View Poll Results: Results of Raising the Minimum Wage

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  • Greater buying power

    14 25.00%
  • Greater unemployment

    32 57.14%
  • Less unemployment

    7 12.50%
  • Higher prices

    36 64.29%
  • Less competitive on world markets

    25 44.64%
  • Benefits low income workers

    20 35.71%
  • Places people in higher income tax brackets

    7 12.50%
  • More jobs go overseas

    32 57.14%
  • More businesses close

    30 53.57%
  • Benefits middle income workers

    5 8.93%
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Thread: Effects of Minimum Wage

  1. #51
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    Re: Effects of Minimum Wage

    This poll is stupid.

    Greater buying power cannot be determined without knowing inflation and its corresponding rate to wage increases.

    Greater unemployment is also indeterminable without knowing the economy at the time. When fast food places were offering well above minimum wage per hour during 2005, they still couldn't get enough labor. Would raising the minimum wage when the bottom paying jobs are already over minimum cause any unemployment affects? Unlikely.

    Less unemployment - See above

    Higher prices is also indeterminable without knowing the total cost and margins. Just because you have slightly higher minimum wage costs doesn't equate to automatic increases in prices. Furthermore, in reality, there are a great many factors influencing your total costs.

    Less competitive on world markets - Questionable. Generally the stuff we export isn't being made or produced by minimum wage workers. Do steel workers get paid minimum? No. Do IT network software programmers get paid minimum? No. Raising minimum wages when the industries of exports are already paying often double, triple or quadruple minimum per hour isn't going to change anything.

    Benefits low income workers - That's probably true regardless of any other circumstances, barring reductions in benefits to make up for the minimum.

    Places people in higher income tax brackets, I'm not even sure how that would work for people who rely upon minimum. Moving a dollar up on a $7.5 minimum on a 60 hour per week 52 week work year doesn't move someone up a tax bracket. For a teenager, it may bump them from not having to file to having to file.

    More jobs go overseas - Again, not the industries that are paying minimum as it is.

    More businesses close - See above

    Benefits middle income workers - Depends. If it's a side job, sure. Holding all things constant though, it should raise the cost of things like fast food though, therefore reducing benefits to middle income.

    If you really want to discuss the real cost of labor, it's in the benefits, the insurance and the associated taxes of hiring workers. Health insurance is unbelievably expense, as are worker's comp and various associated costs that aren't being paid directly to employees.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  2. #52
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    Re: Effects of Minimum Wage

    Quote Originally Posted by obvious Child View Post
    This poll is stupid.
    A libertarian posts a poll to school us on the effects of a minimum wage, and you only now realize it's stupid?

  3. #53
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    Re: Effects of Minimum Wage

    Quote Originally Posted by Redress View Post
    A libertarian posts a poll to school us on the effects of a minimum wage, and you only now realize it's stupid?
    I didn't see this thread before. Diehard libertarians are pretty ignorant of reality. But that's pretty much true of all diehards. When you let your ideology become reality rather then looking at reality, you get dumb arguments.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

  4. #54
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    Re: Effects of Minimum Wage

    What that statement reduces to is:

    Quote Originally Posted by obvious Child View Post
    I didn't see this thread before. Diehard [scientists] are pretty ignorant of reality. But that's pretty much true of all diehards. When you let [science] become reality rather then looking at reality, you get dumb arguments.

  5. #55
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    Re: Effects of Minimum Wage

    Quote Originally Posted by obvious Child View Post
    Diehard libertarians are pretty ignorant of reality.
    If this isn't trolling then I don't know what is.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  6. #56
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    Re: Effects of Minimum Wage

    Quote Originally Posted by phattonez View Post
    If this isn't trolling then I don't know what is.
    Almost anything taken out of context is bad. Take in the rest of the text, and he's not directing it at just extreme libertarians, but to all extreme groups.
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  7. #57
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    Re: Effects of Minimum Wage

    Since when did libertarianism, the ideology that the constitution follows, become extremism?

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  8. #58
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    Re: Effects of Minimum Wage

    Quote Originally Posted by phattonez View Post
    Since when did libertarianism, the ideology that the constitution follows, become extremism?
    Extremist might be a bit of an exaggeration. Fringe might be better. Very few people agree with a libertarian platform.

  9. #59
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    Re: Effects of Minimum Wage

    Quote Originally Posted by Redress View Post
    A libertarian posts a poll to school us on the effects of a minimum wage, and you only now realize it's stupid?
    Actually he's not arguing any different from the neoclassical or mainstream economic position about prices and price-fixing. Well microeconomic anyway, the marcoeconomic one is a little more complex.

    It is simply the neoclassical or mainstream idea of prices that if you fix the price of a good higher than it otherwise would have been it will lead to excess supply.

    Of course this position is not completely accurate or exhaustive for various reasons but he is not out of step with a lot of mainstream economic thought.
    Last edited by Wessexman; 09-27-09 at 03:26 AM.
    "It is written in the eternal constitution that men of intemperate minds cannot be free. Their passions forge their fetters." - Edmund Burke

  10. #60
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    Re: Effects of Minimum Wage

    Quote Originally Posted by Redress View Post
    Extremist might be a bit of an exaggeration. Fringe might be better. Very few people agree with a libertarian platform.
    I wouldn't say very few.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

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