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@TheAtheist
what you are describing is the effects of increasing everyone's wages, basically. or, how do you differentiate the difference in effects of increasing the minimum wage, and increasing everyone's wage?
Minimum wage
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@TheRealNihilist
@n8nrgmi
If you are working for me, and you are working 2 hours a day, and the minimum wage is 1 dollar an hour, then that means you are making 2 dollars a day. If the minimum wage then gets raised from 1 dollar an hour to 2 dollars an hour, I could simply reduce your work hours from 2 hours a day to 1 hour a day, in order to compensate for it, so you would still be making 2 dollars a day, and on top of that, you lose out on valuable work experience, which is something that a lot of people, especially young teenagers and young adults, need.
Raising the minimum wage didn't help you there, in that scenario.
If you are working for me, and I can only afford to pay you up to 2 dollars an hour, and that is the current minimum wage, and then the minimum wage gets raised to 3 dollars an hour, and I can't afford to pay you that much, then I simply fire you, so now instead of making 2 money an hour, you're making no money. Even if I didn't fire you, I would eventually go out of business due to not being able to afford to pay you that much, and you would still be left without a job and without money, regardless.
Raising the minimum wage didn't help you there either. In fact, it hurt you.
Human beings need food, water, shelter, and other basic necessities to survive, so let's say that each of these 4 things cost 1 dollar each (1 dollar for food, 1 dollar for water, 1 dollar for shelter/rent/mortgage, and 1 dollar for necessities). Let's also say that the current minimum wage is 1 dollar an hour and you work 5 hours a day, so you are making 5 dollars a day. After you make your 5 dollars for the day, you spend 4 out of those 5 dollars on the things that you need to survive, and then keep the extra dollar for yourself as profit. Now let's say that the minimum wage goes up from 1 dollar an hour to 2 dollars an hour. In that case, the company/companies that sell the food, water, shelter/rent, and necessities would all likely raise their price of each of those things in order to compensate for the minimum wage increase, so now you are paying 2 dollars for food, 2 dollars for water, 2 dollars for shelter/rent, and 3 dollars for necessities. Now you would be making 10 dollars a day since 2 times 5 is 10, but you would also have to pay a total of 9 dollars for each of those necessities instead of 4, since the price of those also went up, so at the end of the day, you would still be left with a daily profit of only 1 dollar.
Raising the minimum wage didn't help you at all, because you're now earning more, but also paying more too.
Raising the minimum wage usually leads to at least one of those 3 aforementioned outcomes that I have described (either you have your hours reduced like in outcome#1, you get fired because the employer can't afford to pay you like in outcome#2, or you just have to pay more for other things and not really have a big increase in profits like in outcome#3).
Raising the minimum wage does more harm than good.
Also, TheRealNihilist says to me:
That PragerU link you gave. Had a source from 1984.
but this comment doesn't actually refute any of PragerUniversity's actual arguments. Just that one statement about a source. In fact, what PragerU says about the minimum wage is pretty much what I'm saying: that if you raise the minimum wage, it usually leads to certain bad outcomes, like the ones I mentioned.
Looking at some of the other comments here, I noticed that TheAtheist said:
Higher taxes and minimum wages may give "the masses" more money in the beginning, but eventually, there will be no more money left to give to them. If your taxes are too high, businesses will close down or leave to other countries, which results in higher unemployment, which will make "the masses" even worse off. Same thing with deciding how much companies should pay their employees: in the long run, this will result in an economic disaster.
Isn't this exactly what happened in Venezuela, which resulted in their downfall? Why would you want something like that to happen here in the United States? Because that's pretty much what will likely happen when you raise the minimum wage so much, raise taxes on the wealthy so much, or try to make the poor rich by making the rich poor.
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@Christen
Using a source from 1984 and applying it to today's context is impractical and not helpful. It is like me cherry picking homosexuality being amazing because the Roman did it and they did well. They also appealed to right wingers that left wingers believe this because it is from a left leaning news source. Their entire shtick is persuasion over information. If it was the latter I wouldn't get such a bite-size video that he mentions a 1984 paper to be a reliable source to be used to compare what is going on in 2019. I'll happy debunk PragerU for you in a debate because I feel like that is more worthwhile to me than telling my informative arguments here. Sorry if you wanted me to debunk PragerU here. I simply stated obvious concerns.but this comment doesn't actually refute any of PragerUniversity's actual arguments. Just that one statement about a source. In fact, what PragerU says about the minimum wage is pretty much what I'm saying: that if you raise the minimum wage, it usually leads to certain bad outcomes.
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@TheRealNihilist
Wait. Which source exactly did they use from the 1984's and which context of today did they apply it to? I was going to manually check each source myself to see which one was it until I realized that they used over 30 different sources.
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@TheRealNihilist
Fine. I support abolishing the minimum wage.
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@n8nrgmi
You didn't respond to my last message. Does that mean I win? :D
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@Greyparrot
College is not a job. It is an education. You are paying to recieve an education from the college.
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@Alec
Thanks try to be more clear next time.
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@n8nrgmi
if you have the bottom making beans, then people close to the bottom also make beans plus one, such that they won't spend money on an array of goods and services, driving the economy.
What does "the bottom" mean exactly? Bottom of what?
What does "making beans" mean? You meaning like farming beans?
What does "people close to the bottom" mean? Bottom of what??
What is making "beans plus one" supposed to mean? Plus one what?
Lastly, if you're in poverty, why would you want to "spend money on an array of goods and services"??? That's the LAST thing any poor person should be doing. You've got to SAVE your money, not spend it all away in a reckless manner for the sake of "driving the economy"!
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@bmdrocks21
i'm more about having a minimum that isn't low, not so much one that is higher. paying people beans would be bad for employment and the economy.
but even if a minimum decreased the amount of jobs, it would still be worth it. by far most employers can afford to pay seven dollars an hour, the current wage. so what is the net effect? even if some jobs are lost, it's not that many, and ultimately we get what we wanted to begin with, people at the bottom being paid better, improving their lives.
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@n8nrgmi
It depends on how high the minimum wage is to determine how many jobs are lost. I agree $7.25 can be afforded by most companies. It is below the equilibrium wage for most jobs, which is why most jobs pay more than the minimum wage. I don't think most companies would offer much less than that because they have a demand for labor. They have to fight against other companies for that worker, so they entice them with higher wages.
Anyway, I am just very much against federal minimum wages. The cost of living in California is much higher than Kansas, so if they were to both have minimum wages, they shouldn't be the same.
This is my main problem: industry differences. All companies are required to pay the minimum wage to employees. However, restaurants cannot afford that, but Amazon(or any warehouse) can. Some industries can afford it because the labor is more valuable.