View Poll Results: Should min wage be removed?

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  • Yes

    28 31.46%
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Thread: Should min wage be removed?

  1. #51
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    Re: Should min wage be removed?

    Quote Originally Posted by The_Patriot View Post
    Do you run a multibillion dollar company? If you don't then you have no idea what the top employees are worth.
    IF those at the top are honest and decent, they would know what they are worth better than us, BUT, I have read and concluded,over the years, that many "executives" are worthless...There is no denying this. These people are men, just like the union workers, down to the door sweep, and subject to the same shortcomings..(ignorance and fear and greed)
    I am in full concurrence with Liblady's assessment.

  2. #52
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    Re: Should min wage be removed?

    Quote Originally Posted by The_Patriot View Post
    You're under the false asumption that a CEO and an entry level worker have the same basic job functions and responsibilities. This isn't the case since those at the top of the company are responsible for all of the employees under them and if they fail to do their job properly they affect everyone that is below them. An entry level worker doesn't have the same effect, since their decisions do not impact the company to the same degree as the top salaries and definitely do not impact anyone below them since there isn't anyone there.Rather obvious..
    Its high time that these so-called upper classes dismounted from their high horses and learned to respect those "below" them.. I believe that I have know floor sweeps who could contribute to the health of a company, if only the CEO had any sense.

  3. #53
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    Re: Should min wage be removed?

    Quote Originally Posted by earthworm View Post
    Its high time that these so-called upper classes dismounted from their high horses and learned to respect those "below" them.. I believe that I have know floor sweeps who could contribute to the health of a company, if only the CEO had any sense.
    Yeah like the former CEO of Home Depot, that ran the company into the ground and still recieved $18 million to be fired.

  4. #54
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    Re: Should min wage be removed?

    There is a reason labor unions began in the first place. Capitalism encouraged company executives to pay people more but only in a few cases. The reasons for that are not because of the 'free market' but trying to avoid the consequences of not doing so. Take for example the Ford Company. As revolutionary as they were in production methods and treatment of employees, by the 1920s they still had people working in their factories at wages which hadn't changed in over a decade. When workers began demanding pay raises to keep up with changing times, inflation etc, the response came in the form of government supported violence, union busters etc. Workers in turn responded by lock-outs and massive rallies. If you take a look at the global history of labor movements much more damaging consequences happened to workers in South America who tried to unionize. Capitalism, because it is a system where the only things that matter are supply and demand, is not a system where one could expect the 'free market' to actually benefit the living standards of the majority in a population or even a sizable percentage unless measures are taken to protect workers. This leads to me believe that there needs to be a government imposed minimum to what should be paid for an honest day's work also because setting such a standard(and changing it as time goes by) diffuses any kind of social upheaval which would eventually come.
    Last edited by Hatuey; 10-07-10 at 01:25 PM.
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  5. #55
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    Re: Should min wage be removed?

    You people are looking at this backwards. People have a marginal level of productivity. Period. The existence or non-existence thereof does not change that fact. A minimum wage merely makes it illegal to hire those whose marginal level of productivity is below the minimum wage (unless the company decides to hire them at a loss, which would be stupid and not a substantial occurrence).

    But what of the claim that supermarkets and fast-food places won't just close because they can no longer hire checkers and bag boys and shelvers, etc. To stay in business, won't they have to keep these people employed? Yes, but you're ignoring something. The law of decreasing marginal productivity states that the more of something you have, the lower your rate of return. So what does this mean? Well without a minimum wage, you'll have a certain number of businesses. With a minimum wage, because of diminishing marginal productivity, you won't see supermarkets and other businesses expand as they could. The minimum wage raises costs, and so if profit can't keep up with cost, then it's not going to happen. Raising minimum wage raises costs, so raising minimum wage decreases production.

    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: Should min wage be removed?

    Quote Originally Posted by tlmorg02 View Post
    Yeah like the former CEO of Home Depot, that ran the company into the ground and still recieved $18 million to be fired.
    Better to get rid of him at $18 million than keep him hired where he can cause more damage to the company than the $18 million payoff.

    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

  7. #57
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    Re: Should min wage be removed?

    Quote Originally Posted by phattonez View Post
    You people are looking at this backwards. People have a marginal level of productivity. Period. The existence or non-existence thereof does not change that fact. A minimum wage merely makes it illegal to hire those whose marginal level of productivity is below the minimum wage (unless the company decides to hire them at a loss, which would be stupid and not a substantial occurrence).

    But what of the claim that supermarkets and fast-food places won't just close because they can no longer hire checkers and bag boys and shelvers, etc. To stay in business, won't they have to keep these people employed? Yes, but you're ignoring something. The law of decreasing marginal productivity states that the more of something you have, the lower your rate of return. So what does this mean? Well without a minimum wage, you'll have a certain number of businesses. With a minimum wage, because of diminishing marginal productivity, you won't see supermarkets and other businesses expand as they could. The minimum wage raises costs, and so if profit can't keep up with cost, then it's not going to happen. Raising minimum wage raises costs, so raising minimum wage decreases production.
    Raising the minimum wage gives people more money in their pockets to buy stuff causing production to INCREASE.


  8. #58
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    Re: Should min wage be removed?

    Quote Originally Posted by pbrauer View Post
    Raising the minimum wage gives people more money in their pockets to buy stuff causing production to INCREASE.
    So if we made minimum wage $1 million, then we'd increase production by so much that we'd all be rich!

    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

  9. #59
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    Re: Should min wage be removed?

    Should min wage be removed?

    No it should not be removed. Removing it will only lower starting wages.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

  10. #60
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    Re: Should min wage be removed?

    Quote Originally Posted by jamesrage View Post
    Should min wage be removed?

    No it should not be removed. Removing it will only lower starting wages.
    People don't tend towards the job where they can get the highest pay, all other things being equal?

    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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