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

[MassNole]

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

Are those making minimum wage "the norm"?

From the typical US citizen? No. However the example you used the norm was likely not the douchebags abusing the money, it was the person who lost everything. Just because some people badly abuse the system doesn't mean everyone in the same socio-economic class will do the same.

[GamingJones]

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

From the typical US citizen? No. However the example you used the norm was likely not the douchebags abusing the money, it was the person who lost everything. Just because some people badly abuse the system doesn't mean everyone in the same socio-economic class will do the same.

But the question is the same, what will that socio-economic class do with the additional income?

Will it improve their quality of life, or will the money get wasted?

Will employers hire as much?

If employers keep the same level of staffing, the increase of the minimum wage will be a short term band aid instead of a long term answer...because the consumers will end up paying the cost in the form of increased pricing.

[bryan_05]

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

Let's take a look at a small business...

If there are less than 2 employees there the place won't run properly.
Owner pays employees A and B $6.00 / hour each to run the store.
Total profit at the end of the year sales - expenses = $1,000,000
Owner is now forced to pay $8.00 / hour. ...

If he is making a profit will he raise prices at the risk of driving consumers away (elasticity of demand) or does he just cut into his profits? Remember he can't hire less.

[mjb2124]

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

I've never had an issue with the minimum wage being low. Truthfully, I don't think it should be much higher. Heck, it was even lower when I had my first summer job and I didn't have a problem with it then.

Want more money? Work harder to earn it. Do something to make oneself more valuable.

Just my take. I'll leave it at that.

[RubenDouglas]

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

its around 5.50 here

some people commute to another city 56 miles north and can get min. wage for almost twice as much

millions live off of 7.25 or less and they live normal lives. you must have higher living standards.. all that material stuff im sure.

its funny. people arent saving any now earning less. i doubt they would start to save if they earned just alittle more.. its just more profits for everyone else.

[GamingJones]

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

Let's take a look at a small business...

If there are less than 2 employees there the place won't run properly.
Owner pays employees A and B $6.00 / hour each to run the store.
Total profit at the end of the year sales - expenses = $1,000,000
Owner is now forced to pay $8.00 / hour. ...

If he is making a profit will he raise prices at the risk of driving consumers away (elasticity of demand) or does he just cut into his profits? Remember he can't hire less.

Your purely hypothetical example works, but it is purely hypothetical.

Increase the total number of employees (say at a local resteraunt, where they have 10-12 staff members), look at the annual income instead of hourly wage (instead of 6 -> 8, consider an average work week of 40 hours * 52 weeks * 2 dollar increase in pay * 12 employees = increase variable cost of around $50,000) and lower the profit (very few small business owners make a mil a year net profit) to 100,000. That business owner is not going to hire 10-12 employees with a minimum wage raise of $2. Instead he is going to cut his staff to the fewest he can get by with.

[GamingJones]

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

I've never had an issue with the minimum wage being low. Truthfully, I don't think it should be much higher. Heck, it was even lower when I had my first summer job and I didn't have a problem with it then.

Want more money? Work harder to earn it. Do something to make oneself more valuable.

Just my take. I'll leave it at that.

I agree with you. There are plenty of jobs above minimum wage, you just have to find them and be willing to put in the work.

[VanCitySportsGuy]

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

I've never had an issue with the minimum wage being low. Truthfully, I don't think it should be much higher. Heck, it was even lower when I had my first summer job and I didn't have a problem with it then.

Want more money? Work harder to earn it. Do something to make oneself more valuable.

Just my take. I'll leave it at that.

I know what you're saying (and for the most part agree) but it's not always that simple to just say find a better job.

For example what happens if you're a 16 year old with 2 kids that had to drop out of HS? I doubt a person like her is going to find a job above min. wage.

And of course I would expect someone to reply with "well it's her fault for having 2 kids so young, take some personal responability, etc....". But this doesn't solve the problem. A lot of single mothers (teenagers and adults) work for min. wage because they couldn't even get a High School education for various reasons.

[GamingJones]

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

I know what you're saying (and for the most part agree) but it's not always that simple to just say find a better job.

For example what happens if you're a 16 year old with 2 kids that had to drop out of HS? I doubt a person like her is going to find a job above min. wage.

And of course I would expect someone to reply with "well it's her fault for having 2 kids so young, take some personal responability, etc....". But this doesn't solve the problem. A lot of single mothers (teenagers and adults) work for min. wage because they couldn't even get a High School education for various reasons.

Yes, a lot of the problem you are talking about is self accountability. You are shifting the burden of a mistake by parents and kids to society.

Even with that said, the answer to the problem you mentioned is not raising the minimum wage. That is a short term fix that will not help the family out in the long run. If you want to help the family out, give the working members an incentive to work harder and better themselves...not make more for doing less.

[GP Mercy]

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

I know what you're saying (and for the most part agree) but it's not always that simple to just say find a better job.

For example what happens if you're a 16 year old with 2 kids that had to drop out of HS? I doubt a person like her is going to find a job above min. wage.

And of course I would expect someone to reply with "well it's her fault for having 2 kids so young, take some personal responability, etc....". But this doesn't solve the problem. A lot of single mothers (teenagers and adults) work for min. wage because they couldn't even get a High School education for various reasons.

Did you forget welfare? I know that isn't much, but that's what most teenage mothers get. It's still not enough from what I hear. And yes, it is someone fault if they have 2 kids if they are not prepared to take responsibility. I know that sounds harsh, but tis true.

[bryan_05]

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

$7.00 an hour with no overtime is about $14,000 per year. Let's say you live in a poor part of the country... this will be VERY nice on prices.

$300 rent x 12 = $3600
$75 electricity x 12 = $890
$20 phone x 12 = $240
$200 Food x 12 = $2400
$2 x 250 days work Mass Transit = $500
Goodwill CLothes $200
Taxes = $2800

Left = $3370

Who knows about doctor's bills or children. Remember that is what is left with very low prices on clothes, food, rent, electricity. And NO Car.

$7.00 / hour ON YOUR OWN is NOT GOOD.

[dkgojackets]

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

I know what you're saying (and for the most part agree) but it's not always that simple to just say find a better job.

For example what happens if you're a 16 year old with 2 kids that had to drop out of HS? I doubt a person like her is going to find a job above min. wage.

And of course I would expect someone to reply with "well it's her fault for having 2 kids so young, take some personal responability, etc....". But this doesn't solve the problem. A lot of single mothers (teenagers and adults) work for min. wage because they couldn't even get a High School education for various reasons.

Because thats the straight-up truth. You f'ed up (no pun intended) and are now paying the consequences. That is life.

[bryan_05]

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

Your purely hypothetical example works, but it is purely hypothetical.

Increase the total number of employees (say at a local resteraunt, where they have 10-12 staff members), look at the annual income instead of hourly wage (instead of 6 -> 8, consider an average work week of 40 hours * 52 weeks * 2 dollar increase in pay * 12 employees = increase variable cost of around $50,000) and lower the profit (very few small business owners make a mil a year net profit) to 100,000. That business owner is not going to hire 10-12 employees with a minimum wage raise of $2. Instead he is going to cut his staff to the fewest he can get by with.

For future argument just use 2000 hours per year. 50 weeks X 40 hours. Also, businesses are going to always use the lowest they can get by with, they don't hire people out of generosity.

Also, my example is hypothetical, just like the THEORY that minimum wage increases decreases employment and welfare is hypothetical.

[GP Mercy]

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

Because thats the straight-up truth. You f'ed up (no pun intended) and are now paying the consequences. That is life.

"Learn and Live"- The American Heart Association

[dkgojackets]

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

its around 5.50 here

some people commute to another city 56 miles north and can get min. wage for almost twice as much

millions live off of 7.25 or less and they live normal lives. you must have higher living standards.. all that material stuff im sure.

its funny. people arent saving any now earning less. i doubt they would start to save if they earned just alittle more.. its just more profits for everyone else.

Where is min wage 11 bucks an hour?

And you are right, an increase in min wage is not going to lead to an increase in saving money for necessities.