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| *Ostroff, Fair and Company>>>Other Taxes |
Raise minimum wage? How will it help? |
If you raise the mimimum wage how is it going to help anyone? Everything will go up in price to cover the increase. Milk will now be $5 a gallon because the farmer now has to pay his worker more. And the farmer is not just going to give up his money, he will pass the increase onto his customers. So now those of us making more than min wage pay more for the milk and those making min pay more for it also. So who does it help? The gov is the only one that I can see that will make anything out of it in more tax money. Generally the benefits fall to the taxing authorities. It's a political ploy to garner votes and appear concerned for the "working class". When wages go up, prices go up because demand goes up. Simple Econ 101. The people who truely don't get it also believe in the lottery, publishers clearinghouse and government aid. They've never heard of Newton's third law. Their best comeback is "you're stupid" It doesn't help. Everything else goes up. besides how many people actually work for minimum wage. High school kids flipping burgers start at $1 or more over. And you are right in your thinking that the only winners will be the government..tax revenue. Good thoughts! The Goverment Sucks Using your logic would lead to the conclusion that nobody should be paid anything and then everything including milk would be free. Nice try. Its an obvious idea, pay people more and they will be better off..... The problem is it will only work for some not for many, once it happens for everyone then it will stop working so well. It is unfortunate that its the huge companies that need to just pay a little more and can afford to. (walmart saving money by not paying medical insurance and forcing the people to the sate program, sheesh, everyone else manages to pay it). Inflation ensuing isnt always a given, companies do other things to avoid the problem. For example hiring fewer workers and figuring out something else. (example, collect the shopping carts from the lot once every two hours instead of nearly constantly). Small businesses are even worse off and will then go hire workers as piecemeal contractors or under the table. Or just lay them off and do more work themselves for the very small. So now you wind up with a growing group of unemployed while the employed workers are making a little more. Sort of a take it all from a few poor and spread it out over the rest. Kind of silly if you ask me. I do not think the gov't makes any more money of it cause although the revenue goes up a bit for those that still work and get more, the base drops. And the govt has the same rules of inflation to follow so even if they do get more its worth less. I just don't buy that the gov't is trying to make more. I think it is idiotic misdirected left wing whackos that really believe they are doing good and will hold up the single mom who now makes $80 more a month and can afford to buy a package of vitamins for the poor little kids once in a while. They don't bother to find the people that lost their job and check in on them. Another thing, the farmer lobby has always been pretty good at keeping the farm workers out of the minimum wage pool, so you don't much have to worry about that. I will give you one thing, the gov't is very confused as whole. People earning the minimum wage will benefit, since the increase in prices due to higher wages for minimum wage earners (increase in minimum wage*proportion of cost due to minimum wage earning labour) will be very little compared to the increase in minimum wage, since few people earn minimum wage, they earn very little and labour is not the only cost for things. However, the big risk for minimum wage earners is not prices, but employment. If the minimum wage rises above the value of the work they are able to produce, they could potentially lose their jobs. |
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