For those interested in learning more about the negative consequences of the minimum wage and why it hurts those it is intended to help, please refer to the work of Walter Williams, Peter Schiff, Ron Paul, Thomas Sowell, and Thomas E. Woods Jr. Those who blindly support the minimum wage are supporting a mandate that hurts low income folks and racial minorities.
Yeah, the state hurt and worse blacks by encouraging and even enforcing slavery and mandating segregation, and so it should then “help” them by prohibiting them from selling their labor below a minimum wage? Crazy! It is more likely just another way to hurt them, except it is disguised.
You make an interesting argument on minimum wage. However, hasn’t history shown that corporations are out to hire less skilled workers, because it’s cheaper to train them and pay them less? We’re seeing this now during this economic hardship with hiring new graduates since their wage is less than someone with a lot of experience.
Minimum wage hasn’t always been 7-8 dollars an hour. If we eliminate this base pay for those with few skills, such as people with a GED or High School Diploma only, what would stop corporations from paying them only 3-4 dollars an hour?
Where’s your evidence that corporations are out to dismiss experienced workers in favor of inexperienced workers? Are you suggesting that it’s favorable to keep minimum wage in place to ensure that inexperienced workers are unemployed?
You fail to recognize that the minimum wage itself is the item most hurting the people only with a GED or High School Diploma. The best way for low-experience workers to compete for a job is to say, “You could pay more for the experienced worker, but I’m willing to work for less and train for the job.” With a forced minimum wage, a business will (most times) automatically hire the experienced worker. There’s no incentive, if you have to pay the same wage regardless of who you hire, you’ll obviously pick the worker with the most experience.
It’s important to understand that it’s better to work for something than for nothing. The millions of unemployed people today could at least have the option of working if there wasn’t a minimum wage law; today, however, their only choice is to remain unemployed in a skewed and limited job market.
Even the most orthodox Marxians are not bold enough to support seriously its essential thesis, namely, that capitalism results in a progressive impoverishment of the wage earners. — Ludwig von Mises
Yeah, the state hurt and worse blacks by encouraging and even enforcing slavery and mandating segregation, and so it should then “help” them by prohibiting them from selling their labor below a minimum wage? Crazy! It is more likely just another way to hurt them, except it is disguised.
You make an interesting argument on minimum wage. However, hasn’t history shown that corporations are out to hire less skilled workers, because it’s cheaper to train them and pay them less? We’re seeing this now during this economic hardship with hiring new graduates since their wage is less than someone with a lot of experience.
Minimum wage hasn’t always been 7-8 dollars an hour. If we eliminate this base pay for those with few skills, such as people with a GED or High School Diploma only, what would stop corporations from paying them only 3-4 dollars an hour?
-Jason
Where’s your evidence that corporations are out to dismiss experienced workers in favor of inexperienced workers? Are you suggesting that it’s favorable to keep minimum wage in place to ensure that inexperienced workers are unemployed?
You fail to recognize that the minimum wage itself is the item most hurting the people only with a GED or High School Diploma. The best way for low-experience workers to compete for a job is to say, “You could pay more for the experienced worker, but I’m willing to work for less and train for the job.” With a forced minimum wage, a business will (most times) automatically hire the experienced worker. There’s no incentive, if you have to pay the same wage regardless of who you hire, you’ll obviously pick the worker with the most experience.
It’s important to understand that it’s better to work for something than for nothing. The millions of unemployed people today could at least have the option of working if there wasn’t a minimum wage law; today, however, their only choice is to remain unemployed in a skewed and limited job market.