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Minimum Wage

Minimum Wage

Do you think there should be a Minimum Wage or should employees and employers dictate what salary should be given? Do not only look from the perspective of the employee getting more money since the more money the employer has to give the more the price of his goods go up.

Wage Minimum

I absolutely do NOT believe in a minimum wage. I believe that the market should be the only controlling factor in wages. Minimum wages have been shown to be major contributors to inflation, job loss, and poverty, as the minimum wage destroys entry level jobs, while increasing the costs of goods and services.

Minimum Wage History & Civil Business Politics

It is also clear that the minimum wage has not and cannot keep up with the cost of living, which is why it was implemented in the first place. With that in mind, why keep it around? Some politicians use the minimum wage as a campaign slogan to draw in the lower class voters, but if you sit down and think about the consequences of having and raising mimimum wages, it poses more harm than good to the economy.

Wage Minimum

I agree with all above. In fact we recently had this problem. The PM increased the minimum wage by one TT dollar and it seems so little, but big businesses that have many employees said that it would equate to 10,000s more to pay each year. The result of this... they said they will now have to increase the price of food, services, etc. In the long run you do not get more money, you get higher prices. Plus for the person that makes just a bit above the minimum wage has nothing to gain except paying more for his/her food.

Wage Minimum

I just thought of one other thing that minimum wage laws do. They cause the middle class to "creep" up in income, so that they pay into a higher tax bracket.

When inflation hits, middle class workers demand higher pay, because their food and other goods are more expensive, and the gap between what the engineer makes and what the janitor makes is less. So, they get a "cost of living" raise. But the government doesn't raise the level at which a person has to pay a higher tax rate, so as people jump over that level, by even .001%, they have to pay more taxes.

Makes minimum wage laws even more appealing to the politicians, doesn't it?

Minimum Wage

I do think we should have a minimum wage because it keeps business owners from cheating workers out. At the same time, though, I think that it should never have gotten as high as it did. When minimum wage went up, so did overall prices, so there really was not a gain in a sense. When the minimum wage was lower, overall prices were definately lower.

Minimum Wage

The answer to this question must surely - like all things - reside in the principles which underpin it (or not).

Can I as an individual justly use force to compel a business owner to pay my friend (the business owner's employee) a minimum wage?

Clearly I cannot. It is a contract between the employer and employee.

It therefore follows that I cannot delegate to government that power because it does not exist within me. It is morally wrong for the individual and it is therefore morally wrong for the group (or government).

Again, as with most things, it comes down to property. Do I have the right to control the property of the business owner? If not, then how can I delegate such control to government?

I recently revisited (after losing the URL) a ten-minute Flash presentation on the subject of property, of liberty...I believe that if people would grasp the truths (simply and graphically taught) in this extremely clear presentation we would have the means to measure whether minimum-wage laws (or any other law) are just or not.

https://www.isil.org/resources/introduction.swf

Dubhdara.

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Minimum Wage Politics Business Civil & History

I am an anti-capitalist, so my views may be a bit more "out there" than most, and as indicated by my profile, I am an anarchist.

In a truly free society, there would be no class distinction between "owner" and "employee" because the employees would be the owners. This method, implemented only a few times in history, and always by the employees when they had the opportunity, has been shown to be amazingly more successful than the brutal capitalist system in which owners become gods and employees become slaves.
Likewise, in a free society, the majority of the people would be deciding how much they wanted to be paid. Since the money would, in effect, be coming out of their sales, they must choose how much to charge for the product. Likewise, customers, also being free, must choose whether or not to pay the price demanded by the people running the company.
Because true anarchism will more than likely forever remain a dream just beyond our grasp, I support the Libertarian campaign when voting. Libertarians, although supporting capitalism, also favor abolishing the minimum wage laws. Under an ideal Libertarian systems, owners are free to choose how much or how little they will pay workers. Likewise, workers are free to choose how much or how little they are willing to work for. In the grand theory of chaos, everything would eventually smooth out to form a working system.

In short, I favor removing the minimum wage law, as well as any other undue government restrictions on property (OSHA, FTC, FCC, FDA, SEC, DOC, &e. &e.)