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Politics : Formerly About Advanced Micro Devices

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To: SilentZ who wrote (736209)	8/31/2013 11:38:09 PM
From: Tenchusatsu	1 Recommendation Recommended By TideGlider Read Replies (3) of 1576949

Z, Do you have any historical evidence that raising minimum wage will lead to an increase in unemployment? Studies differ on the effects of raising the minimum wage. Sometimes the effects are to cut back hours or even cut wages for the higher-ups, the latter obviously being the ideal outcome for liberals. But there is no denying that the impact of higher labor costs is real and significant. And for many small businesses that survive on razor-thin margins, that impact can be the straw that breaks the camel's back. There are many other variables involved, but the whole point is that wages are ultimately set by the market. You're only paid as much as what someone else is willing to accept for the same work. The minimum wage is there to prevent overt exploitation and to set a floor on wages, but that's it. It's never meant to provide a "living wage" because that's a rather arbitrary standard that doesn't take into account free market economics. If McDonald's had to pay its employees $15/hour, the cost of a meal would go up 68 cents. Bullshit. Tenchusatsu

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