Wow.. Min. Wage in the US is only $5.15/hr

[VanCitySportsGuy]

http://www.cnn.com/2006/POLITICS/06/....ap/index.html

You learn something new everyday.

One of the proposals in the article said it should eventually be raised to $7.25/hr. That is still extremely low. I don't know how any person that is single could live off of $7.25/hr, I imagine it's much harder for single parents.

I like Chris Rock's joke about min. wage "Minimum wage means if your employer could legally pay your *** less, they would".

[dieselboy]

Re: Wow.. Min. Wage in the US is only $5.15/hr

Washington State is #1

[GamingJones]

Re: Wow.. Min. Wage in the US is only $5.15/hr

http://www.cnn.com/2006/POLITICS/06/....ap/index.html

You learn something new everyday.

One of the proposals in the article said it should eventually be raised to $7.25/hr. That is still extremely low. I don't know how any person that is single could live off of $7.25/hr, I imagine it's much harder for single parents.

I like Chris Rock's joke about min. wage "Minimum wage means if your employer could legally pay your *** less, they would".

In most cases, raising minimum wages increases unemployment.

[dkgojackets]

Re: Wow.. Min. Wage in the US is only $5.15/hr

There shouldnt be any minimum wage. Let the market work. A higher minimum wage means less and less entry jobs available.

[MassNole]

Re: Wow.. Min. Wage in the US is only $5.15/hr

There shouldnt be any minimum wage. Let the market work. A higher minimum wage means less and less entry jobs available.

Not really, the biggest issue is unions actually. Their k's have their wages linked to minimum wage and being x% above minimum wage, hence if you raise it then it could create mass inflation when it comes to unions.

[VanCitySportsGuy]

Re: Wow.. Min. Wage in the US is only $5.15/hr

In most cases, raising minimum wages increases unemployment.

http://www.cnn.com/2006/US/06/20/dob...e21/index.html

The myth that raising the minimum wage will lead to job cuts is just that: a myth. In fact, research suggests just the opposite. According to the Fiscal Policy Institute, since 1998, states with higher minimum wages experienced better job growth than states paying only the federal minimum wage. Among small retail businesses in those higher minimum-wage states, job growth was double the rest of the country.

[MassNole]

Re: Wow.. Min. Wage in the US is only $5.15/hr

http://www.cnn.com/2006/US/06/20/dob...e21/index.html

The myth that raising the minimum wage will lead to job cuts is just that: a myth. In fact, research suggests just the opposite. According to the Fiscal Policy Institute, since 1998, states with higher minimum wages experienced better job growth than states paying only the federal minimum wage. Among small retail businesses in those higher minimum-wage states, job growth was double the rest of the country.

Call it a hunch that states following Federal guidelines are ones with a strong union presence.

[GamingJones]

Re: Wow.. Min. Wage in the US is only $5.15/hr

Not really, the biggest issue is unions actually. Their k's have their wages linked to minimum wage and being x% above minimum wage, hence if you raise it then it could create mass inflation when it comes to unions.

In 2005 only 12.5% of US workers were union members, down from 20.1% in 1983.

Unionization is having less of an effect on US economics than ever.

[MassNole]

Re: Wow.. Min. Wage in the US is only $5.15/hr

In 2005 only 12.5% of US workers were union members, down from 20.1% in 1983.

Unionization is having less of an effect on US economics than ever.

Well given the typical union k, we would be looking at a mandatory pay hike for 10-12.5% of all US workers. That doesn't seem like a lot up front and doesn't effect unions like the MLBPA or NFLPA, but it would have a profound effect on inflation.

[bryan_05]

Re: Wow.. Min. Wage in the US is only $5.15/hr

The theory that raising minimum wage comes from Microeconomic textbooks where EVERYTHING IS CETERIS PERIBUS. Real life isn't like that. Markets can't "Work" themselves out today because peopel are not fully informed, nor capable of moving anywhere without cost. Think outside the books for a second.

[GamingJones]

Re: Wow.. Min. Wage in the US is only $5.15/hr

http://www.cnn.com/2006/US/06/20/dob...e21/index.html

The myth that raising the minimum wage will lead to job cuts is just that: a myth. In fact, research suggests just the opposite. According to the Fiscal Policy Institute, since 1998, states with higher minimum wages experienced better job growth than states paying only the federal minimum wage. Among small retail businesses in those higher minimum-wage states, job growth was double the rest of the country.

They can claim whatever they like, but basis of the US economic model is supply and demand. Price floors (i.e. minimum wages) reduce quantity supplied (i.e. jobs).

Now it may be true that the states with higher minimum wages (how many states, 1, 2, 20?) had better job growth, but is that because of the higher minimum wage or because of other factors not mentioned in that paragraph? The paragraph you quoted was pretty vague.

[GamingJones]

Re: Wow.. Min. Wage in the US is only $5.15/hr

The theory that raising minimum wage comes from Microeconomic textbooks where EVERYTHING IS CETERIS PERIBUS. Real life isn't like that. Markets can't "Work" themselves out today because peopel are not fully informed, nor capable of moving anywhere without cost. Think outside the books for a second.

And helping lower income individuals by raising the minimum wage makes the assumption that those people will use the increased income to better themselves, which isn't true.

Look at the $2000 debit cards given out to victims of hurrican Katrina. A good portion of that money was spent on alcohol, strip clubs, and fire arms.

[fishepa]

Re: Wow.. Min. Wage in the US is only $5.15/hr

Stay in school!!

[MassNole]

Re: Wow.. Min. Wage in the US is only $5.15/hr

Look at the $2000 debit cards given out to victims of hurrican Katrina. A good portion of that money was spent on alcohol, strip clubs, and fire arms.

And a lot of that was douchebags abusing the system, the bad apples don't speak for the norm.

[GamingJones]

Re: Wow.. Min. Wage in the US is only $5.15/hr

And a lot of that was douchebags abusing the system, the bad apples don't speak for the norm.

Are those making minimum wage "the norm"?