along the way. But what if you're a foster kid that never got adopted? As soon as you turn 18, they kick you out on the street.

[astensean]

because if mcdonald workers get like $15 now instead of whatever minimum wage is, that $1 burger is gonna be $2 now cuz they need a way to pay the workers $15, which is why we're against it.

sad

[Highinthegym]

either higher prices on products or the company will reduce the size of its workforce

Pretty much this.

Would also instantly devalue everyone else's dollars. (Unless you're in the 2-5% of the population that actually works for minimum wage). It's not like you, me, my mom / anybody else is automatically going to see a $4-5/hr pay raise. No, we'll all stay right where we're at.

[zwdog1122]

Prices are already rising, so....

Prices are going up
Wages are not.


Also, if you don't pay workers enough to live then they'll need food stamps/ social programs to cover the gap which means that you're subsidizing them anyway plus the company they work for still keep the profits

How can prices be going up if wages are not? That violates the basic laws of economics. Unless the aggregate supply is decreasing,in which the problem will not be solved by any wage legislation.

[139]

Inflation

[Maestro]

Prices are already rising, so....

Prices are going up
Wages are not.


Also, if you don't pay workers enough to live then they'll need food stamps/ social programs to cover the gap which means that you're subsidizing them anyway plus the company they work for still keep the profits

this.

There would be no debate over the minimum wage if prices weren't continuing to rise for all goods and services, but the minimum wage has more or less stayed the same. the current system we're in is not healthy.

[provodka]

unemployment will go up immediately as small businesses cant afford to pay high min wage

[kbrown225]

Poor people are a small part of the GDP.

You're wrong brah.

[TrenFart]

Prices are already rising, so....

Prices are going up
Wages are not.


Also, if you don't pay workers enough to live then they'll need food stamps/ social programs to cover the gap which means that you're subsidizing them anyway plus the company they work for still keep the profits

Prices will increase even more if minimum wage is increased though
businesses have to make up the difference somehow, either by letting people go or by charging more for products and services
it will make it so things are the same as before, but the dollar has less purchasing power.