Quote:
Originally Posted by sperbonzo
Minimum wage was NEVER meant to be a "living wage". It was meant to be a starting level for young people just getting into the work force. If we push it into the level of a "living wage", then people will be trapped there for their entire careers, and young people will never get any job experience since no one will hire them for the same wage that they have to pay everyone else. Right now less than 5% of people earn minimum wage, but as the union lobbies and the government push it higher, watch more and more people being stuck there, and more and more teenagers out of work.
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The minimum is the bottom floor. It influences all wages - even the wages of those who earn more than the minimum.
Workers have been busting their ass. Productivity has risen significantly over the last few decades. Corporate profits have skyrocketed. It's time to bump the minimum up, so the WORKERS can finally partake of the pie, too. Not only would it be right, it would, as is the subject of the post, be good for business and the economy. This is a consumer driven economy, and the consumers don't have money to spend. There's a logjam, and it needs to be broken.
