Elliot
Lv 7
Elliot asked in Social ScienceEconomics · 9 months ago

Why is there so much opposition to raising the minimum wage, when it’s been shown that the benefits outweigh the downsides?

Yeah, some people lose jobs, but many more are able to increase their living standards, spending more of their income and stimulating the economy as a whole.

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  • Anonymous
    8 months ago

    Why should you reward people for being either really stupid or lazy. These losers at McDonalds are the ones whole drive up to work in an $1200 POS car that has $3500 worth of wheels and tires on it. Get out and shuffle across the parking lot with their Air Jordan's untied, talking on their $800 iPhone. Screw 'em, they need to get their priorities in life straight. 

  • 8 months ago

    Fire some so some others can make more. Sounds like a liberal's idea of Utopia.

  • 9 months ago

    Actually, it's a lie that jobs are lost. Because more people have money to spend, demand increases, and more people are hired to fulfil it. As to your question, the opposition hates the thought that anyone except the wealthiest few should have decent lives. The wealthiest and most unscrupulous people can't BEAR the thought that they don't own every thing and every one on Earth.

    Edit to respond to some people answering: Look at Min wage in civilized countries -- many times higher than ours, but the price of, say Big Macs are THE SAME. It's a LIE that ALL wage increases are passed on to consumers. The owners, major investors, and CEOs do NOT need to keep 99.% of the money big businesses take in.

    Look at recent history. When we had a living minimum wage, EVERYONE was better off; we had a THRIVING middle class, the biggest and most comfortable the world had EVER seen. Since we've stopped paying workers, we have been losing that, as well as losing standard of living, and even life-span.

    Just compare things in the US to how things are in civilized countries. Denying those who work from a living a living wage is immoral and stupid.

  • JuanB
    Lv 7
    9 months ago

    I would generally agree with you that the minimum wage in your area is probably wrong.  I live in Canada and it is probably a lot higher in my area.

    But you lost me at factual evidence in some cost benefit analysis.  Where is it?  

    So I'd have to argue that if you have an arbitrarily set minimum wage, it must be the right level for your area's ideals and circumstances.  Raising it would be wrong, or it would have been done already.  And if the system is completely out to lunch on this, then the correct thing to do is to get rid of the minimum wage altogether and let the market forces dictate equilibrium.  i.e.  If you feel you don't make enough then quit your job and find a better paying job,or move to a better location, or upgrade your skills.

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  • Oiy
    Lv 6
    9 months ago

    In the first part, people will not get a decent job (Milton Friedman). The younger ones will not be able to learn more on the job to climb the ladder. The second part is more serious. It will lead to inflation. So the increased margin of income will be gone with the wild so sooner than people can expect.

  • 9 months ago

    Economics is a complex convoluted discipline. No one, not even economists, fully understands it. So it's not at all surprising that people fail to understand how minimum wages affects economies as a whole and some individuals in particular.

    Republicans are still touting the Laffer Curve and its trickle-down economy even though the empirical data show that it's faulty. Wealth simply doesn't trickle down from the rich to the poor.

  • 9 months ago

    Just increasing expenses without increasing productivity is simply inflationary. If an owner of a fast food place has half his income taken away by an increase in the minimum wage, he will fire the worst half of his workers.

  • y
    Lv 7
    9 months ago

    True, they have more so they spend more, but to pay them more. Services and products also increase, so the gain is very short term if any at all.

    Starbucks was a perfect example, made  big deal about increasing everyone's wages in Washington State. Claiming it was a big success and that it results, in just what you are claiming. It was only a month two after that they instituted an increase in cost across the nation.They claimed, and their supporters claimed, that it was due to the cost of coffee beans, still hear it around today. Only according to the markets, coffee beans were at a ten year low at the time.

  • cmac'm
    Lv 5
    9 months ago

    It has not been shown the benefits outweigh the downsides. we don't want to incentivize no-skill or low skill jobs. Minimum wage jobs are not designed as living wage jobs. There are plenty of high paying jobs available. Increasing wages so quickly puts a burden on small businesses. The labor costs, which is the most expensive part of a service or retail store, are passed on to the consumer- meaning that it's basically a zero-sum game. the extra couple of bucks doesn't mean anything if prices all go up a couple of bucks.

    Then the question becomes well how much should they make, what should the minimum wage be? $15 is a not a "living wage". the next the question is, well if the low-skill minimum wage workers are now making as much as the managers make- then how much should the managers make? Everyone needs a raise which is unrealistic for a business to absorb.

    We should abolish the Federal minimum wage.

  • Anonymous
    9 months ago

    I doubt that you have any data that supports your opinion. If you do please show it.

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