Get Full Essay Get access to this section to get all help you need with your essay and educational issues. If the minimum wage continues to be a mandate which is a relatively expensive amount for a minimum wage, the businesses will have to increase their product prices. This therefore will increase the work efficiency and decrease the price of the goods. Minimum wage sectors increases the retail price of 0.
Submit Government setting wages or prices always has disastrous unintended consequences Economies flourish when government gets out of the way and the free market, through the time honored law of supply and demand can set wages, instead of corrupt politicians looking to buy votes of low information voters.
These laws always have unintended consequences. Minimum wage laws have created a magnet for illegal aliens to flood into our country and take jobs below minimum wage, under the table, while politicians who created this mess look the other way. China is now the largest economy in the world thanks to minimum wage laws driving all our manufacturing jobs overseas.
Instead of acknowledging and competing with a global labor force, we have abandoned blue collar jobs that we are "too good for" and given away these jobs and the tax base they provide to China, Mexico and other countries whose manufacturing technology, robotics, etc.
Liberal policies have brainwashed the public and eroded our economy. Today the public accepts it as a "right", but it has always been a socialist ponzi scheme that relies on a stable or growing workforce to sustain it.
Now that baby boomers are beginning to retire, the ponzi scheme is exposed and what was 20 workers supporting 1 retiree will go down to 3 supporting 1, which is unsustainable.
Likewise, the public has been brainwashed into believing there should be a minimum wage, only now progressives have injected a new phrase "living wage" into the lexicon, hoping this will become the new standard. Socialism is popular where people are poorly educated and clever politicians like Bernie Sanders can demonize corporations and the rich in order to excuse government theft in the name of buying votes from the growing mass of low information voters, voters too uneducated to understand socialism has never worked in all of recorded history.
Yet they flock to hear him as if he is the solution to all our ills. Read "The Idiot Vote", a book about the base of the Democratic party. It is a short book, very entertaining about the history of the Democratic party.Should the Minimum Wage Be Abolished (i.e.
Reduced to $)? In a Nutshell. Yes. No. Three Strikes Law (Pros & Cons, Arguments For and Against, Advantages & Disadvantages) Abortion (Pros & Cons, Arguments For and Against, Advantages & Disadvantages).
Apr 09, · Should We Abolish The Minimum Wage? For decades, Americans have been debating the need for the minimum wage.
In the latest Intelligence Squared . Many people cringe at the thought of abolishing the minimum wage, but government standards for specified payment by employers has left hordes of people unemployed, says critics of minimum wage laws.
Self-worth of people would improve when the minimum wage is abolished and there is more emphasis on jobs. A. Marginalized workers Minimum wage harms a large percentage of the working groups, mostly the marginal workers which includes teenagers, the less educated workers and the more aged workforce.
Minimum wage should not be abolished because it was cause very high inflation of prices, because if everyone is getting paid more, the prices of other things will rise as well.
Minimum wage is a good starting point for everyone, those that try to live off of minimum wage should have tried . The minimum wage should be abolished if you believe that labor markets are efficient.
An efficient market is one that prices all goods their intrinsic value *.
In the case of a .