What do you think about minimum wage?

[mport1]

Well, if there was no MW, would it not entice a lot more mexicans to cross the boarder knowing they can get work no American will take?

Hopefully, that would be excellent for our economy.

 

[Josh_LA]

Well, if there was no MW, would it not entice a lot more mexicans to cross the boarder knowing they can get work no American will take?

No, it would entice LESS Mexicans or foreigners to come in, because people living here will no longer be protected to any wage promises, they'll be forced to work for crap, which would take away the incentive for employers to hire illegals and foreigners. Why exploit immigrants when you can exploit Americans legally?

 

[yaz]

minimum wage- so small businesses can't hire people for small jobs.

 

[M House]

Interesting but after having worked for absolute minimum wage at around 6 ish dollars an hour, if I didn't live at my parents house at the time I would've pretty much been to put it nicely an economic leech. The small business was so successful that hired me for dish boy, that the owner now works as a manager at a chain store. He now earns a decent amount in this position.

 

[Kludge]

Interesting but after having worked for absolute minimum wage at around 6 ish dollars an hour, if I didn't live at my parents house at the time I would've pretty much been to put it nicely an economic leech.

Everyone pays for overvalued labor. Higher-valued workers need to be paid more so that they aren't being paid the same amount as a "minimum-wage employee", and so all workers' wages need to go up to stay competitive, which can only lead to cost-push inflation. Excess supply of currency will allow the cost-push inflation to work in conjunction with demand-pull inflation (as demand for goods will increase with wage increases). Combine that with the Federal Reserve and associates expanding the monetary supply and you have... well... our current economic situation.


To put it nicely, you were an economic leech (though most blame belongs with the government).

 

[Elwar]

I notice that no one here likes MW.
Are there any devils-advocates?

I'll play devils-advocate (no not, the video game) and point out that some geniuses at the obama forum have proposed a $100 minimum wage and their arguments make a whole heck of a lot of sense.

http://www.theobamaforum.com/showthread.php?t=121

"With $100 an hour minimum wage the poor folks will be able to buy big houses, with more poor folks buying houses the housing crisis will be fixed. Nobody will need loans since they've got all the money they need from working at McD's."

 

[mport1]

I'll play devils-advocate (no not, the video game) and point out that some geniuses at the obama forum have proposed a $100 minimum wage and their arguments make a whole heck of a lot of sense.

http://www.theobamaforum.com/showthread.php?t=121

"With $100 an hour minimum wage the poor folks will be able to buy big houses, with more poor folks buying houses the housing crisis will be fixed. Nobody will need loans since they've got all the money they need from working at McD's."

I assume this is a joke forum right? If not, this is sad:

"I've suggested something similar to this. The more money in circulation the more people will have and thus the better the economy will be. It's simple economics."

"I make $5.10/Hr. at KFC. But, I eat some of the profites, so I make out. When President Obama is in office, we be gettin those upptty jobs in them high rise buildings."

"Now now, lets not over do it.

"As we all know money makes people greedy and selfish... A 40 to 50 dollar an hour minimum should do it. That ought to be a well deserved blow to the corporate fat cats, it will bring the lower classes up to an American standard of living, and give us plenty of extra income to tax in order to fuel the incoming changes."

 

[Fox McCloud]

it's a joke-forum guys, you're safe

www.Democraticunderground.com however...is not...

 

[libertea]

The Republicans are all for supply and demand, until businesses must cough up more money. Then those same Republicans are for open borders, to increase the supply of workers, and lower wages.

Open Borders = Supply and Demand, what is the conflict?

 

[Elwar]

I assume this is a joke forum right? If not, this is sad:

Nope, not a joke forum...it's the official Obama forum. You can tell because of the presidential seal and the fact that 'The' is underlined. Any other Obama forum is a fake.

 

[Jeremy]

Ludwig von Mises describes in Economic Policy why unions and minimum wages together can ruin an economy. And it's all because they don't understand economics.

 

[Fox McCloud]

IIRC though, unions, without access to political power, are not really that dangerous...it's when they do have access to political power that they can wreck the economy.