I think the answer is that we should have a progressive minimum wage.
It should be based on the size of your business/ number of employees.
This way the mom and pop store can stay open and hire your teen for say, $8 per hour. Meanwhile Walmart should be forced to pay, say $20 per hour. Yes the prices of goods and services will go up. But the biggest consumers of goods and services- the rich- will be paying the most.
It will help the small business owner, And it will take some $$ out of the big CEO's and stockholders' pockets and put it into middle class's pocket. Everyone will be trying to get the better paying minimum wage job. Everyone will want to buy goods and services from mom and pop as their prices will become more competitive. This could be the great equalizer.
Hi I am a high school drop out.
I have 3 illegitimate kids and a current girlfriend and a 4th future liberal on the way.
The rest of society should pay $12.46 for a single quarter pound cheeseburger because I don't have a skill set to support myself or family. Your wimpy American society enabled me to drop out of school because I have welfare, food stamps, supplemental housing free healthcare, and now, the liberals want to pay me more as a reward for being lazy and stupid.
I used to think minimum wage jobs were for kids to have some spending money and gain a bit of experience. Now, it is a way of life. Thanks liberals!!!
a. single people do not qualify for welfare or other benefits, b. your girlfriend can sue you for child support, c. many working people today qualify for food stamps because their wages are so low. The public is subsidizing Walmart's low wage employment practices. Same thing with the shop that sells your cheeseburger. First people get criticized for being unemployed. Then they get criticized for taking the available low-wage jobs and needing assistance. Their thanks is to be called "lazy and stupid".
First of all prices are determined by supply and demand. You are not going to buy as many Big Macs if they cost 3 times as much. Second. most poor people work and are not stupid or lazy. That would be rich people like Steve Forbes who inherited all of Daddy's money and feels entitled to talk about even more tax cuts for the rich.
Abandon minimum wage won't work with the Federal Government refusing to enforce immigration laws. Supply of cheap labor will increase exponentially with new arrivals from places in Africa or Asia willing to work for $1 per hour. Perhaps if we follow the proposal in Switzerland with the max pay for the CEO as 20 x the lowest paid employee it could have a chance. CEOs have been known to use all the power possible available from their lofty position to maximize pay and perks and do not like possible limitations in this area. Thus if lower paid employees means low total compensation for CEOs abandon minimum wage might just work. Let us do the math. 2000hours/year x $1/hour = $2000.00 in regular pay. $2000.00 x 20 = $40,000.00 as the new maximum compensation for this CEO. Let us hear from some CEOs how they would like this. $20,000,000/year vs. $40,000/year.
Well wait. My wife (that harry chested Honey) says I need to correct this. She/we have seen grocery prices go up 30-100% and more over that last five years. And who even talks about the price of fuel anymore?
Then all we will have is a country with very small companies were everything gets outsourced. Trying to force a solution onto people never works because all they do is get around it and the unintended consequence is always the exact opposite of what you wanted to achieve.
Rent control is an example. Eventually want happens is people who want to move sell access to their apartment for a bounty and the only people who get access to rent control are these black market insiders. Now you have a situation where no one new can move into an area and no new apartment complexes are built because there are more profitable ways to utilize the land. What eventually results is an apartment shortage which drives up rents in the surrounding areas. Now you have to drive farther and pay more. Just the opposite of what you had intended. Eventually life is worse, not better.
This is always what happens because as soon as you take the profit out of something no one wants to provide it anymore. They look for another way to make money.
You can try to solve problems this way but it is like pounding your head against the wall. All you do is hurt yourself.