MaggieD
DP Veteran
- Joined
- Jul 9, 2010
- Messages
- 43,244
- Reaction score
- 44,664
- Location
- Chicago Area
- Gender
- Female
- Political Leaning
- Moderate
I don't know about the rest of the country but, very few are paid that minimum wage here in our area. (they make more)
Could be because of our better than average economic situation.
I think it should.
In 1974, the Federal minimum wage was $2.00. Using an inflation calculator, the Federal minimum wage should be $9.74. Why isn't it? (It's currently $7.25.)
I think it should.
In 1974, the Federal minimum wage was $2.00. Using an inflation calculator, the Federal minimum wage should be $9.74. Why isn't it? (It's currently $7.25.)
No. The fact that inflation lowers the minimum wage in real terms is minimum wages' one silver lining. If the minimum wage today was $9.74, all that would change would be that more low-education low-experience Americans would be out of work, and the demand for illegals would be somewhat less higher.
That's what "they" keep telling us. I don't believe it.
well, maggie - would you purchase a car that was worth $12K for $23K?
well, maggie - would you purchase a car that was worth $12K for $23K?
I think it should.
In 1974, the Federal minimum wage was $2.00. Using an inflation calculator, the Federal minimum wage should be $9.74. Why isn't it? (It's currently $7.25.)
That doesn't really make any sense. Minimum wage is using government force to make someone pay someone else for more than they're worth.Who says the 23k car is only worth 12?
Seems to me if people pay 23k, it's worth 23k. That's what you folks keep telling me when we discus the nebulous nature of value as it applies to so called economic growth.
I think that the minimum wage should be tied to the federal poverty rate and that no social "safety net" program should ever allow anyone to exceed that level via gov't assistance. Currently a single worker with a full-time, minimum wage job can support themselves and one other person at slightly over that level.
What are Poverty Thresholds and Poverty Guidelines? | Institute for Research on Poverty | University of Wisconsin–Madison
That doesn't really make any sense. Minimum wage is using government force to make someone pay someone else for more than they're worth.
"Well, the government is making them pay $10/hr, so they must be worth it!"
You have a flaw in logic here. The car example is optional. People can buy the car or not or choose a different car. Minimum wage is not optional. One cannot opt out so it is removed from adjustment by the marketplace.
No, you have the flaw. Just like how you can choose a different car, you can choose a different job. You can either find one better paying or work more hours. Furthermore, you can work your way up to a higher salary within the company if you take your job seriously.
No. The fact that inflation lowers the minimum wage in real terms is minimum wages' one silver lining. If the minimum wage today was $9.74, all that would change would be that more low-education low-experience Americans would be out of work, and the demand for illegals would be somewhat less higher.
I think it should.
In 1974, the Federal minimum wage was $2.00. Using an inflation calculator, the Federal minimum wage should be $9.74. Why isn't it? (It's currently $7.25.)
That doesn't really make any sense. Minimum wage is using government force to make someone pay someone else for more than they're worth.
"Well, the government is making them pay $10/hr, so they must be worth it!"
And do companies pay that minimum wage these people aren't worth? If so, it must be worth it to those companies...else, they wouldn't do it.
And do companies pay that minimum wage these people aren't worth? If so, it must be worth it to those companies...else, they wouldn't do it.
Companies pay the least they have to for workers, and not what the worker is worth. If workers were paid what they're "worth," all companies would be profit-neutral, since everyone in the value chain would get back what their efforts produced.
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