Yea I know, increasing the minimum wage is so stupid...
A great way of looking at it is...if a business hass $100.00 dollars and $90.00 of those dollars go twords running the business & also includes the profit the owner(s) make...So they have $10.00 left to hier more employees. Lets say they hire 3 employes for 3 dollars an hour. If congress up's the minimum wage to 5 dollars. the company will have to get rid of 1 person.
Unemployment where I live is like some thing close to 20%....That will help a lot of things >.>
No, amping up the minimum wage is good, we just happen to be in an economic downturn. When George Dubya passed it, it was for long term success. Seeing as we are in bad times, it just seems to have hit the wall and it's gonna get worse before it gets better. Besides, no adult can live and support a family with the current minimum wage, and those are the people that truly NEED a job.
Looking at it that way would always keep the minimum wage permenantly at your $3.00 level even though inflation lowers the value of said $3.00 constantly. Many people have argued against moving up the minimum wage level... or for that matter, having a minimum wage at all. But you know what? In the short run it may cause a little pain to a small amount of kids with getting enough low paying summer or part time jobs but it sure as hell allows many a hard working adult who gets an entry level full time job from sinking into poverty WHILE they work. Remember, inflation still continues and thanks to minimum wage level increases many a hard working adult doesnt have to starve while working their asses off scrubbing pots late at night at your local restaurant's kitchen.
Anubis was stating this this is very bad timing to be messing with money when companies can barely hang on the way it is. Oh wait, maybe Obama can drop those health care premiums to nothing.....problem solved!
Dan
You are correct. Companies turn profits, those profits are for paying wages, equipment, repairs, insurance, profit sharing etc. Some people seem to think that companies can magically produce money like Obama and porkulus clan. The company I work for has a very slim profit, yet we employ around 500 people, thats a lot of jobs! You increase wages, guess what? Something else has to be cut, and that ALWAYS leads to jobs/positions being cut to compensate. Who gained? People do not seem to understand this concept, head in sand.
Dan
ok, but shouldn't adults try harder to find jobs that pay money instead of minimum wage. the reason those jobs pay minimum wage is because they require the least amount of skill (i worked jobs like this, stocking shelves in grocery store and unloading trucks, all you have to do is be able to lift). all that really happens from increasing minimum wage is that it causes the business that pays min wage to increase the costs of their goods to keep up with that cost. so the worker who makes min wage really gets nothing out of it, because his pay increase is canceled out because he is paying more for the same product. and for those of us who do make more than min, all it does is increase the cost to us, but our pay doesn't go up.
as adults, it is our responsiblity to work hard to either get good work, learn a trade, or better a skill, so that we can earn livable wages, and this may sound mean, but i don't have alot of pity for the majority of adults making minimum wage because most of them made that choice to not better themselves, and its very easy to not try and stay in one place. i do have pity for those who can only work those jobs because of age, disablility, whether its physical or mental, etc, because they want to work, but this is all they can accept, and raising the minimum wage does nothing for them other causing the cost of living to go up, and cause them to pay a little more in income tax, which actuallly puts them having less in the end than they did before the increase.
Well of course people are looking to get the best out there, but some people are at the point where ANYTHING is better than nothing, and they'll be willing to take it. With that said, $7.25 is better than $6.55 for anyone and there are plenty of folks out there happy to at least work for this.