On the other hand minimum wage establishes a value for a job regardless of its value to the customer, the company, or the value of that employee which again you cannot see. It is the market that should determine what wage an employee should be paid not the federal govt. It is the market that will determine the definition of fair as well unless you have no problem paying $10 for a Big Mac so that a McDonalds employee can get what you perceive as fair.
It is always so easy for someone else to spend some other person's money
The quality of the employeeMusicAdventurer;1062076641]People like who? Who is to say its an overpayment?
Profit really bothers you doesn't it? Why do you care? How does a company's profit affect you. Name for me one major corporation that pays its workers minimum wage? As I stated, start your own business and learn what it costs to run it the pay the employees whatever you want.Companies can chose how much profit they want to hoard and how much they want to share with the people that make their company possible (i.e. their employees). Economic principles work in a perfect world. It gets messy when you add in the humanity factor. I think that is where you are running into problems. In the real world, people in society's don't like to be taken advantage of. In the real world, people become very, very greedy. In the real world, humans exist. This means imperfection. The challenge is applying economic principles with thinking, feeling, breathing humans, who have a right to decide what is and isn't acceptable in their society.
What a company does with its profit is none of your or my business. Companies aren't in business to employ people, they are in business to make a profit, hiring people helps them do that.1st of all, remember that if it weren't for other people, companies wouldn't be able to hoard large sums of money. If it weren't for certain governmental protections, this wouldn't be possible either. If it weren't for certain services this wouldn't be possible. And most of all, if it weren't for the use of artificial wealth (paper money, digital money, gold, silver, etc.) such great hoarding wouldn't be possible. Before the use of such technology, people couldn't hoard wealth in the same way. If one were to hoard a barn full of apples that they were somehow able to pluck from the trees before anyone else could, those apples would go bad and all their effort to gain wealth would have been for not. So just remember, massive wealth accumulation is not really a "natural" phenomena. Government helps keep things natural, so to speak.
Here's the "real" unemployment rate (U-6)
I haven't seen any evidence for any major decline in unemployment in the last couple of months, so this is pretty much indicative of the fact that we have an unemployment rate that is still twice as much as 2007 levels.