View Poll Results: Should min wage be removed?

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  • Yes

    28 31.46%
  • No

    61 68.54%
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Thread: Should min wage be removed?

  1. #61
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    Re: Should min wage be removed?

    One of the unintended consequences of minimum wage is that it pushes younger workers out of the labor force by the removal of entry level jobs. The younger workers are removed from the labor pool because businesses want to hire people with experience and younger workers do not have it. Minimum wage also impacts minorities more since minorities are often at a disadvantage in the market for entry level jobs. History of racism plays a role in this as well due to the stereotypes that certain races are lazy etc...

  2. #62
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    Re: Should min wage be removed?

    Quote Originally Posted by The_Patriot View Post
    Your calculation is flawed since you assume that every minimum wage worker works as a full time employee. You should have just calculated based off of one hour of work.

    @7.50/hour the burger (1.09)=6.8% of the hourly wage
    @3.15/hour the burger (.59)=5.3% of the hourly wage

    It's roughly the same percentage wise, but it does show a distriburbing trend that the higher minimum wage goes the less buying power the earner has.
    1 hour? Who works 1 hour a week?

  3. #63
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    Re: Should min wage be removed?

    Quote Originally Posted by megaprogman View Post
    1 hour? Who works 1 hour a week?
    1 hour is the baseline for figuring out the change in prices.

  4. #64
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    Re: Should min wage be removed?

    Quote Originally Posted by The_Patriot View Post
    1 hour is the baseline for figuring out the change in prices.
    Actually, its the amount one makes per year that is used for that determination, also most people work full time, so its reasonable to use a standard week.

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    Re: Should min wage be removed?

    Quote Originally Posted by megaprogman View Post
    Actually, its the amount one makes per year that is used for that determination, also most people work full time, so its reasonable to use a standard week.
    Source for this claim that most workers work full time. My example was not to be an extensive study on the correlation between prices and minimum wage. It was an example of how minimum wage hasn't done a damn thing except make people poorer due to the increase on the price goods since minimum wage acts as a glass floor.

  6. #66
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    Re: Should min wage be removed?

    Quote Originally Posted by The_Patriot View Post
    Source for this claim that most workers work full time.
    Lets just use the average. However, we are in a recession, so normally hours would be higher, so it tilts to your favor. But I am feeling charitable today.

    The average workweek for all employees on private nonfarm payrolls was unchanged
    over the month at 34.2 hours. The manufacturing workweek for all employees in-
    creased by 0.1 hour to 40.2 hours, and factory overtime was up by 0.1 hour.
    Employment Situation Summary

    34.2*7.50= 256.5 1.09/256.5= .42%
    34.2*3.25=111.15 .59/111.19= .50%

    Quote Originally Posted by The_Patriot View Post
    My example was not to be an extensive study on the correlation between prices and minimum wage. It was an example of how minimum wage hasn't done a damn thing except make people poorer due to the increase on the price goods since minimum wage acts as a glass floor.
    Except it didn't do that.

  7. #67
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    Re: Should min wage be removed?

    Quote Originally Posted by megaprogman View Post
    Lets just use the average. However, we are in a recession, so normally hours would be higher, so it tilts to your favor. But I am feeling charitable today.

    Employment Situation Summary

    34.2*7.50= 256.5 1.09/256.5= .42%
    34.2*3.25=111.15 .59/111.19= .50%



    Except it didn't do that.
    Claiming that it didn't do it and proving it are two different things. Are hamburgers at McDonalds still 59 cents?

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    Re: Should min wage be removed?

    Quote Originally Posted by pbrauer View Post
    Hell no it shouldn't be removed, the minimum wage protects unskilled people from being taken advantage of. The is a minimum price for human labor, if you can't afford to pay minimum wage you probably shouldn't be in business.
    So all the farmers and builders that use illegals should go out of business?
    From the ashes.

  9. #69
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    Re: Should min wage be removed?

    Quote Originally Posted by The_Patriot View Post
    Claiming that it didn't do it and proving it are two different things. Are hamburgers at McDonalds still 59 cents?
    I showed that the price of a burger did not rise as fast as wages. You are free to counter my data with some of your own if you wish.

  10. #70
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    Re: Should min wage be removed?

    Quote Originally Posted by megaprogman View Post
    Actually, its the amount one makes per year that is used for that determination, also most people work full time, so its reasonable to use a standard week.
    Not true when considering minimum wage workers. Many students will work at minimum wage part time and many full time workers supplement their income with part time MW employment.
    From the ashes.

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