Should the federal minimum wage be lowered, raised, or eliminated? Please give details as to why/

Comments

• Being against a law requiring minimum wage has nothing to do with greed. Minimum wage only harms low wage workers.

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  by Anonymous on September 16th, 2009

• that is your view
  in europe it give low wages workers the considered minimum decent
  the problem is capital is greed and bosses get millions and not more to thier workers nad use the poorest to give even lower wages . so you go on live on less than the minimum wage and come back to me

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  by sharpjwe on October 11th, 2009

• Yes, and my view is based on the reality of economics. On an individual level, raising a person’s wages will help that person. On a systemic level, raising minimum wage normalizes wages for low income workers (thus promoting lower wages), while simultaneously causing inflation (thus further increasing the income disparity). If you cannot afford to rent a home at the current minimum wage, then raising that wage will not change this result. This is because the price of rent is based on demand.

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  by Anonymous on October 12th, 2009

• well in short there is no solution
  the poor stay poor
  the rich die rich

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  by sharpjwe on October 12th, 2009

• This is certainly not true in America. For example, most (over 93%) of the new millionaires in America are self-made.

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  by Anonymous on October 13th, 2009

• where you get that figure
  all the rich families and empires are surely more that 7%

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  by sharpjwe on October 13th, 2009

• It was from an article in Forbes magazine about two years ago. And the article addressed the exact false conclusion you just gave. There are very few family empires in America. And more often than not, kids who inherit vast wealth from their parents blow the money.

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  by Anonymous on October 14th, 2009

• well good to know that
  good luck

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  by sharpjwe on October 14th, 2009