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Minimum wage?

Discussion in 'Business & Economics' started by TheGuru, Dec 21, 2006.

  1. TheGuru

    TheGuru New Member

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    Increase it or decrease it?

    Or abolish it?
     
  2. jaywoodard

    jaywoodard New Member

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    i don't like the way states are raising minimum wages (especially california).

    some businesses can't function because of such high minimum wages
     
  3. curefiend

    curefiend New Member

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    What businesses can't function because of such a "high minimum wage"? Most people can't survive off of the current minimum wage. It should be a minimum living wage, not what it is right now.
     
  4. Walter

    Walter Administrator Staff Member

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    the new federal minimum wage is now $7.25
     
  5. MarkVI

    MarkVI New Member

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    I live in California and I am affected by this minimum wage increase as an employee.

    I was previously above the minimum wage, but with this change in effect I got a little raise.
    I'll try not to be biased in this, as I have benefited from this increase.


    Some small, "low-income" business may be harmed by this increase. They will now need to cut at their profits to adequately pay their employees, or they will need to raise their prices. That may in turn hurt their business.

    On the other side, we have huge corporations. They may pay their employees minimum wage in an effort to maximize profit. I'm reminded of these two quotes:

    -Lheureux Madame Bovary

    -Thomas Murphy, Former Chairman of GM

    At least Henry Ford payed his workers enough to where they could actually purchase the products they produced. If all the workers get underpaid for the good they produce, who will purchase those goods?
    But that's in the past, about 90 years ago.

    -http://www.willamette.edu/~fthompso/MgmtCon/Henry_Ford.html

    What we need, as curefiend stated, a minimum living wage. We need a wage upon which a person can raise their familiy and live off of. Our society as a whole would be much better for it.

    The time of the stay at home mother and the single-job, single income family are coming to an end. With wages the way they are (and other costs, including healthcare and other necessary expenses) a single income can not raise a family and sustain them.

    The real problem is the unbalanced distribution of wealth.
    From one of my Political Science books:
    Michael Parenti Democracy for the Few

    That gave me a sobering perspective of reality. I was under the impression that everything was just dandy in the world. I never realized what a dire situation this world is in. I recommend the book, it has a lot of good information and a different perpective of our country.

    The increase to $7.25 at the national level is a huge step forward. Previous to this increase, the minimum wage hadn't changed for about 10 years.

    Also, this increase is not a done deal:

    -http://en.wikipedia.org/wiki/Minimum_wage#United_States

    The Senate must still pass it and then it needs to be signed by the President. Of course a vote of 290 (in the House) will provide the required 2/3 vote to override the potential veto. The Senate would need a vote of 66-67 for that 2/3 vote.

    Just wait and see. Let your representatives know how you feel on these issues. They're voting for us, remember. It's still our country even though it may not always seem like it.
     
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