The Minimum Wage: Good or Bad? [POLL]

[Ultimatum]

The United Kingdom is receiving a pay rise with the introduction of a higher minimum wage (called the National Living Wage). The vast majority of the populace is in support of this and will be used as a strong weapon by the Conservatives in the next election.

Is an increase in the minimum wage that only?: weaponisation of politics to appease the less intelligent of the working class?

I believe that this is another layer of Government bureaucracy that will make people redundant through a short-term shock. The minimum wage is what caused our steel and cement industry to crumble.

 

[Deathbydefault]

The United Kingdom is receiving a pay rise with the introduction of a higher minimum wage (called the National Living Wage). The vast majority of the populace is in support of this and will be used as a strong weapon by the Conservatives in the next election.

Is an increase in the minimum wage that only?: weaponisation of politics to appease the less intelligent of the working class?

I believe that this is another layer of Government bureaucracy that will make people redundant through a short-term shock. The minimum wage is what caused our steel and cement industry to crumble.

Let's say we do away with a minimum wage, what will happen?
Imagine the scenarios, it's not like there's a lot of kind hearts at the top of the business world.

Might as well do away with the working age restriction laws as well, perhaps take away health and safety regulations, just to (ironically) be safe.

 

[Lyndon]

Minimum wage helps all the people either working for minimum wage, or close enough that their wages are raised to be higher than minimum, everyone else pretty much suffers from the inflation caused by business raising their prices to pay the higher wages, for a self employed person like me, if I don't raise my prices, I end up paying more at restaurants that have to raise their prices to cover higher wages, the thing about businesses is they don't raise there prices just enough to cover the higher wages, they raise their prices even more, and use the minimum wage hike as an excuse to gouge the public, so all in all minimum wage helps the poorest working for minimum wage, and everyone else benefits very little or suffers. All in all I still think its a good thing though, because its only fair and just that you should be able to support yourself and /or family off a minimum wage job, its only fair.

It definitely causes inflation, I've seen it here in California, every time the minimum wage goes up a dollar, the price of a restaurant meal goes up a dollar, or even more. For instance at the Denny's diner when the minimum wage was $6 a hamburger and fries cost $6, now that the minumum wage is $10, the same hamburger and fries cost $10.

 

[bobhikes]

Minimum wage in the short term is Good. It gives people a short period of extra money. It raises peoples self worth for a short time. It creates more profits for corporations in the short term.

The negatives if you'll call them that.
The stock market will react negatively at first if done by the federal government.
Middle Class and rich will have prices rise without wage growth in the short term but wages surpass in the long term.
Badly run businesses may go out of business.
In a few years we will need to raise minimum wage again.

A better solution would be a minimum forced salary increase for retaining employees tied to the CPI instead of this valuation bull. If you want to keep the employee you value them enough to raise their salary.

 

[Augustus]

Good for people. Good for the economy.

There's always scaremongering about it that consistently turns out to be totally untrue.

 

[Sunstone]

From what I've read, the minimum wage hike in Seattle hasn't caused the devastation predicted in the conservative media.

http://www.seattletimes.com/busines...-not-falling-from-seattles-minimum-wage-hike/

http://www.investors.com/news/econo...ifed-seattle-restaurant-jobs-new-data-say-no/

 

[Buttercup]

Legislation was just passed in California for all State workers to receive a minimum wage of $15 to be slowly implemented over the next six years. This will affect millions of people. If you live in California and know how expensive it is to live here, this hike is sorely needed and justified.

 

[Lyndon]

If you live in California, you have no idea how expensive it will be to live here by the time the minimum wage gets up to $15/hr.

 

[Revoltingest]

If you live in California, you have no idea how expensive it will be to live here by the time the minimum wage gets up to $15/hr.

Then it should be raised to $25/hour.
That will fix things.

Hey, have you forgiven me for making fun of your hair a few months ago?
(It was only cuz I'm jealous of your luscious locks.)

 

[YmirGF]

If you live in California, you have no idea how expensive it will be to live here by the time the minimum wage gets up to $15/hr.

I knew if I stuck around long enough, I'd eventually find a topic we agree on. Hey, you're a pretty funny looking conservative media toadie. What's with that? @Lyndon

 

[Buttercup]

If you live in California, you have no idea how expensive it will be to live here by the time the minimum wage gets up to $15/hr.

I'm a small business owner who has two employees. I've been paying them $14.50 an hour for a couple of years, hasn't done me in yet.

 

[YmirGF]

Then it should be raised to $25/hour.
That will fix things.

Hey, have you forgiven me for making fun of your hair a few months ago?
(It was only cuz I'm jealous of your luscious locks.)

$25.00 is far too little. I think they should bump the minimum wage to $85.00 per hour. It's only fair.

 

[YmirGF]

I'm a small business owner who has two employees. I've been paying them $14.50 an hour for a couple of years, hasn't done me in yet.

Skinflint!

 

[Revoltingest]

I'm a small business owner who has two employees. I've been paying them $14.50 an hour for a couple of years, hasn't done me in yet.

Back when I had employees, I paid many much more than that.
And I paid some much less.
It depended entirely upon what they were worth.
These days, I'd be looking into robots.
(They can be programmed to not be alcoholics. Really!)

 

[Buttercup]

Skinflint!

They also get two weeks of paid vacation starting the first year.

 

[YmirGF]

They also get two weeks of paid vacation starting the first year.

What? No unlimited vacay time? Really. I never took your for a Scrooge McDuck.

 

[Buttercup]

Back when I had employees, I paid many much more than that.
And I paid some much less.
It depended entirely upon what they were worth.
These days, I'd be looking into robots.
(They can be programmed to not be alcoholics. Really!)

There's no way my employees could be replaced by robots and I'm completely serious. Plus, it would be much more expensive to buy robots, I'm sure.

 

[Revoltingest]

There's no way my employees could be replaced by robots and I'm completely serious. Plus, it would be much more expensive to buy robots, I'm sure.

I am investigating software which would eliminate some of our human effort.
This way, my son need only work 15% of the time on the job, instead of 25%

 

[Milton Platt]

The United Kingdom is receiving a pay rise with the introduction of a higher minimum wage (called the National Living Wage). The vast majority of the populace is in support of this and will be used as a strong weapon by the Conservatives in the next election.

Is an increase in the minimum wage that only?: weaponisation of politics to appease the less intelligent of the working class?

I believe that this is another layer of Government bureaucracy that will make people redundant through a short-term shock. The minimum wage is what caused our steel and cement industry to crumble.

What do you mean "will make people redundant"?

Also, I am curious about your comment about steel and cement.

Can you explain why a minimum wage caused your steel and cement industries to crumble??? Are you saying that because the wages were raised, they could not compete with offshore industries? What percentage of their workers were being paid a minimum wage and how much was the hike? Could the real reason at least partially be inefficiency of a government run operation? The reason I ask is because I remember that the MG's and triumphs were just buckets of bolts when I was growing up. The Lucas electrical systems were an absolute joke among mechanics.

We have had some issues with steel and other heavy industries here in the U.S.
Mostly, it was industries moving offshore to get out of union contracts that made it impossible to compete with offshore companies. Those that didn't do that generally closed. I do not think any industries went belly up over a minimum wage hike.

It is a little two faced for everyone to complain about work being sent offshore all the while buying these products and services hand over fist. When I was growing up in the 60's and 70's the father of a friend of mine was always saying "you should only buy things made in the USA" to support the labor here. Of course, his car was assembled in Mexico from parts made in several other countries, his TV was Japanese, his watch was Swiss, etc. My point being, people always talk a good game....but when it impacts their lifestyle, well............

 

[metis]

In today's day and age, minimum wage is both an economic and moral must.