Minimum wage does not work
When the government imposes a minimum wage it is placing a tax on those goods and services provided by minimun wage individuals. The price of labor is not independant of the market. The cost of wages are included in what we buy. Since it is a regressive tax, it hurts the very people it purports to help. Not only are less minimum people hired by companies, but the prices that minimum wage people pay for their goods and services go up more than the increase in their salaries. A Big Mac costs more after minimum wages are included in the price. The answer is to let the market determine the price of labor... not a politician trying to get votes by using smoke and mirrors.
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Pro with (
6 ) responses
PRO (1)
I agree. Minimum Wage is wrong and the market should determine the pay. If a business wants to pay someone $1/hr and someone will accept, then by all means have at it.
Posted by Mr X
272 days ago
AGAINST (1)
You need to realize that some industries use minimum wage due to the fact that they cannot afford to pay their employees more than that. At the same time, said employees may not be able to find a better-paying job and need to find a way to alleviate some of their financial burden. Minimum wage is not meant to be a final solution, but a temporary one.
Posted by JohnBrown
272 days ago