Abolish the Minimum Wage Law

[Phinnaeus Gage]

In response to the following(s):

is so damn quiet without Atlas

Yes we need someone else to make 10 new topics a day with the latest fox news/NPR talking points.  

After listening to http://www.npr.org/2012/01/03/144594861/raising-the-minimum-wage-who-does-it-help I almost firmly believe that the minimum wage law should be abolished. There are a lot of people out of work that would gladly work for nothing if given the opportunity of being fully employed.  



As you can see is the above real-to-life photo, this guy is clearly upset for the wages he's receiving, expressing that stress to his boss, but the company's tied to that damn minimum wage law.

Lower the minimum wage 10% a year, and after 10 years there will be no unemployment worldwide.

Comments?

[TheHeroMember]

How about implementing those minimum wage law only to Bosses, Employers and Execs. 

[Phinnaeus Gage]

How about implementing those minimum wage law only to Bosses, Employers and Execs. 

Good idea! A new law needs to be passed. Bosses should make no less than $100,000 per year. Employers, no less than $250,000. And Execs, no less $1M. That way the IRS can take more out of their pay so that the government can create more nonpaying jobs.

[LoupGaroux]

How about implementing those minimum wage law only to Bosses, Employers and Execs. 

Good idea! A new law needs to be passed. Bosses should make no less than $100,000 per year. Employers, no less than $250,000. And Execs, no less $1M. That way the IRS can take more out of their pay so that the government can create more nonpaying jobs.

+.2521 (because that is all that is left when they are done taxing me!)

[dayfall]

I say we try it.  Just don't try it here.  I think it will end horribly.  Corporations will get away with murder if allowed.  The only thing that needs to be changed is relaxed laws for small businesses and entrepreneurs.

[Phinnaeus Gage]

I say we try it.  Just don't try it here.  I think it will end horribly.  Corporations will get away with murder if allowed.  The only thing that needs to be changed is relaxed laws for small businesses and entrepreneurs.

I'm sure it's been try somewhere before, and look where that got them.

[Valalvax]

Yea, because spending 2 or 3 dollars in gas to get to work to work 4 hours at 3 or 4 dollars an hour and then 2 or 3 dollars in gas to get home is /totally worth it

Yay! I made 6 dollars!

Oh? You're driving an old shitty vehicle that only gets 10 miles to the gallon

Make that only 4 dollars, tomorrow you'll be able to afford a meal at McDonalds!

[Wekkel]

First, you would have to implement a decent money system. Repeal of the minimum wage law will plummet the workers' income, while leaving their current debts as they are. Got to get rid of the debt-money system first.

[P4man]

Lowering minimum wages is a brain dead idea; it will not increase employment levels and will in fact further ruin the economy. The problem most corporations have is not primary labor cost, its a lack of consumer demand.  You could go back to slavery and it wouldnt solve that problem. On the contrary, lower minimum wages will further decrease the money consumers have available for spending.

IMO income and wealth disparity is not a social or "fairness" problem as much as it is an economic problem.

[TheHeroMember]

Minimum wage law will just create bigger problems, expect salary distortion across the board.

[Sannyasi]

minimum wage = additional inflation.... i do not support minimum wage even though it sounds tasty on the outside.

[P4man]

minimum wage = additional inflation....

What inflation? We dont have an inflation problem, and that is despite printing and giving trillions to the banks.

[TheHeroMember]

minimum wage = additional inflation....

What inflation? We dont have an inflation problem, and that is despite printing and giving trillions to the banks.

Are we experiencing inflation problem last year?

[onesalt]

Raise the minimum wage so that more people have more money which they can spend, stimulating the economy.

[EndTheBanks]

Raise the minimum wage so that more people have more money which they can spend, stimulating the economy.

All that would do is devalue an already worthless dollar. It would create nothing. If anything, it would raise food costs and force employers to raise prices.

It's called inflation. It doesn't work and it sustained The Great Depression. Bernanke and friends keep telling you it works and you believe it does in the face of destruction.

Hurr Durr Keynesianism

[RandyFolds]

Raise the minimum wage so that more people have more money which they can spend, stimulating the economy.

All that would do is devalue an already worthless dollar. It would create nothing. If anything, it would raise food costs and force employers to raise prices.

It's called inflation. It doesn't work and it sustained The Great Depression. Bernanke and friends keep telling you it works and you believe it does in the face of destruction.

Hurr Durr Keynesianism

I think you are confused. Case in point: Australia.

[EndTheBanks]

Raise the minimum wage so that more people have more money which they can spend, stimulating the economy.

All that would do is devalue an already worthless dollar. It would create nothing. If anything, it would raise food costs and force employers to raise prices.

It's called inflation. It doesn't work and it sustained The Great Depression. Bernanke and friends keep telling you it works and you believe it does in the face of destruction.

Hurr Durr Keynesianism

I think you are confused. Case in point: Australia.

Australia has thriving trade agreements with one of the world's only sovereign nations: China. The Chinese currency is actually owned by the people that hold it. It's not backed by debt and the Australians benefit from it.

I think you are confusing Keynesian policy with actual productive activity.

Now UN and NATO influence is putting American troops on Australian soil. You know why?

The banks don't like the economic freedom around there one freaking bit. It's not going to last for long. I am going to put my money on it.

The Eastern hemisphere's sovereignty is going to be challenged tooth-and-nail in the coming decades and most of it is going to be done through war and war never changes. It debases currency and destroys sovereignty. It will all be centralized into larger nations, fewer currencies and more control.

[RandyFolds]

Raise the minimum wage so that more people have more money which they can spend, stimulating the economy.

All that would do is devalue an already worthless dollar. It would create nothing. If anything, it would raise food costs and force employers to raise prices.

It's called inflation. It doesn't work and it sustained The Great Depression. Bernanke and friends keep telling you it works and you believe it does in the face of destruction.

Hurr Durr Keynesianism

I think you are confused. Case in point: Australia.

Australia has thriving trade agreements with one of the world's only sovereign nations: China. The Chinese currency is actually owned by the people that hold it. It's not backed by debt and the Australians benefit from it.

I think you are confusing Keynesian policy with actual productive activity.

Now UN and NATO influence is putting American troops on Australian soil. You know why?

The banks don't like the economic freedom around there one freaking bit. It's not going to last for long. I am going to put my money on it.

The Eastern hemisphere's sovereignty is going to be challenged tooth-and-nail in the coming decades and most of it is going to be done through war and war never changes. It debases currency and destroys sovereignty. It will all be centralized into larger nations, fewer currencies and more control.

So $17/hr minimum wage is paid by China? Can you elaborate?

There is not much economic freedom in Australia. Its banking and industry are heavily regulated.

[EndTheBanks]

Raise the minimum wage so that more people have more money which they can spend, stimulating the economy.

All that would do is devalue an already worthless dollar. It would create nothing. If anything, it would raise food costs and force employers to raise prices.

It's called inflation. It doesn't work and it sustained The Great Depression. Bernanke and friends keep telling you it works and you believe it does in the face of destruction.

Hurr Durr Keynesianism

I think you are confused. Case in point: Australia.

Australia has thriving trade agreements with one of the world's only sovereign nations: China. The Chinese currency is actually owned by the people that hold it. It's not backed by debt and the Australians benefit from it.

I think you are confusing Keynesian policy with actual productive activity.

Now UN and NATO influence is putting American troops on Australian soil. You know why?

The banks don't like the economic freedom around there one freaking bit. It's not going to last for long. I am going to put my money on it.

The Eastern hemisphere's sovereignty is going to be challenged tooth-and-nail in the coming decades and most of it is going to be done through war and war never changes. It debases currency and destroys sovereignty. It will all be centralized into larger nations, fewer currencies and more control.

So $17/hr minimum wage is paid by China? Can you elaborate?

There is not much economic freedom in Australia. Its banking and industry are heavily regulated.

No, the Chinese don't get paid in debt. They get paid in actual currency. That's why there is no such thing as a jobless Chinese: there is actual wealth creation and not a hopeless circle of debt.

If you were to pay off all of Australia's debt, there would be no more Australian banknotes. Australian citizen's get paid in currency that is owned by Chinese and European shareholder's that can be taken away from the citizens at anytime.

You're right, there's not. Again, they are living off the Chinese: they own the country.  An Australian's productivity is only collateral much like a US citizen's.

[P4man]

All that would do is devalue an already worthless dollar. It would create nothing. If anything, it would raise food costs and force employers to raise prices.

You can keep saying that, but it doesnt make it true.  Printing trillions of dollars and giving it to the banks should cause vastly more inflation, If you are so concerned about inflation, thats what you should worry about. But even that so far has not really created inflation. inflation isnt our problem at this point.

 Besides, minimum wage in real dollars today is lower than it was in the 50s, 60s, 70s, 80s and 90s.