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If the minimum wage were doubled, Would job creation be cut in half, inflation will double, and half of small businesses be closed?

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  • If the minimum wage were doubled, Would job creation be cut in half, inflation will double, and half of small businesses be closed?


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Answer #1 | 23/07 2014 17:26
Raising the minimum wage will force businesses to raise their prices and cut back on staff. It's just that simple. People seem to think that there is an unlimited amount of money at the top and those evil rich people can just give up their income to pay people more than they are worth. 1 - If the head of Wal Mart gave up his entire income to help the workers, they'd all get a few bucks a year - not per hour, but just a few bucks a year. So, where is the rest of the money supposed to be found? The other executives? Well, who is going to take on that kind of responsibility for free? Will you work 80-hour weeks, be on call 24 x 7, travel away from your family constantly, and have tons of responsiblities for less than six figures? 2 - Some people are simply not worth $15/hour (or even $5/hour). 3 - Minimum wage is supposed to be an entry-level job to prove that you have basic work skills like showing up on time and following instructions. Once you prove that, you can easily move onto bigger and better things. 4 - The vast majority of people living on minimum wage are NOT SUPPORTING FAMILIES. They are young kids getting their first job to learn how things are in the real world. Those who are supporting families are given lots of free money from the taxpayers. 5 - Raising the minimum wage hurts poor families the most. Who earns minimum wage? People working at the grocery store, discount stores, and other places where poor people need to shop. If you raise the wages of the workers there, the prices of those items goes up, and the poor family has no more money at the end of the week anyway. And, some of those poor people with the worst work ethic and least amount of skills will be completely out of a job. Don't believe it? When is the last time you had someone pump your gas and check your oil for you? Those jobs went away because the minimum wage made it impossible to keep people on staff to pump gas and check oil for the customers. How many self-check out lanes are there at the grocery store now? How many factory jobs have been automated because it's cheaper to build a multi-million dollar machine than to pay workers their outrageous union salaries? .
Positive: 100 %
Answer #2 | 24/07 2014 00:19
the reason the economy doesn't go up is because people don't have money to buy things but of course just giving them money would decrease the value of the dollar. However these big corporations are so wealthy i doubt it would hurt them to pay a more livable wage - who it would hurt is the small businesses. The true reason there is no economic strength is because the average american has zero dollars in savings. Peter raises a good point - if poor people made more they would be less dependent on the government.
Positive: 100 %
Answer #3 | 23/07 2014 17:25
Economic theory and history disagree with that.
Answer #4 | 23/07 2014 17:16
No, that has never happened once ever when minimum wage was raised, nor were any jobs lost.
Answer #5 | 23/07 2014 17:20
It would be hard on small businesses and startups. Businesses would probably only employee a few of the very best they can find at the required skill for the job.
Answer #6 | 23/07 2014 17:16
No, because low income people would then have TWICE the money to spend at these small businesses.
Answer #7 | 23/07 2014 17:17
I think poverty in America would dramatically decrease, and there would be less federal money needed for Food Stamps etc.
Answer #8 | 23/07 2014 21:03
In the 5 states that have set a high minimum wage of 10.10 none of this has happened. The more people who have more money make the economy run. You think that the 1% eats 200% more food than the bottom 99%. You think they buy 50 million cars a year. 30 million houses? Think about it, if you have more people at the lower end with more money they HAVE TO SPEND IT! They can't afford to put the extra 4 or 5 thousand dollars a year in the Caymans. No matter how well a business does they cry. But they stay in business. SUPPORT YOUR LOCAL BUSINESSES, PLEASE! Case in point. An online seller wanted 56.73 for an item. I found it at a Mom and Pop hardware store for 49.82. Total prices for both. Same exact item. If you don't support American business, who will???? This is really important not some forum trolling session. If you don't support your local businesses, all you will have is WalMart and Mickey D's. A sad state of affairs.
Answer #9 | 23/07 2014 17:20
Yes
Answer #10 | 23/07 2014 17:21
lol... no... you clearly don't understand the relation of minimum wage to the economy... like at all... like... ZERO...
Answer #11 | 23/07 2014 17:19
No But low wage workers would be paying taxes and getting off of food stamps
Answer #12 | 23/07 2014 17:21
If the wawawa doubled yack yack
Answer #13 | 23/07 2014 17:23
Job creation down and a lot of bad things. Hence businesses in Seattle are complaining. The gap in the thinking on this comes from those who see fast food companies as billion-dollar corporations (which is true) but fail to understand that local restaurants are locally owned and operated at very thin profit margins. Most fast food restaurants pocket less than 2% of their total revenues in profit, and labor costs are a substantial portion of their overall operating costs. If those labor costs are suddenly doubled due to mandatory minimum wages of $15, then one of two things has to take place: 1) The restaurant must raise its prices in order to survive (or go bankrupt). 2) The restaurant must fire some of its workers and ask the remaining workers to do more work. When fast food restaurants raise their prices, guess who it hurts the most? The very same low-income workers who work there. Minimum-wage employees of one fast food restaurant, it turns out, are often customers of the restaurant next door. If their wages are doubled but the prices of the food they purchase are also doubled, the wage gains are partially nullified. Learn more: http://www.naturalnews.com/045403_minimum_wage_fast_food_workers_job_skills.html##ixzz33huntn3U
Answer #14 | 23/07 2014 17:40
Only out of stubbornness.
Answer #15 | 23/07 2014 17:19
the reason the economy doesn't go up is because people don't have money to buy things but of course just giving them money would decrease the value of the dollar. However these big corporations are so wealthy i doubt it would hurt them to pay a more livable wage - who it would hurt is the small businesses. The true reason there is no economic strength is because the average american has zero dollars in savings. Peter raises a good point - if poor people made more they would be less dependent on the government.
Answer #16 | 23/07 2014 17:32
Short term yes....long term it just increases inflation and hurts the poorest members of society.
Answer #17 | 23/07 2014 17:18
Wouldn't mean a thing ... what COULD happen is all of the above and then some, not even doubling it would make a living for a lot of people in many places, especially big cities , about the only one's such a thing might help is greedy, corrupt politicians if they can get more Tax money out of it !!!
Answer #18 | 23/07 2014 17:19
No. The businesses that tend to pay minimum wage, tend to service customers who earn around the minimum wage. If everyone got a raise, they'd have more money to spend and those businesses would make more money.
Answer #19 | 24/07 2014 14:29
A higher minimum wage can result to the following: -fewer employees -lesser hours for current employees or removed perks like tips, free food/parking, etc. -increase in prices of products or services sold -greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase -decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay In relation to the minimum wage issue, here's an interesting report: http://bitly.com/1n4lqIa.
Answer #20 | 24/07 2014 00:19
No But low wage workers would be paying taxes and getting off of food stamps
Answer #21 | 24/07 2014 00:21
lol... no... you clearly don't understand the relation of minimum wage to the economy... like at all... like... ZERO...
Answer #22 | 24/07 2014 00:32
Short term yes....long term it just increases inflation and hurts the poorest members of society.
Answer #23 | 24/07 2014 00:20
It would be hard on small businesses and startups. Businesses would probably only employee a few of the very best they can find at the required skill for the job.
Answer #24 | 24/07 2014 00:16
No, that has never happened once ever when minimum wage was raised, nor were any jobs lost.
Answer #25 | 24/07 2014 00:20
Yes
Answer #26 | 24/07 2014 00:26
Raising the minimum wage will force businesses to raise their prices and cut back on staff. It's just that simple. People seem to think that there is an unlimited amount of money at the top and those evil rich people can just give up their income to pay people more than they are worth. 1 - If the head of Wal Mart gave up his entire income to help the workers, they'd all get a few bucks a year - not per hour, but just a few bucks a year. So, where is the rest of the money supposed to be found? The other executives? Well, who is going to take on that kind of responsibility for free? Will you work 80-hour weeks, be on call 24 x 7, travel away from your family constantly, and have tons of responsiblities for less than six figures? 2 - Some people are simply not worth $15/hour (or even $5/hour). 3 - Minimum wage is supposed to be an entry-level job to prove that you have basic work skills like showing up on time and following instructions. Once you prove that, you can easily move onto bigger and better things. 4 - The vast majority of people living on minimum wage are NOT SUPPORTING FAMILIES. They are young kids getting their first job to learn how things are in the real world. Those who are supporting families are given lots of free money from the taxpayers. 5 - Raising the minimum wage hurts poor families the most. Who earns minimum wage? People working at the grocery store, discount stores, and other places where poor people need to shop. If you raise the wages of the workers there, the prices of those items goes up, and the poor family has no more money at the end of the week anyway. And, some of those poor people with the worst work ethic and least amount of skills will be completely out of a job. Don't believe it? When is the last time you had someone pump your gas and check your oil for you? Those jobs went away because the minimum wage made it impossible to keep people on staff to pump gas and check oil for the customers. How many self-check out lanes are there at the grocery store now? How many factory jobs have been automated because it's cheaper to build a multi-million dollar machine than to pay workers their outrageous union salaries? .
Answer #27 | 24/07 2014 00:16
No, because low income people would then have TWICE the money to spend at these small businesses.
Answer #28 | 24/07 2014 00:18
Wouldn't mean a thing ... what COULD happen is all of the above and then some, not even doubling it would make a living for a lot of people in many places, especially big cities , about the only one's such a thing might help is greedy, corrupt politicians if they can get more Tax money out of it !!!
Answer #29 | 24/07 2014 00:19
No. The businesses that tend to pay minimum wage, tend to service customers who earn around the minimum wage. If everyone got a raise, they'd have more money to spend and those businesses would make more money.
Answer #30 | 24/07 2014 04:03
In the 5 states that have set a high minimum wage of 10.10 none of this has happened. The more people who have more money make the economy run. You think that the 1% eats 200% more food than the bottom 99%. You think they buy 50 million cars a year. 30 million houses? Think about it, if you have more people at the lower end with more money they HAVE TO SPEND IT! They can't afford to put the extra 4 or 5 thousand dollars a year in the Caymans. No matter how well a business does they cry. But they stay in business. SUPPORT YOUR LOCAL BUSINESSES, PLEASE! Case in point. An online seller wanted 56.73 for an item. I found it at a Mom and Pop hardware store for 49.82. Total prices for both. Same exact item. If you don't support American business, who will???? This is really important not some forum trolling session. If you don't support your local businesses, all you will have is WalMart and Mickey D's. A sad state of affairs.
Positive: 0 %
Answer #31 | 24/07 2014 00:17
I think poverty in America would dramatically decrease, and there would be less federal money needed for Food Stamps etc.
Answer #32 | 24/07 2014 00:25
Economic theory and history disagree with that.
Answer #33 | 24/07 2014 00:23
Job creation down and a lot of bad things. Hence businesses in Seattle are complaining. The gap in the thinking on this comes from those who see fast food companies as billion-dollar corporations (which is true) but fail to understand that local restaurants are locally owned and operated at very thin profit margins. Most fast food restaurants pocket less than 2% of their total revenues in profit, and labor costs are a substantial portion of their overall operating costs. If those labor costs are suddenly doubled due to mandatory minimum wages of $15, then one of two things has to take place: 1) The restaurant must raise its prices in order to survive (or go bankrupt). 2) The restaurant must fire some of its workers and ask the remaining workers to do more work. When fast food restaurants raise their prices, guess who it hurts the most? The very same low-income workers who work there. Minimum-wage employees of one fast food restaurant, it turns out, are often customers of the restaurant next door. If their wages are doubled but the prices of the food they purchase are also doubled, the wage gains are partially nullified. Learn more: http://www.naturalnews.com/045403_minimum_wage_fast_food_workers_job_skills.html##ixzz33huntn3U
Answer #34 | 24/07 2014 00:40
Only out of stubbornness.
Answer #35 | 24/07 2014 21:29
A higher minimum wage can result to the following: -fewer employees -lesser hours for current employees or removed perks like tips, free food/parking, etc. -increase in prices of products or services sold -greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase -decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay In relation to the minimum wage issue, here's an interesting report: http://bitly.com/1n4lqIa.
Answer #36 | 24/07 2014 00:21
If the wawawa doubled yack yack

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