Comments on: Is the Minimum Wage Too Low? http://moneysmartlife.com/is-the-minimum-wage-too-low/ Money Tips for a Better Life Sat, 21 Nov 2009 07:43:50 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: gabba http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-154716 gabba Fri, 10 Jul 2009 15:00:16 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-154716 Minimum wage is an insult. they should eliminate the penny and go for flat dollars instead of change. What the hell is change in a time like this? This isn't the 1920's where you can buy bread for a dime. My dad (still ticking) remembers those days. People should be "FORCED" to move onto plastic money (cards and debit) and get rid of cash all together. What a serious waste. In the issue regarding the article, businesses like WIS and RGIS (inventory companies) charge around 70 thousand dollars for each inventory on stores like KHOLS and What used to be Mervins (now dead), about 50 thousand for groceries and Fry's electronics I think is a million dollars per inventory. Inventory employees from WIS only get about 8.30 an hour. I highly doubt a minimum wage of at LEAST 16 dollars per hour is going to effect ANY business owner out there. (except mom and pop shops which in that case should only be self employment) Labor is a lot more stressful than typing away at the PC (which I do and I do remember Labor jobs before that) I believe I deserve a lot less pay at what I do now as opposed to when I was flippin burgers. Minimum wage is an insult. they should eliminate the penny and go for flat dollars instead of change. What the hell is change in a time like this? This isn’t the 1920’s where you can buy bread for a dime. My dad (still ticking) remembers those days.

People should be “FORCED” to move onto plastic money (cards and debit) and get rid of cash all together. What a serious waste.

In the issue regarding the article, businesses like WIS and RGIS (inventory companies) charge around 70 thousand dollars for each inventory on stores like KHOLS and What used to be Mervins (now dead), about 50 thousand for groceries and Fry’s electronics I think is a million dollars per inventory. Inventory employees from WIS only get about 8.30 an hour. I highly doubt a minimum wage of at LEAST 16 dollars per hour is going to effect ANY business owner out there. (except mom and pop shops which in that case should only be self employment) Labor is a lot more stressful than typing away at the PC (which I do and I do remember Labor jobs before that) I believe I deserve a lot less pay at what I do now as opposed to when I was flippin burgers.

]]> By: More Great Personal Finance Posts - Weekly Round Up | Cash Money Life http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-106175 More Great Personal Finance Posts - Weekly Round Up | Cash Money Life Mon, 15 Sep 2008 21:05:38 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-106175 [...] articles. I support raising it, but I agree with many others, including Money Smart Life who asked Is The Minimum Wage Too Low?, and Mighty Bargain Hunter, who asked what’s the point? His anecdotal evidence suggests it [...] [...] articles. I support raising it, but I agree with many others, including Money Smart Life who asked Is The Minimum Wage Too Low?, and Mighty Bargain Hunter, who asked what’s the point? His anecdotal evidence suggests it [...]

]]> By: George http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-24235 George Tue, 30 Oct 2007 17:07:24 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-24235 I'll say that again. We have a lower average wage and gross gdp per capita by $10,000 each but our minimum wage is SIXTEEN DOLLARS PER HOUR. Our unemployment is very low and we destroy the US on the quality of life. You governemt and your business owners are pissing in your pocket. They can afford to pay you a LOT more. I’ll say that again. We have a lower average wage and gross gdp per capita by $10,000 each but our minimum wage is SIXTEEN DOLLARS PER HOUR.

Our unemployment is very low and we destroy the US on the quality of life.

You governemt and your business owners are pissing in your pocket. They can afford to pay you a LOT more.

]]> By: George http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-24234 George Tue, 30 Oct 2007 17:05:02 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-24234 Ok I live in Australia. Not an economist but cop this. Minimum wage is SIXTEEN DOLLARS PER HOUR. Our gross GDP per CAPITA is 31,000 vs us 41,000 APPROC ur average wage is approc $10,000 higher than ours. YET we DESTROY you on the quality of life indicators, we have nearly as much wage inequality. But people get paid a whole lot more. Our economy does not collapse, it adapts, small stores that can't afford to hire employees use mom and pop operations. They don't hire many slaves. We have many stores and much growth b.c ppl can afford to buy things. That what you don't consider, profits taken from a company and given to employees lead to direct consumption and growth LOCALY. I have no doubt, business can afford to pay their workers more they just chose not to an it is hurting your economy. Deflation... lol.. DEFLATION when the world is booming the US is dying. WAKE UP. Ok

I live in Australia. Not an economist but cop this. Minimum wage is SIXTEEN DOLLARS PER HOUR.

Our gross GDP per CAPITA is 31,000 vs us 41,000 APPROC

ur average wage is approc $10,000 higher than ours.

YET

we DESTROY you on the quality of life indicators, we have nearly as much wage inequality. But people get paid a whole lot more.

Our economy does not collapse, it adapts, small stores that can’t afford to hire employees use mom and pop operations. They don’t hire many slaves.

We have many stores and much growth b.c ppl can afford to buy things. That what you don’t consider, profits taken from a company and given to employees lead to direct consumption and growth LOCALY.

I have no doubt, business can afford to pay their workers more they just chose not to an it is hurting your economy.

Deflation… lol.. DEFLATION when the world is booming the US is dying. WAKE UP.

]]> By: Hoystriking.Com » Is the Minimum Wage Too Low? http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-23713 Hoystriking.Com » Is the Minimum Wage Too Low? Mon, 29 Oct 2007 00:25:44 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-23713 [...] unknown wrote an interesting post today on Is the Minimum Wage Too Low?Here’s a quick excerpt [...] [...] unknown wrote an interesting post today on Is the Minimum Wage Too Low?Here’s a quick excerpt [...]

]]> By: Customers Revenge http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-13504 Customers Revenge Wed, 01 Aug 2007 14:17:22 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-13504 Businesses will pass every cost increase on to the consumer, especially if it is universal like a minimum wage. Therefore all you do is create inflation and the employee will not be further ahead except that maybe now they have to pay more in taxes. The only busineses that won't pass on a minimum wage increase will be those that aren't affected like automated businesses or outsourced. In that case, the companies that are affected will be out-competed and you will have simply put a company out of business along with all their employees. The normal progression is that people take a minimum wage job, get experience, then move on to a better job. People should not be spending a career flipping burgers. Businesses will pass every cost increase on to the consumer, especially if it is universal like a minimum wage. Therefore all you do is create inflation and the employee will not be further ahead except that maybe now they have to pay more in taxes.

The only busineses that won’t pass on a minimum wage increase will be those that aren’t affected like automated businesses or outsourced. In that case, the companies that are affected will be out-competed and you will have simply put a company out of business along with all their employees.

The normal progression is that people take a minimum wage job, get experience, then move on to a better job. People should not be spending a career flipping burgers.

]]> By: » Weekly Roundup - Ghent Bar Tour Weekend on Blueprint for Financial Prosperity http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-13446 » Weekly Roundup - Ghent Bar Tour Weekend on Blueprint for Financial Prosperity Tue, 31 Jul 2007 02:08:57 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-13446 [...] Ben wonders if minimum wage is too low. Personally I think the market should dictate wages, the government has enough to worry about. This may be a departure from my earlier thinking though and I reserve the right to change my opinion at any time. [...] [...] Ben wonders if minimum wage is too low. Personally I think the market should dictate wages, the government has enough to worry about. This may be a departure from my earlier thinking though and I reserve the right to change my opinion at any time. [...]

]]> By: Slinky http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-13433 Slinky Mon, 30 Jul 2007 17:58:19 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-13433 Here's an interesting point no one has brought up....You raise minimum wage so that people can buy more, live better, afford life. That's great. Now business owners can't afford their employees, so they raise prices. Now that nice raise all the workers just got buys about the same as what they used to make. How does this help? Here’s an interesting point no one has brought up….You raise minimum wage so that people can buy more, live better, afford life. That’s great. Now business owners can’t afford their employees, so they raise prices. Now that nice raise all the workers just got buys about the same as what they used to make. How does this help?

]]> By: JM http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-13425 JM Mon, 30 Jul 2007 14:41:58 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-13425 "Think of yourself personally as an employer, what happens when your cable bill raises by a 10% and your level of service is unchanged? More than likely you’re a bit pissed off and you begin to look for alternate providers or find ways to cut costs. A business is no different, when someone mandates they have a higher expense they either need to pass it along to consumers or find cheaper help." Well, the thing is you aren't supposed to be at min. wage for the duration of your career. Most businesses I have ever worked for, some of which were salary, some of which started at min. wage, offered periodic reviews and increases. Sometimes in as little as 90 days. What I'm trying to say is, if a person stays working for Sam for a length of time, Sam IS getting more for his money in the form of increased efficiency, seniority, mentoring of newer employees etc. Not to mention he is avoiding the costs associated with hiring and training a new employee. Even Walmart gives its employees raises now and then, so I would say Sam is probably just a cheap asshole, and Joe is an idiot for putting up with it and staying. “Think of yourself personally as an employer, what happens when your cable bill raises by a 10% and your level of service is unchanged? More than likely you’re a bit pissed off and you begin to look for alternate providers or find ways to cut costs. A business is no different, when someone mandates they have a higher expense they either need to pass it along to consumers or find cheaper help.”

Well, the thing is you aren’t supposed to be at min. wage for the duration of your career. Most businesses I have ever worked for, some of which were salary, some of which started at min. wage, offered periodic reviews and increases. Sometimes in as little as 90 days.

What I’m trying to say is, if a person stays working for Sam for a length of time, Sam IS getting more for his money in the form of increased efficiency, seniority, mentoring of newer employees etc. Not to mention he is avoiding the costs associated with hiring and training a new employee.

Even Walmart gives its employees raises now and then, so I would say Sam is probably just a cheap asshole, and Joe is an idiot for putting up with it and staying.

]]> By: shadox http://moneysmartlife.com/is-the-minimum-wage-too-low/comment-page-1/#comment-13408 shadox Mon, 30 Jul 2007 03:24:42 +0000 http://moneysmartlife.com/is-the-minimum-wage-too-low/#comment-13408 I think the Federal minimum wage is too low. As a stringent free marketer, I believe that the vast majority of prices should be left for the market to determine. However, I feel that respectfully living on $5.15 an hour is not possible. Yes, some businesses will need to shut down or fire employees if the minimum wage increases. That is a very unfortunate side effect. However, as a society we should consider the notion that maybe business that cannot pay their employees a living wage and still survive might not be worth saving. I do not say this lightly. It will be hard to explain to workers who lose their jobs due to an increase in the minimum wage that they are losing their livelihoods for the good of society. However, if you take this argument to the extreme, you can argue that there should not be a minimum wage at all. Yet, even with a much higher minimum wage in states like CA, business are doing very well, thank you very much. This is a very good post. Thanks for raising the issue. I think the Federal minimum wage is too low. As a stringent free marketer, I believe that the vast majority of prices should be left for the market to determine.

However, I feel that respectfully living on $5.15 an hour is not possible. Yes, some businesses will need to shut down or fire employees if the minimum wage increases. That is a very unfortunate side effect. However, as a society we should consider the notion that maybe business that cannot pay their employees a living wage and still survive might not be worth saving.

I do not say this lightly. It will be hard to explain to workers who lose their jobs due to an increase in the minimum wage that they are losing their livelihoods for the good of society. However, if you take this argument to the extreme, you can argue that there should not be a minimum wage at all. Yet, even with a much higher minimum wage in states like CA, business are doing very well, thank you very much.

This is a very good post. Thanks for raising the issue.

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