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Question: Would killing the minimum wage help?
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crwth
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May 08, 2017, 02:37:15 PM
 #181

It's okay to be part of the minimum wage community because you have no tax. (That's in my country, I'm not sure with other places) I'm a minimum wage earner and I currently enjoy what I'm doing because of the possibilities that I could do and be thankful that I have a job is what keeps me going, it's not all about the money. I thank Bitcoin for being a part of my sources of income too.



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May 08, 2017, 03:18:43 PM
 #182

It's okay to be part of the minimum wage community because you have no tax. (That's in my country, I'm not sure with other places) I'm a minimum wage earner and I currently enjoy what I'm doing because of the possibilities that I could do and be thankful that I have a job is what keeps me going, it's not all about the money. I thank Bitcoin for being a part of my sources of income too.
In most countries you unfortunately are taxed. In the EU most countries have a tax threshold set below the minimum, so you have to be employed half-time to avoid it.
In some countries the tax threshold is set below the level of welfare. This means that if you are poor and receive welfare throughout the year, you'll come up above the threshold! That's one of the dumbest laws, but who am I to argue?


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May 08, 2017, 06:51:46 PM
 #183

Republican Presidential candidate Michele Bachmann quoted "Literally, if we took away the minimum wage-if conceivably it was gone-we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level."

We hear about and see in our own personal lives where people who once high paying and respectable jobs are now working in at fast food restaurants and retail clothing stores.

I do like having a minimum wage, since it helps protect the lower income class. However, considering how the economy is now and seeing many jobs being offered offshore, removing the min. wage law may actually help keep jobs within the states.

And wasn't one of the top causes of The Great Depression had to do with Herbert Hoover keeping wages from decreasing which ultimately lead to extremely high unemployment rate?

What are your thoughts on this?

Minimum wage in globalized environment keeps atleast some of the GDP in countries used as source of cheap labor. Would its abolishment in States lead to elimination of unemployment? It is very likely.

However, side effects cannot be underestimated. Before such decision, government should conduct studies on impacts.
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May 08, 2017, 07:02:55 PM
 #184

Republican Presidential candidate Michele Bachmann quoted "Literally, if we took away the minimum wage-if conceivably it was gone-we could potentially virtually wipe out unemployment completely because we would be able to offer jobs at whatever level."

We hear about and see in our own personal lives where people who once high paying and respectable jobs are now working in at fast food restaurants and retail clothing stores.

I do like having a minimum wage, since it helps protect the lower income class. However, considering how the economy is now and seeing many jobs being offered offshore, removing the min. wage law may actually help keep jobs within the states.

And wasn't one of the top causes of The Great Depression had to do with Herbert Hoover keeping wages from decreasing which ultimately lead to extremely high unemployment rate?

What are your thoughts on this?

Minimum wage in globalized environment keeps atleast some of the GDP in countries used as source of cheap labor. Would its abolishment in States lead to elimination of unemployment? It is very likely.

However, side effects cannot be underestimated. Before such decision, government should conduct studies on impacts.
Your words sound like a sentence Especially for those countries where the minimum wage is much lower than the minimum subsistence minimum, with the retirement age increasing every year. How to live in such conditions to a simple worker whose health is not so much already.
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May 08, 2017, 07:07:04 PM
 #185

It is wrong for many countries. Minimum wage is needed for many poor families and their life. Minimum wage can help lower income families which in many countries are the majority so removing the minimum wage can only do harm to the majority of the population in many countries of the world. Killing the minimum wage can make the saying "rich are getting richer while poor are getting poorer" more evident and can bring many discontent to population of a country which can be translated into rage on the roads. Killing the minimum wage it is plain wrong.
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