Yay or Nay? Raising the Minimum Wage

There have been talks about raising the minimum wage, but it hasn't really gone anywhere in the past two decades. Sure, the national average increased over time, but only in a minimal amount. Still, states have their own minimum wage laws, where some are lower than the national average, some which are higher. But regardless of the number, there's no denying that with stagnant wages and increasingly expensive living, there has to be a way to accommodate everyone to live a little easier than what's going on now.

For too long, we're seeing families struggling even more so in every state. Not all the tax cuts or incentives in the world will help curb the cost of living at all, and because of that, don't you think there should be a serious conversation about increasing the minimum wage? And if we're considering that, how much would you suggest the minimum wage should be increased to? And what other measures would you take to tackle the issue?

Furthermore:

1. Do you think the national minimum average should be set in stone and override all states and their minimum wage laws, or lack thereof? Why or why not?
   
2. Do you believe there should be a minimum wage law at all? Why or why not?
   
3. What measures should be taken to make the standard of living easier for people of all income levels, especially those making less than the national average?
   
4. How will it affect the economy? Positively? Negatively? Explain.

 

No they shouldn't raise minimum wage, but there should be minimum wage. To make standards of living better they should offer free education so people can get better jobs than minimum wage.

If they raise minimum wage the price of milk will go up and the little extra that the minimum wagers make wouldn't improve their situation.

 

MorningStar, great topic.
Yes, I believe there should be a minimum wage, but it should be accompanied by other controls on capital, otherwise firms will just react to any wage cost pressure by shipping more jobs and investment overseas. It can be done several ways, including:
a financial transactions tax to prioritize domestic investment over capital flight;
greater measures to encourage firms to repatriate profits;
price controls on essential goods - no one should starve amidst plenty;

Granted, a lot of these measures need to be taken on the hemispheric if not global scale, otherwise you only hasten the already speedy 'race to the bottom' as firms look to get all they can get from the public sphere while putting nothing back in, and then moving again when that proves unsustainable. The key to why the working class is suffering worldwide is that human society has been conditioned to give capitalists what they want, how they want, when they want. If every society said 'no' they would have to make profit within the already considerable parameters that existed before the era of unfettered capital movement. It is mind-boggling to me how so many have surrendered to the whims of so few, without so much as a whimper. There is nothing preordained about this state of affairs. Another way is possible.

 

I don't have time to answer in depth right now, but yes I think minimum wage should be increased. California hasn't seen an increase in 6 years. Think of all we've been through in the past 6 years and minimum wage has remained the same. Terrible. It's finally been approved to jump from $8-$10/hr in the next 2 years, I believe.

I definitely agree with Dweb though that something needs to be done about the cost of education. You can't survive easily on minimum wage, and there are too many people who can't afford to continue their education. I actually just went to meet with a counselor about furthering my education, and its going to be another $80,000 for the degree I want. I know there are many people out there who are paying much, much more than that...but as a single mom who's just trying to do better for me and mine...that's a big bill to handle.

I think it goes much further than just increasing minimum wage, but I believe that the increase is a very small step the right direction.

 

that's not fully true ..wages only factor in a small amount to the costs of goods. fuel prices and other expenses factor in more to consumer good pricing.

most food crises like the rice crisis in 2008 were caused by high oil prices which in turn was caused by rampant market speculation, as well as increased use of biofuels.

 

True. Plus the cost of everything will continue to rise the way it always has been. That's all the more reason to raise the minimum wage; the cost of living is going to increase no matter what people get paid.

 

True, Profit margin on groceries is small for a reason, it is mostly due to the competition in the market place. There is not much upward mobility in price of goods except for the forces that affect the entire market as a whole, like some of the key points you mentioned.

 

There should be no federal minimum wage.

Cost of living differs by locality. A $7 minimum wage may not make sense in NYC, but it may make sense in rural Mississippi.

Let states and cities decide what wages work for them on an individual basis.

 

$16-$20+/hr. It's the humane thing to do.

 

yes...by state or metropolitan market in line with cost of living

 

No, they shouldn't raise it. They should deal with the inflation rate.


1. No, The country is very diverse. It has several different costs of living. What may be a good national average in NY is not the same in TX and vice versa.
2. Yes, there should be but it should be applied to all jobs.

 

I would agree that the minimum wage should be raised, but there is honestly no acceptable level. California is now raising its minimum wage to $10/hour but that still will put someone far below the poverty line. We can't afford to double it to $15 without affecting business statewide. Also, does someone flipping burgers warrant a similar wage as an LVN?? While government can try to price fix some goods, it will not be able to control all goods & services. Prices will increase and offset any real gain the employees receive. We want things cheaply, but want companies to increase their cost of labor. It's simply not a possibility. Companies will be forced to increase prices. Of course, the other way would be for the government to provide tax credits to employers who hire more workers. But I think we all know that isn't going to happen because "corporations are evil".

http://smallbusiness.chron.com/costs-might-offset-labor-costs-22120.html

 

Corporations aren't evil the jack holes running them are but I do agree with rest of your post

 

Sorry, the "corporations are evil" line was meant sarcastically. I agree, corporations aren't bad...there are bad people who sometimes get into positions of power.

 

We wouldn't need to raise the minimum wage if we'd stop allowing corperations to offshore so many jobs. Also, raise corporate taxes for the highest earners back up to like 75% or so, then only give them tax breaks when they invest it back into their companies.

The solutions are easy. We've done them before. It's the will to get them done that's hard.

 

Corporations offshore jobs to lower the cost of production. Having more minimum wage jobs doesn't remove the necessity of them needing a higher wage. If anything, if we raise the minimum wage then I would want those jobs to demand higher education/skill level. Minimum wage earners shouldn't be earning as much as skilled trade workers with no new skills or training. If we raise minimum wage, then we need to reevaluate many other professions and what they deserve. Also, raising corporate taxes will only force more companies to lay off or hire overseas.

 

Right, they lower the cost of production by employing people they don't have to pay as much; i.e. the American worker. You end that practice by structuring the corporate tax code in way that makes it cost prohibitive to hire foreign labor or import so many foreign made products. We do that, we fix the economy. Anything else they would have us believe is fiction meant to keep the average person voting against his or her best interest.

Don't believe the hype. In the 1950's the top tax rates were 90%. During that time we had some of the lowest unemployment rates in our history. And, you didn't need a college diploma to live comfortably. Just be willing to work hard and be smart with your money.

 

You can restructure the tax code to make it more friendly to US corporations to hire more American workers. Instead, Obama treats our private corporations like the enemy instead of a big part of the solution. And he believes that public agencies can operate more effectively (as evidenced by the government shutdown).

With higher tax rates the government can become more profitable, but that hurts the American worker. If you raise taxes on corporations, then they outsource or layoff employees. If you raise taxes on individuals, then that places a huge burden on them financially and no money is put into the economy.

 

They can restructure the tax code anyway they want. There is no way most American corporations are going to hire someone for 10/hour when they can go over to china, a communist country that supports china!!, for a lower rate and then come over here and sell it for a much higher rate. It is capitalism not hirism.....

That's the reality. All this talk about higher taxes is bologna. The taxes were even higher in the past and still the United States did better.

 

cosign