[Debate] Minimum Wage hurts the very people they are trying to help

[Senju Bean]

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Fact from article:

About 85 percent of the studies "find a negative employment effect on low-skilled workers." A 1976 American Economic Association survey found that 90 percent of its members agreed that increasing the minimum wage raises unemployment among young and unskilled workers. A 1990 survey found that 80 percent of economists agreed with the statement that increases in the minimum wage cause unemployment among the youth and low-skilled. If you're looking for a consensus in most fields of study, examine the introductory and intermediate college textbooks in the field. Economics textbooks that mention the minimum wage say that it increases unemployment for the least skilled worker.

Debate.

 

[Obítō1]

Intresting Thread XD

 

[Dantee]

That's only because people who run the company are greedy. They want ever penny for themselves so if the minimum wage does go up, they won't hire the youth with no experience or at least wait till they are older.

 

[wanderingcactus]

Increasing the minimum wage will be disastrous.

Not only will this increase the cost of living, but also the available spots will be taken since less and less people will try to find a better, but harder job.

 

[Its sasukebase]

That's only because people who run the company are greedy. They want ever penny for themselves so if the minimum wage does go up, they won't hire the youth with no experience or at least wait till they are older.

this ^^^^^^^

 

[Senju Bean]

That's only because people who run the company are greedy. They want ever penny for themselves so if the minimum wage does go up, they won't hire the youth with no experience or at least wait till they are older.

When prices go up, people cut back.

By the same token, when prices for workers go up, people cut back.

People are greedy. The policy makers just need to work with this fact and not pretend that it isn't true.

 

[GreyWizard93]

I cant get a job because I dont have experience because I cant get a job because I dont have experience.

Ive been on minimum wage since I was 15.. nothing you can do about it.

 

[Senju Bean]

I cant get a job because I dont have experience because I cant get a job because I dont have experience.

Ive been on minimum wage since I was 15.. nothing you can do about it.

Well, you need to boost your skill set.

 

[Gyakusetsu]

Tired old argument that can be reduced to it's absurdity very easily. Would having no minimum wage be advisable? Go ask the Chinese factory owners in Vietnam as they stand in the ashes of their factories.

The argument is that there will be less jobs as a result because of the cost to hire or that prices will spike as a result of the labor cost increase, but here is what really happens. Rich guy does more with less folks and doesn't raise prices. Employee get's fed up decides that job isn't worth it and leaves. Rich guy has to hire more labor due to loss if skillset/knowledge. Or, Rich guy raises prices to offset his employment costs. Consumer decides they don't want product. Rich guy decides some money>no money. Lowers cost to offset lack of sales.

Bottom line having a healthy middle class benefits everyone, especially the wealthy.

 

[Senju Bean]

Tired old argument that can be reduced to it's absurdity very easily. Would having no minimum wage be advisable? Go ask the Chinese factory owners in Vietnam as they stand in the ashes of their factories.

The argument is that there will be less jobs as a result because of the cost to hire or that prices will spike as a result of the labor cost increase, but here is what really happens. Rich guy does more with less folks and doesn't raise prices. Employee get's fed up decides that job isn't worth it and leaves. Rich guy has to hire more labor due to loss if skillset/knowledge. Or, Rich guy raises prices to offset his employment costs. Consumer decides they don't want product. Rich guy decides some money>no money. Lowers cost to offset lack of sales.

Bottom line having a healthy middle class benefits everyone, especially the wealthy.

And having more unemployed is worse than having very low wages. Are the unemployed more likely to commit crimes since they have less to lose? The answer is yes.


Nice thought experiment, but there are just too many social factors involved. This isn't physics where we can run laboratory simulations. All the economists can do is look at the data. And you know what the data says? Raising minimum wage hurts everyone, especially the poor. It's as simple as that. Does the correlation mean we get a causation? No, but at least we should err on the side of caution.

Anyway, the majority of professional economists are very unlikely to be wrong.


Of course having a healthy middle class benefits everyone. But raising the minimum wage sure isn't going to help.

 

[Gyakusetsu]

And having more unemployed is worse than having very low wages. Are the unemployed more likely to commit crimes since they have less to lose? The answer is yes.


Nice thought experiment, but there are just too many social factors involved. This isn't physics where we can run laboratory simulations. All the economists can do is look at the data. And you know what the data says? Raising minimum wage hurts everyone, especially the poor. It's as simple as that. Does the correlation mean we get a causation? No, but at least we should err on the side of caution.

Anyway, the majority of professional economists are very unlikely to be wrong.


Of course having a healthy middle class benefits everyone. But raising the minimum wage sure isn't going to help.

I agree but in crunching the data are they looking at all the downstream impacts of not having a minimum wage? I doubt very seriously that those same economists would argue "I think there should not be a minimum wage.", right? Why is that? I'm sure they would point out the violence that comes into play, labor unions, etc. Not having a fair wage encourages labor organizations who in turn negotiate the wage they want regardless. This may in turn encourage offshore labor but that only lasts until the organized laborers vote out the pro-business candidate that was allowing you (meant in the general sense not you personally). that tax break. Welcome to today. I doubt those factors play a part in the data. So the argument isn't so much should there be a minimum wage, but what should that minimum wage be.