Is Raising Minimum Wage A Bad Idea?

Is Raising Minimum Wage A Bad Idea?


There’s a movement in cities across the
country to raise the minimum wage to $15 per hour. One of the most prominent advocates
is former labor secretary Robert Reich who thinks that $15 per
hour should be the minimum wage for the entire country, this is a bad idea. Here are three reasons why,
first of all, it would kill jobs. One of the basic lessons of economics is
that when the price of something goes up, people buy less of it, so, if the price of pumpkin lattes rises you
can expect consumers to buy fewer of them. This law of demand also
effects the market for low-skilled workers,
raising the minimum wage means a higher cost of employing each worker which makes
workers less affordable than before. Our coffee shop won’t keep a worker at
a mandated $15 per hour if that worker’s efforts only result in $7.25
per hour in added revenue. Over the course of the year, a shop
that keeps such a worker full-time would lose $15,500, so instead,
it would eliminate that job and evidence shows that employers in fact do
respond in this way to minimum wage hikes. Recent research by economists
Jeffrey Clemens and Michael Wither finds that 1.4 million jobs
were destroyed in the late 2000s when the minimum wage rose across all 50 states
by an average of nearly 30%, and worse, those job losses were probably suffered
by the people who need jobs the most. This fact brings us to reason number 2, the minimum wage actually hurts
the people we most want to help. When the minimum wage rises, the workers
fired first and the ones hired last are those who employers judge to be
the least productive, the inner city teen from the lousy school district or
the immigrant with poor English will be fired before the suburban American
teen from the excellent school district. So those who are most disadvantaged, tend to suffer the most job losses, this
reality is compounded by the fact that raising the minimum wage causes
more competition for jobs. A supermarket job that once paid $8 per
hour draws more applicants when it pays $15 per hour, applicants who include
retirees, and people with higher education who reenter the workforce only
because of the higher wage. Because these people often have more
skills, they squeeze out immigrants and those from disadvantaged backgrounds who
are likely more desperate for the jobs, and certainly more desperate
to gain job experience. The third reason is that minimum
wage hikes aren’t necessary to give deserving workers raises. 96% of American workers today earn wages
higher than the current minimum wage, which proves that employers don’t just
pay the minimum that they’re obliged to pay by law. Employers respond to the value
that each employee adds, so they can retain the best talent. It’s expensive to train new employees and businesses don’t wanna lose good
workers to their competitors, so they raise worker pay voluntarily as
employees gain more skills and experience. But when government imposes such
raises by hiking the minimum wage, some of the least experienced workers
will not only lose their current jobs, they’ll find it incredibly
hard to find other jobs. In essence, the minimum wage cuts off
the first rung on the employment ladder. And it’s that first, lowest paying rung,
that provides the skills and experience workers need to
reach the next rung, and to continue climbing their
way to a better life.

100 thoughts on “Is Raising Minimum Wage A Bad Idea?

  1. You know what? Let's not to pay people. As you say, the problem on raising Minimum Wage is that is going to be less employs so, if we wouldn't pay anyone, it would be jobs for everyone. This video is a fallacy speaking on the mouth of companies and not of workers, and you know it.

  2. I'm sorry I can't agree with this… Raising wages to even combat with inflation is mandatory. If you worked a min wage job back in the 50's and 60's you are making more money than you would today just based solely on inflation. the 50's and 60's paid a living wage and had a dollar that actually had buying power…and you saw the rise of a solid and strong middle class.

  3. Not sure if it's true but I heard that reason #2 was the purpose of minimum wage in the first place. To keep the workforce open to higher-value individuals.
    In my experience, being paid more results in better performance. Conversely, if you pay someone peanuts, it's more likely that they will act like it.

  4. All raising it would do would require you to do more math. The cost of living would increase, you think corporations are just going to say "oh they're making more money now good for them"

    No it'll just make the money they already have worth less than what it's already is worth, and they'll compensate by raising the prices of whatever they're selling

  5. End minimum wage because it makes prices higher making it harder for everyone including the poor to afford things.
    Convince gov to let everyone have an acre of free tax free fertile land to grow a food forest and live on.
    End mandatory school and hsd and ged requirements and age limits.
    People should be able to learn how to do a good job they like so they can get a car and house before 18.

  6. There is no CAPITALISM there is no COMMUNISM or SOCIALISM the entire world is run by international bankers who want to keep everyone and every country in debt. They create debt by stealing promissory notes and converting them to cash. To a bank a promissory note is like a check and what they do is lend it back to the person trying to get credit. In a foreclosure the bank gets a free house. There is more money circulating in the economy that was created by BANK OF AMERICA than that which was created by the TREASURY/FEDERAL RESERVE. I am not sure about this but I believe that the FEDERAL RESERVE is quietly dumping toxic assets into the national debt, the debt now past 21 trillion dollars. One day we will get smart and dissect the public debt to see how much of the treasury securities is in the debt, and most importantly what type of currency are treasury securities purchased with? Are they purchased with exogenous money or endogenous money?

  7. Let me think…. if people have no money there is no economy. The only way to have an economy is for people to spend money. Otherwise you are going to have homelessness, new cars sitting in showrooms floors, store marking down everything and then closing down. Worst yet you are going to see people heavily debt and personal debt could bring down the economy, because an indebted person can not buy anything. Raising the minimum wage hardly touches the problem, but most of these reports on how the 15 dollars hurt the economy are typically one sided and do not show the entire picture.

  8. Raising the minimum wage declared how much money the poorest workers make. It creates more unemployed at first and encourages all prices including wages to rise, leaving minimum wage earners right where they started.

  9. Minimum wage would kill Jobs

    Actually not true in most cases as Statistics have pointed out also when it comes to the idea of prices rising the fact is as well that with a increase of the wage means an increase of the spending by the Working class due to being able to afford more items thereby are more likely to buy more things or dine out because they can afford it due to the higher wage (along with the increased labor demand by more People buying).

    Job losses occurred during the late 2000's

    A fact which you ignore is alot of Union Jobs were sent overseas by Corporations to increase personal profit for themselves and that is a factor in it so alot of good Jobs were lost because of free trade Policies which damaged the Working class and instead more lower wage Jobs opened up (those making around Minimum wage).

    A way to avoid this would have to been to increase protectionism and limit free trade for the fields to protect American Workers (so instead of Computers being made in China they get made in America).

    Minimum wage hurts the inner City Teen

    Actually the inner City Teen is far more likely to turn to Drugs and Gangs because the Economic situation is garbage and selling Drugs is far more profitable then a Minimum wage Job they could not survive on even in their Ghetto City and when it comes to Immigrants they already find a good supply of Jobs now but they are under the table (meaning no Minimum wage or Regulation due to the Employer using them).

    The 15 dollar an hour Job attracts the elderly

    In Libertariantopia yes because there is no Social Security and if they could not find a Church to support them they die.

    97 percent make above Minimum wage

    The point of increasing it is to make it into a Living wage which People can survive on. If it takes 15 an hour to survive but the Minimum wage is 8 and i make 9 then i won't be able to survive on that wage even full time work won't cut it.

    One thing is if you raise it to 15 more People will make Minimum wage as all those earning above X and under 15 will fall under it.

    Businesses don't wanna lose Workers

    Says someone who probably get money from Oil stocks and not realizing the real world where good Employees quit all of the time due to terrible pay/benefits. Of course in a Rational world Employers would not want to lose Employees but in the real world once the Owner realizes to keep the talent would require a pay cut they don't care and have them quit instead of taking that cut.

  10. No govt job should pay but minimum wage. It s welfare. Unnecessary and mace to society. Snd avoids the looming effect on society and the need to decimate major corporate mfg process into individual enterprise with gunslinger assemblage by major corporate manufacturer only

  11. The success of free markets isn’t just that they produce higher wages. They also deliver goods and services at a lower cost than in socialized countries and states. Raising the minimum wage forces businesses to raise prices. A rising cost of living has a disparate impact on low and middle-income individuals and families.

    The rich get richer and the poor get poorer. Most people don’t think about the impact a high cost of living has in causing income and wealth inequality. A 27-year-old here in Sutter County, CA could buy a PPO health insurance plan for $156 a month before Obamacare. A 27-year-old today will now pay $382 per month for an inferior plan. That’s an extra $2,700 a year for health insurance. We pay $1.00 a gallon more for gas than the national average, $35 a month more for food and $365 a month more for housing. These higher costs are so small in relation to the income of the wealthy that they have virtually no impact on their spending, saving and investment habits. The wealthy are free to continue investing and building wealth. By contrast, these added costs exact a heavy burden on someone earning $50,000 to $60,000 a year. People in that income bracket almost always find themselves living paycheck to paycheck with little hope of building wealth and saving for retirement or their children’s college education.

  12. If raising the minimum wage worked, we would have only had to do it once.

    The problem with raising the minimum wage is suddenly $15/hr becomes THE MINIMUM WAGE. So anybody currently living at $15/hr will now have to now live on minimum wage. The very thing current minimum wage earners are angry about having to do. Everybody else has to deal with the cost of this as well. Then those making $15/hr will be right back to being mad again… Meanwhile, the entire economy suffered to give them their fools wish.

  13. Why is gas cheaper in other states? Its simple supply and demmand! Thats how the people at the top make 💰…. $15 should only be lifted in certain states like California, Michigan, New York, etc…. Places where oviously inflation is so out of countrol that its effecting the productivity of the whole nation. There has to be a balance. Either way we are screwed because we still have the(Federal Reserve) until we eraticate this foreign entity of legal money Laundering we are doomed!

  14. $15 wage increase today is meaningless. Overall Jobs/Hrs are being shipped overseas or lost to higher technology. A minimum wage increase will only prolong this process/change/situation. Mentioned in the video 3:10 ''continue climbing'' Prices will catch up, competition for Hrs/Jobs will happen, below minimum wage workers will join in; all while, total number of Jobs/Hrs are being shipped overseas or replaced by higher technology. The solution is a Universal Income and the change of mentality that a job is a right, not a privilege.

  15. I wonder what the narrator's thoughts on automation are, i can almost guarantee you he isn't against it even though it would have 10 fold the impact that increasing the minimum wage would on people on the lower economic scale.

  16. If life was fair it would be ok
    Not talking fair as in everyone gets the same. fair as in we all pay taxes if we break the law we go we go to jail.
    But that’s not the fact.

  17. Dear God, of the vast literature that is available to these "protestors," nothing of merit trickled down to there worldview to even challenge their communistic indoctrination? Hayek, Sowell, Friedman, Becker, Spitznagel, Rothbard, Von Mises, Eugen Bohm,etc? Ugh, the pity that these fools can vote on my behalf. For the sake of brevity, here is the total knowledge above summed up by the always brilliant Epstein:
    https://www.youtube.com/watch?v=SlBV4mNEFUw

  18. You are wrong what he doesn't understand is people will have more money more money people have the more they will spend it so if everyone has more money more people will buy coffee from the shop making him more money then what it cost to increase the wage

  19. Lower the cost of government and people will have more money. IL has a 133 billion dollar deficit in unfunded pension debt. They keep raising taxes and fees which raises the cost of living.

  20. Is it a bad idea??? Uh, it don't do shyt😶you force employers to raise their wages, then they cut your hours so you still aren't making anything…

  21. Very well then, if raising the minimum wage to $15 is a bad idea, what do you say the minimum wage should be? $10? $12?

  22. What a joke minimum wage is no less than slave labor you make just enough money to barely pay your bills to have somewhere to live and to buy the cheapest food you can find. That's exactly what slaves were paid food and housing. all minimum wage workers should boycott working for at least three months and watch the entire economy collapse.

  23. Very nice story, to bad that is not what will happen in reality https://www.usnews.com/news/best-states/articles/2018-09-07/minimum-wage-increases-didnt-impact-jobs-in-6-us-cities-study-shows I propose an alternative end, let the people that keep spreading lies fall into the hole.

  24. I work for a drugstore that makes more than 600 million a year.The company has 250 employes and the pay us 7.25 per hour how can you explain that?

  25. Here is something that most people don't think about. When you raise the minimum wage, prices will rise to adjust for the added expense of labor. Now ALL people are paying more for goods. Those that made above minimum wage did not receive a pay increase. Therefore, for all practical purposes, everyone that was making more than minimum wage has now just received a pay cut. Worse, those that were only slightly above the minimum wage may now have less buying power than before the minimum wage was increased.

  26. Keep the government out of my business, and I'll keep my business out of the government.

  27. So economics shows us that when the supply of some product goes up, demand (and the price of that product) goes down until they once again reach equilibrium.

    Well, labor is a product available in the labor market.

    So wages have stagnated for over 50 years. I guess that puts it sometime during the 1960s.

    Did something happen during the 60s that opened the floodgates on the labor market? And where did all this extra labor come from?
    🤔
    Golly I'm stumped. It's a Scooby Doo mystery!

  28. High wages leads to increased productivity, Chomsky shows this

    What's happened is the tax burden has shifted from companies to the workers since the 60's

    Companies used to train workers to increase their productivity, now they want to pay them as little as possible and shift the tax burden to the worker

    If employers truely valued workers them they would be happy to give more for a more productive worker but they don't and won't, they just want to pocket the difference.
    Employers are in cohorts with government in keeping the tax burden on the worker, keeping unemployment rates high and reducing employment laws to keep a slavery class

    Higher wages drive productivity as Chomsky shows but companies have become lazy and want free workers and therefore have lost the incentive to have their workers drive productivity and opt for cheap labor instead

    Productivity has increased through technological innovation but overall pay rates have remained stagnant for 40 years in real terms. This is not a shared economy anymore, exploitation is still with us and socialistic influences in government is rife

  29. And most of your overly privileged millennials are the one obliged to this moment. I say… Give it to them and let them face economic mother nature.

  30. A minimum wage is a no brainer. The alternative is a race to the bottom.I notice those against it aren't on a minimum wage.

  31. Already this video assumes that the prices of items would go up due to a higher minimum wage but that's proven it to not be true. At most it would go up a couple of cents. I think most people are willing to pay you a few more cents if it means I have $15 an hour minimum wage.

  32. s.korea recently raise its minimum wage by 30% in 2 years. in 2 years, we loss our jobs, the gap between rich and poor is widened, our goverment want to spend more money to help these jobless people. simply put, we fucked.

  33. Eliminate minimum wage entirely and introduce Universal Basic Income from a conservative-capitalist perspective: I think UBI might actually be necessary if we can somehow finance it at the expense of a number of existing welfare programs. I think the UBI should start to fade out only when it becomes 15% or less of a person's annual income, and fade out from there. The UBI should have some modifiers to it: Productivity, and Dependence.

    • Productivity is a modifier that will increase the UBI if you are a student and if you are employed (Both stacking together), and-

    • Dependence increases the UBI based on Disabilities and Children. The first two children will increase the UBI, the third will not grant an increase, and the fourth will apply a penalty effectively halving the benefits of the second child.

    This is to eliminate baby farms of low class people who pop out babies for benefits and rely on those benefits. If you don't meet income requirements to give those children a healthy life… You'll have a warning period (Unless it's a significant problem already, based on CPS observations and legal council) before some or all children would be given to foster care or worked with relatives to give them to family members. Within that warning period you'll be recommended to programs to help connect people with jobs.

    https://i.imgur.com/hmMahpL.png

    If you are found to spend UBI on drugs or alcohol, you'll receive penalties to the UBI total and be recommended to job and recovery programs until the point that you may be institutionalized into a recovery center if the behavior persists.

    It's intended to work at a point where UBI without modifiers will be enough to be able to afford food and extremely cheap shelter opportunities. But being a productive member of society investing in your future and supporting the next generation adds to that baseline to actively incentive moving forward in life and getting to a point where UBI isn't needed anymore some day, but not any time soon, it will only phase out once its impact will be negligible.

    Of course, now is where the magic words come in… "Okay, but how do we fund it?"

    I can only give ideas on how to help support it, with any or all of the below:

    A) Charity donations. Openly advertise donations towards UBI, and even strong arm it a little where some types of platforms advertise UBI donations in their programs or user interface. For example Humble Bundle would always have a donation slider for donating towards UBI, and offer tax incentives for charitable donations towards UBI.

    B) Cutting any number of existing welfare programs to be replaced by this.

    C) Red Eagle labels on purchased goods. Inject UBI support into the economy by introducing a Red Eagle label on goods and services. Red Eagle products are directly more expensive in the range of cents on the dollar to a whole dollar. Excess cost goes straight to UBI. The selling of purple ribbon products is voluntary but the seller gets tax benefits for doing so, and we could find a way to get citizens tax benefits for purchasing them as well which might be simply working with banks to log such purchases and writing off the excess amount spent in some way, and/or a manual system of scanning labels and logging them yourself to be submitted.

    D) Voluntary Tax bracket- When doing taxes, you can willingly write in donations towards UBI right there included in the paperwork, perhaps with some benefit to doing so, or partially including it as tax payments.

    E) Unspent UBI could count towards the next UBI stipend. ie; If you get 1,000$ a month and still have 200$ left over, you get 800$ the next month to top it off at 1,000$. This would most easily be done if UBI is a separate system from standard banking accounts but more like a separate card you can swipe or transfer money from, and you could transfer money TO it from other accounts and that transfer will automatically be counted as a charitable deduction.

    However if you really need the money there is no penalty to withdrawing all the money before the month ends or even as soon as you get it, allowing you to save up.

    F) AI Proxies- Automation in industry is taxed where each robot in service is effectively given its own small paycheck, that paycheck goes to the UBI pool. This effectively means a few robots out there are working on behalf of a person by proxy, but it's distributed as a percentage of the UBI people receive.

    G) Financial Triage- UBI payments will be distributed in waves applying to those with least to most financial stability. Those with less money get UBI first, and if there isn't enough money in the UBI pool then those who need it the least will take the hit that month. So Very low income people would get UBI on the 1st of the month. Low income people could get it on the 8th. Low-Middle income people on the 15th. Middle+ on the 22nd. From the 1st of the month on, the UBI pool is locked in place and over that month the next UBI pool is being filled, untouched by the ongoing distribution of the previous pool.

    And lastly:

    H) Federal budgeting and taxation as a last resort.

    Extra Lastly:

    H.5 / I) Foreign Negotiations- We might negotiate deals with other countries for financial backing in funding UBI. Less lending and more selling of services. Such as establishing US bases there, trade agreements, treaties, and so on.

    The benefits for managing this are HUGE and far reaching, and can solve ALL major problems the right faces.

    A) It eliminates the wellfare trap.

    B) It takes power away from the Left, who buy votes through their wellfare farms.

    C) It encourages people to help themselves.

    D) More people getting jobs and/or education.

    E) Encourages the Nuclear Family.

    F) Slows the society degridation of marriage.

    G) Encourages Americans to breed and maybe even out demographics.

    H) Disincentives layabouts using wellfare for drugs and addiction.

    I) Benefits Veterans who could qualify for a separate modifier for their service, and separately benefiting if they are disabled as well.

    J) Works heavily through the community itself, increasing social bonds through a charitable atmosphere. Conservatives (Of which I include myself) always suggest that charity should be involved, so here it is. Helps kindle a national identity.

    K) It should invigorate the economy as more people are spending more money, more people are seeking opportunities, more people are just doing more all around.

    L) It should be further discounted or paid for itself by the massive cuts in spending used to fix the problems caused in the first place by the things this would largely solve and things like more people making more money resulting in paying more taxes than they would have if they were still poor, not because the UBI itself is taxed directly, but because they're pushed to seek jobs and education, and building families who then contribute as well.

    AND then, the reasons why people generally oppose UBI:

    A) It makes people lazy.

    – My conservative-capitalistic take on UBI does the exact opposite and is deliberately designed to encourage productivity. UBI doesn't have to be a static lump, I use to oppose UBI myself until just this week when a light flipped on and I realized that UBI can be a system that encourages productivity and healthy life styles and meeting life goals.

    B) It's expensive.

    – Yes, it is, anything worth the value is. In this case I propose a lot of suggestions that all work together to help take a massive chunk out of the cost if not completely fund it. It's an investment in the health of the nation, and not just poverty but all the reasons I mentioned. It should be an incredible boon to Conservative goals and takes votes away from the left. If the right doesn't tackle these issues that the left is soaring on… It's not going to end well for us.

  34. A 'Minimum wage' is a threshold to at the very least be able to make ends meet, and to protect the most vulnerable in society from being unscrupulously over exploited by tyrant employers — such as the 'learn-liberty' mafia mob!

  35. A 'Minimum wage' is a threshold to at the very least be able to make ends meet, and to protect the most vulnerable in society from being unscrupulously over exploited by tyrant employers!

  36. There is a very simple fix for the wage issue. Institute a maximum wage that says the highest earner in a company can not make more that 10 times that of the lowest earner. If the lowest is $30k a year that means the highest can only be $300k a year. Now the minimum wage fixes its self. If the CEO wants more money then they have to first raise the other works wages before he will get a raise. Greed is the problem. Also remember the US is an Oligarchy meaning when you complain about government not working for you, what you may not realize is that your anger should be targeted towards those that control the politicians. In other words the CEOs of America.

  37. I mean we are going to have to raise wages at some point. Prices are only going to go up and in about 5-6 those who work minimum wage may have to choose between food and shelter.

  38. Go back to Europe with ya free healthcare and livable wages. My grandpa made $7/hr in 1950s & supported a family of 12. Why can’t these millennials do it in 2019

  39. This is all lies from the rich. Look up a real economist with much more experience like RICHARD D WOLFF.

  40. Dude Jeff Bezos was pressured by Bernie Sanders to raise his wage to 15 an hour minimum… I think he's sitting pretty with his almost trillion dollars.. And he paid 0 in taxes like wtf?? If wages kept up with inflation it would be at 33 dollars an hour like what are we doing??

  41. You can save money on minimum wage – I've done it. I've shared sample budgets even … proof: https://youtu.be/XItdiXkkiYQ

  42. I completely agree with everything in this video. The one thing he left out is that people already above $15 will see no substantial increase in pay. Right now I make $20.50 an hour. I have been at this same job for 15 years and worked hard learning new skills, also making sure I was on time everyday, just so I could get ahead. Now if they raise minimum wage to $15 an hour I will only be making $5.50 more than someone with no skills, and no job history. I have a family, a car payment, and mortgage to pay for. There is no way I should be that close in wages as say a 16 year old with no responsibilities. Everything will go up in price to compensate for the huge spike in minimum wage. Their well being will stay about the same, while mine will get much worse.

  43. Psychology research also found that giving people a raise, the effect only lasts about 1 month before people complain again.

  44. You also didn't mention the effect of raising minimum wage on the rest of the workers. If you work a job that pays, say $17 an hour with a current min wage of $9, you are making $8/hour more than minimum wage. If you raise the min wage to $15, you are now only making $2/hour more, and your purchasing power decreases by 76%. As consumer demand rises due to increased min wage, so too do prices to match, and the standard of living of all of those above min wage decreases accordingly. Hence why we continue to see unions go on strike demanding more pay as well. Thus, raising min wage doesn't just boost those at the bottom (which as you show, it doesn't even do that), it also drops everyone else down, while simultaneously increasing labour costs and reducing margins for businesses exponentially.

    And for anyone thinking so what…businesses make huge profits anyways, wrong. Restaurants average about 2% profit margins. An increase in wages across the board is literally the difference between turning any profit, and eating a loss. When we raised our min wage to $15 an hour here in Alberta, Canada, one city, Calgary, with just over 1 million people, saw over 30,000 restaurant jobs lost overnight.

  45. Everyone in the comment section either doesnt work or doesnt work minimum wage if it increases yes inflation will increase but not enough to counter the wage increase yes it will also want to make employers have less employees but it wont achully because they will be getting money back because there will be more people with more money and when someone gets more money they tend to spend it so the money will go right back into the companies

  46. Prices would indeed rise, but wouldn't those with less skills have more money by virtue of the $15/hr to compensate for this?

  47. Can't the effects of Amazon's wage hike be studied for a year as a microcosm to provide at least some empirical data?

  48. Here’s a plan. Let’s institute a minimum wage and create a bureaucracy to administer it. Then, let’s ignore the adverse impact of job loss because we lack the political will to correct our errors. Then let’s create, oh, I don’t know, Targeted Jobs legislation which is designed to redistribute income and to compensate employers for hiring back those same employees they just got through firing. And don’t forget the bureaucracy to administer that. Then, let’s approve budget increases in entitlement programs so the workers just displaced don’t starve. And then we’ll expand that bureaucracy as well. Then, since we have destroyed the mechanism that creates entry into the economic system at the lowest levels thereby destroying poor neighborhoods, we’ll create Economic Opportunity Zones, redistribute more income, and don’t forget the new bureaucracy to administer that. Oh, wait……we already did all those things. Remind me again how that’s working out?

  49. Minimum wage needs to track with inflation. Without this, paying someone the same amount of money as you did the year before is a pay cut. Don’t want minimum wage to increase? Eliminate inflation.

    The end.

  50. The problem with raising minimum wage is the money you already have saved will have less buying power. For a basic example lets take a Hershey chocolate bar you can get a "king size" for 1 dollar. If the minimum is raised that means Hershey would have to either shrink the bar or raise the price to still make a profit. The same would go with all the other products out there. Minimum wage is not something that is made to live off of. College needs to be made more affordable for people back in the 60s – 70s you could pay for college just working a minimum wage job. It also should be easier for people to start and run their own businesses. These businesses should have some cuts to help them be protected from big corporations. For example there used to be 2 pet stores in my area until petco opened up a store in 2011 and it ran those places out of business, same thing with walmart and general stores in my town. Petco and Walmart basically have a monopoly in my area now. My final idea is to make the rich pay more in taxes since most of the time they have a huge sum of money just sitting around not stimulating the economy in the slightest.

  51. Changing the amount doesn't change the meaning of the word "minimum." You're still at the bottom, even if we make it 50 dollars an hour.

  52. If your goal is to work a minimum wage job for life, Bernie's your guy. If you think you can learn skills and aspire to even slightly more…then not so much.

  53. I worked for years becoming skilled in the trades to make 16$ an hour if they make some other dude in my shop 15$ an hour who sucks i can only see them firing him and making me work alot more……also if i'm working in a hard skilled job for 15/16$ an hour and now every one everywhere gets 15$ couldnt i just go find an easier less skilled job for the same pay? WHich will just hurt the people who would have done that job….

  54. You should not expect the employer to give you a raise. You give yourself a raise but becoming more valuable, moving to a different company that outbids your current, or with the threat of moving your current company gives you a raise to keep you happy.

  55. The bissness owners are not stupid , they're going to cut working hours , employees , or simply replace them Whit machines or raise the merchedise or service to us , politicians never worked a regular job they're use to get money under the table as corruption .

  56. I showed this to my mom, who still has a Bernie 2016 bumper sticker, and she flipped out that ‘’her child is an alt right nazi’’.

  57. Here’s a common liberal argument: ‘’But those big companies have plenty of money to pay them; they’re just being greedy!’’

  58. Bullshit. You guys are nothing but whores being paid by billionares. Specificly Charles Kock, James Pope, Chris Ruler, and more. Workers of the world unite, we have nothing to lose but our chains.

  59. "Low demand " is a better way to put it then "unskilled " you could be highly skilled at something nobody needs and still be offered the minimum wage

  60. I literally explained this to someone yesterday and they told me i was brainwashed when it's basic economics 101

  61. And what about the people who have been making $15, for the last decade, a good, loyal, hard worker, at the top of that jobs pay scale. The new person starts at $15, but no reward for the loyal worker? Is that good or fair? Our money is being undervalued. More importantly, we are being undervalued .

  62. How is it a bad idea to increase minimum wage if inflation due too the fed printing tones of money a bad idea companies look at the number of money rather than the actual value of the money in the economy…. there should be an effort to collaborate with the fed and the government too create laws that force cooperations too increase the minimum wage

  63. If you raise the minimum wage then the prices would increase. This would affect homeless and retired the most. Let’s assume that a sandwich is currently $2. If it increases by 25% the total price would be $2.50. As a result, you could only get 4 sandwiches instead of 5. It would also make make companies invest more into automation because hiring employees aren’t worth it anymore. This would make many people loose their jobs while the prices for goods skyrocket. Inflation would also increase so retired people can’t live off of what they saved up, as a result, many people would be forced to delay their retirement. Savings would be worth less while people struggle to find a job. It could lead to another Great Depression.

  64. Too many people don't understand basic economics, and worse, too many don't want to. They'll continue to clamor for economic fallacies like minimum wages. Good intentions aren't enough if the practical results of your good intentions do harm.

  65. Minimum wage increase will raise the price/will raise the rent/ will lower hours or eliminate employees, businesses automate, people end up homeless and get on wlefare again…….

    Liberal democratic and progressive policies do not work, socialism does not work.

  66. You can raise wages by law but not value…in the end the buying power of dollars is tied to the actual goods and services out there…if wages double but prices also double that's not a raise…and any savings you have will only have half of the buying power…you can print or legislate money but not WEALTH…and by the way interesting how only 4% of workers are paying minimum wage wich begs the question why aren't companies just paying the bare minimum by law?I heard that most of minimum wage earners live in households with annual incomes of 50k or more meaning they're teens living with their parents or a wife with a part time job…just another leftist nonissue to get your votes

  67. Raising minumum wage will only give people who work hourly jobs a sense of security that they're getting paid more but in reality it only makes a small diffrence and will get deducted on your taxes everytime you cash your paycheck. Also if the minumum wage goes up expect prices to go up as well. I.e. gas, grocerices, rent, life necessities.

    Life isnt always easy/fair and times get hard under different circumstances but a simple lifestyle, living humble and learning how to save and manage our money and limiting our expenses instead of wasting it on stupid things we dont need can make a better difference.

    Anyone can blame and get mad at the goverment, politicians, etc.. But it wont get you anywhere and wont make a change but what we can change is the way we live now so we can live like no one else tomorrow..

  68. anyone who believes companies will seek out the best workers in low skill jobs and offer to pay them more is either delusional or has never worked for minimum wage.
    It's a bullshit argument that is completely unsubstantiated.

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