Minimum Wage.?

Do you believe that minimum wage is good? or does it keep people in a controlled income level. also if minimum wage gets an increase in their wage and I don't, doesn't that make my job worth less.(closer to minimum wage), when was the last increase in wages you got equal to what they're getting.

Answer:
If you put the price of anything up, the demand for it declines. Mandating a wage hike means that people lose jobs in favor of greater investments in capital equipment or hiring more competent labor. Putting people out of work is a bad idea, because work teaches people useful habits. Being unemployed is bad news. People get promotions out of minimum wage jobs and start moving up the ladder.

The solution to these problems of poor earning capacity is the acquistion of greater skills. When we spend so much more money than third world countries on education at schools, for no better results from the schools, we have to look hard and long at the socialized public school system. It is failing our youth.
Minimum wage avoids the exploitation of people, providing people with atleast a minimum income of which the government has deemed the bare minimum to survive in todays society. Trust me, the government is very tight with money and the idea of inflation haunts them. you should be recieving 3% cost of living increase if your in a higher paying job, and if that is the case you are making much more per year extra than the minimum wage workers made when they raised it.
Depends on where you're coming from. If you have a post-secondary education, then it does keep the status quo so it does keep people in a controlled income level.

Yes, if there is a minimum wage increase then your above minimum wage job would be worth less. Also, inflation would go up where we would have to pay five dollars for a pack of gum (okay, that was an overexaggeration, but you get the point).
I think it's ridiculous to expect anyone to be able to live on the current minimum wage.
Unless of course you're still living with your parents and have no rent or utilities to pay for.
i don't think the minimum wage should increase. it would only make prices rise and also make it more difficult for laborers who are not legal citizens to survive here.
I don't believe in a minimum wage. It is a type of forced redistribution. Labour is a market just like any other. I am living in BC right now (hence the correct spelling of labour...j/k) and minimum wage is 8 bucks. However i am also a business owner and i cannot hire ANYBODY for less than 10. This is because there are a lot of jobs here right now. Jobs in demand = price goes up. If jobs were to fall out of demand then yes wages would fall. However so would costs and the dollar deflates because goods can be made cheaper. Cheaper goods = lower cost of living = more disposable income = more industry opportunities = more jobs and then the cost of labour rises again. Minimum wage does not let this cycle pick itself back up when it is in a slump. Economies don't slump because people aren't making enough. They slump because BUSINESSES aren't making enough. The government does regulate this cycle to some degree by controlling the Fed rate while i don't believe in a minimum wage i do think that corporation should be limited by there gross margin. If this margin gets too high then they should be required to give some back to the employee. This is to stop entities from like wal-mart from creating a micro-monopoly on unskilled labour.
I believe that the minimum wage is a social good. It keeps businesses in check by offering a fair price for work.

From an economic stand point it really puts a strain on the labor market. The higher the wage there above what the equilibrium level the market demands then you start to have shortages i.e. unemployment. Right now at $5.15 is mostly below the what the market calls for i.e. most jobs pay better. However when you increase the level to $7.25 or whatever you might see some unemployment or higher prices.
Minimum wage was designed to protect people of low income. but it does not work since "smart" business would simply pass the cost of higher wages onto the consumers. with prices rising all around them, minimum wage workers will always be in a position of choosing between paying rent, or eating a decent meal.

Is your job worthless if you don't get a decent pay? A better question would be "Is a job worth doing if you don't enjoy it?"

for all those who believe minimum wage is "fair", by all means, try living off minimum wage for awhile.

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