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Angelo

If the Democrats get a majority and raise the minimum wage how will it affect you?

Will it cause you to lay off workers or inflate your prices to keep them?
.......:

In will cause inflation. Smaller companies will freeze full-time hiring, especially on entry level jobs. Every hike in the minimum wage is echoed in other government costs that are tied to it. Let the market place determine the wage, which is often higher than the government's mandated wage and more in line with the real world economics.

Angelo:

yup - supply and demand SHOULD be what drives wages.

Looking4answers:

If the market sets wages higher than the government, why is it that the average wage of Americans has declined over the past three decades and, despite existing inflation and rises in the poverty rate, the minimum wage has remained stagnant? It is in the interest of business owners to pay their employees the absolute minimum to ensure their survival and willingness to continute to provide their labor- basic economics. And that's just fine provided that these workers have some way of pushing back. That's why things like the minimum wage are important. People often forget that, left alone, the market will absolutely brutalize the less fortunate in order to benefit the wealthy.

.......:

Fast food places are often paying close to $10 an hour and can't find people that will do the work. And anything the government gets involved with quickly falls victim to the King Midas touch -- in reverse.

Svwhu:

In line with TOG's point, wages have declined while those at the top of the scale make record amounts. They could easily take a little from the top and let their workers make a decent living. It is not necessary to raise prices, that is just what they chose to do to make a point they have the power and no one else.

Svwhu:

When minimum wage goes up, generally other wages follow suit.

Angelo:

And so does the cost of goods to the consumer...etc to compensate for the higher wages that have to be paid - no net gain except to cause inflation which in the end hurts the poor and elderly on fixed incomes the most.

.......:

IE: the net result is inflation.

Svwhu:

Yes, it seems the rich always have the upper hand and are unwilling to give up the slightest amount of their wealth so the people that work so hard for them can live a little better also. One can hope for a better result this time.

Svwhu:

Really do they want to price themselves out of business?

.......:

I strongly suggest a good economics class.

Svwhu:

I would agree that you need one!

Angelo:

Do you have any clue how many business are gone that were not willing to raise their prices? There are numerous commercial spaces available around here because of just that! They tried to operate on a thinner margin than possible to keep their employees and level of service offered to customers without adjusting for inflation.

Svwhu:

Imagine that. Under George W. Bush no less! Who they finding to blame for it now? Well we all know who's fault it is now and that would be BUSH and McCain will unfortunately make things evern worse for everybody who isn't in the highest tax brackets. No worry, It will soon be better for them when Obama takes offices.

Troutshoe:

A while back when the Clintons were scheming to loot the tobacco company's ,one of the first steps was to raise the tax on cigaretts by a dollar. So what you say(because I know you) .Who also smokes and in a greater percentage ,the lower income people .We had a dollar raise in the national minimum wage ,kind of cute I would say.

Angelo:

Yup - pay 'em more so they can give it all back in taxes.

Whipsaw:

It won't. I pay my people from twice to 20 times the minimum wage already. In many markets the minimum wage is not used, the going rate is already much higher.

________________________:

What kind of business do you have, whipsaw?

Angelo:

Same here - but I have numerous clients that pay minimum wage to as many as they can afford. It will cost some of these their jobs unless prices are raised for their goods and services.

MaggieD:

Only thing I'd add is that Federal minimum wage is trumped in LOTS of states by higher minimums already.

Whipsaw:

I am a property services contractor selling to government and corporations. I sell a number of specialized and highly specialized services, I will not list specifics in a public forum.

Since I am primarily selling the time, experience, and other qualifications of my people, my profit margins are quite high, and so is my pay scale. Those who sell products and services with lower profit margins will be severely impacted by a higher min. wage, but they will surely pass the cost back to their clients. This supposed benefit to the working man will just drive inflation.

Whipsaw:

MaggieD, great point, and there are other even higher standards floating around out there. Anyone who sells to any government and most unions already has a much higher minimum wage and benefits package to pay for.

________________________:

My step mother told me today that the minimum wage is going up in Jan. 09. Is she just predicting that the Dem's will win or what?

Angelo:

Probably - and it will only contribute to inflation which is already considerable - look at the cost of gas and food compared to a year or two ago!

Svwhu:

I thought there was one pasted that raised the minimum wage.

Felix:

Workers making minimum wages do not contribute to inflation. This is a fallacy. Let's take a best case scenario for the minimum wage earners. If their hourly rate goes up by a dollar an hour and in the family there are two working persons , assuming no taxes are withhold that will bring an extra $ 80 per week. Now you make your own estimates for a family of four or even two , how much further you will improve your standards of living. People with minimum wage can not even eat enough, can not afford to have cars or any form of entertainment . I see it in every day life.

Angelo:

So some get an extra $80 and the employer has to lay a few off or face raising their prices and loosing business - hmmm - loose employees or loose customers (which would eventually lead to loosing employees as well) - that would be a tough choice. Is it better for some to loose their income so others can make a little more and keep the customers?

.......:

When the minimum wage is indexed to the CPI that drives other Federal budget bottom lines, it's an instant inflation pump affecting governments costs and prices across the board.

Ed:

It will causes prices to rise.

.......:

Yep. Across the board.

Svwhu:

The republicans put down Obama for getting people to consider the possiblity of a better future (hope) and all a republican can ever do is try to slap you down and suck all the hope out of ya.

.......:

Try studying and working to get ahead. It's better for everyone. Why keep lowering the bar for those that don't even try to contribute.

Svwhu:

That is exactly what I'm talking about. You assume that if someone doesn't agree with a republican point of view and actual wants it good for all then they are a lazy bums wanting something for nothing. Nobody is lowering the bar. Why do you thing that hard working people don't deserve to make a decent living? My daughter in- law has almost finished her schooling and she has worked full time while putting herself through school and she has excellent grades. My son put himself through school while working full time and together they Owe about $65,000.00 in student loans. They have two children. They are barely making ends meet now and will soon have about another $600 per month in student loan payments. You people haven't got a clue what it is like for real hard working individuals in this world. You think you are the only ones that know anything about anything and you are so full of yourselves that you can't possible see the real world! It's really pathetic the things you all say!

Angelo:

ins - no they put down the basic philosophy of the party he represents - he just volunteered to be the target. "A better future" - those who are for the most part too lazy to do what it takes to get ahead - vote dem and we will take it away from those who can and give it to you. Quite frankly it is nothing different than what a thief does - politics just makes it legal!

Angelo:

By the way - all three of my (republican) sisters went through the same scenario that yours did - and are better people for doing so - let people work through their struggles - they greatly appreciate what they have when they get to the other end without someone handing it to them after stealing it from someone who has already been through it!

Svwhu:

You are all so full of it! People are not to lazy to do what it takes to get a head. Why are you so ready to assume the worst of your fellow Americans, just to defend the rich guy? Opportunity does not knock for everybody and not all are capable of creating it themselves. A thief is not necessarily a poor person taking from the rich, it is a rich person taking all that a poor person has, keeping the poor person poor and under the control of the rich. That is a more accurate description of the society that we now live in. That is nice that your three republican sisters had the opportunity. There are many that don't. Just so you are clear, my children are not looking for a hand out. I don't believe most people are. That is one very real difference between a republican and a democrat.

Angelo:

"Why are you so ready to assume the worst of your fellow Americans"
I have hired and fired many individuals. The bottom line is most of them were simply lazy and were only looking for a paycheck - not to contribute any more than they had to to get it. They simply sell themselves to the highest bidder - prove me wrong if you think you can!
At times I wish that I would have stayed an employee and not experienced the real world as one does as a business owner - my opinion of people in general would be higher than it is.
I find it interesting that most Democrats like to dig into my pockets so they can feel good about themselves when they give it to someone else. Get your thrills somewhere else - oh yeah - and use your own money to do it!

Looking4answers:

Scarecrow, why should they put in any more than what they need for their paycheck? Why should they care about you or your business if they have no share of the profits? All you're doing is purchasing their labor, and they don't owe you any more than that labor. You get what you pay for. Pay them more and you might be surprised to see what happens to their productivity.

Angelo:

Interesting two way street you are traveling on. In the event that people apply themselves and are as productive as possible the company has more money to work with and can give raises. When people do the minimum they have to do to keep their job they get paid what they are worth to the company. Some individuals have been smart enough to figure this out - most are too lazy and expect the company to do everything for them. You may be surprised to learn that we have had the attitude of "take care of our people, and our business will take care of us" philosophy since we started hiring employees. They interface with our clients and our clients think of them as the company so it is in our best interest to have good employees.

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