| CDiablo said: Im no economist but wouldn't lowering the minimum wage just result in the poor getting really, really screwed over. I've worked in IT for about 10 years and have received exactly 1 pay cut to my wages and never any raises despite how well the company is doing. Every year benefits get worse. Every year cost of living goes up. Now I do have the option to switch jobs, but with each tier of job I get to there is typically less of that job available. Im ok because I make decent money well over minimum. For companies paying low wages, entry jobs, fast food, janitorial, ect what reason should they pay more than the absolute minimum for people to live in absolute poverty? Yes managers will make more but the grunts will work because they dont want to turn to crime and do not want to starve. Crime will likely rise but as long as it does not effect the bottom line of the low wage job suppliers have no incentive to pay more than the absolute minimum they can to get desperate workers to do their work. I dont understand how having no minimum wage helps anyone other than the already wealthy. |
Its worth it to keep hard working trained people. many fast food places and restaurants have people that make more than minimun wage. the problem is you cant hire and train at high wages, for every one spot i have open at the restaurant i usually hire 3 people knowing that 2 will not work out for some reason or another. Its hard to pay for all of that. But 6 months to a year in, its worth it to pay people more, they know their stuff, they are more of an asset to the company, and you wouldn't want to loose them.
For the bolded, welcome to the new america. Its like that for everybody, not just you. We have not and will not recover from the last recesions. We aren't the top dog any more. With China and India growing in importance, and us fading, that is what will happen. We have created an enviroment in which its better to business elseware than here. Too much regulation on everything.
