Minimum Wage vs Welfare vs The Wealthy

If tax breaks for the wealthy and government bailouts help the economy, please explain this:

http://www.cnn.com/2012/07/25/opinion/henry-owens-minimum-wage/index.html


All this talk about redistribution of wealth, marxism, etc is bullshit. What's going to happen when ALL of the wealth is isolated at the very top of the income pool? For years, the only buying power the middle class has had has been credit. Now that the majority of that has dried up, savings and wages are being re-allocated to keep the bills paid. What happens to the economy when the people that keep it moving, the WORKERS, are all completely broke and everything just stops?

 

You just don't get it. The people at the top have worked hard for their money and earned every penny. They are the engine of the economy. They are the job producers. Phuck the working middle class. They earn what their worth. And yes, I'm being totally sarcastic.

 

I'm glad you added that last line. I was trying to figure out a way to stab you through the internet!:up:

 

Ignoring, just for the moment, the tax cuts for the 1%. Raising the minimum wage WILL increase the prices of goods and services which will, in short order, erode the buying power you increased by legislation. The issue is not the minimum wage. Minimum wage was never intended to be a career path. They are starter jobs. The issue is the overall economy, and that is not just limited to the US. Governement is not going to get us out of the mess, they got us here in the first place.

 

LOL, I just wanted to raise your blood pressure a bit then medicate you with my disclaimer. I am alarmed at the redistribution of wealth that has been happening in this country. It makes me sick. Something is broken.

 

I agree. The issue ISN'T the minimum wage, it's that the minimum wage jobs are all that there are available. There are fewer and fewer good paying, "average person" jobs every day.

 

Tax cuts or increases are not going to change that. Predictable and consistent regulation (since there is no way we will get less) would help.

 

Wrong. Many minimum wage earners support families on one or more minumum wage jobs.

Question: Is there a net loss or gain to the economy/society from a minimum wage? If so, is the cost worth it?

And yeah, US industry shipping jobs overseas had nothing to do with the current economic malaise.

 

uh?

 

Rethink that, and replace average with the middle two quartiles and it makes more sense.

 

This

 

I did not say people didn't try to support a family on minimum wage. I said that it was not intended to be a wage you could use to support a family. Raising minimum wage increases prices and reduces the number of minimumwage opportunites. What is that cost?

 

Tree fiddy. :up:

When a dish dog is making $12/hour, expect your hamburger and fries to cost $25.

How many times per week will you be eating out at that price?

 

Oh hell, going to pay one way or the other. Either through a slightly more expensive meal....or you can subsidize them through welfare......which do you prefer?

 

Neither...no work? no food!

 

What is the current poverty level?????

What is it in other countries????

 

Isn't this another attempt at class warfare spun in a way to make it seem more scientific?

Sorry, I've worked my ass off to get to the level I am (no idea if I'm upper middle, lower upper, super duper upper lower or middle middle upper lower) and I feel no obligation to help anyone else who chooses not to work as hard.

 

Duck62...Depends on the family size and obviously where you live. Not posting all those numbers here. Look it up on that internet thing...