What are the economic benefits of Minimum wage?
469806
Your question 'Assumes' there are benefits to the minimum wage. The true effect of the minimum wage is to prevent the employment of anyone with job skills not worth the minimum wage.
860256
Of course this sounds like a good idea - when does not making more money not sound like a good idea? Only thing is, with employers having to jump minimum to $7.25, we'll end up seeing the results in higher product and living costs so minimum wage earners are back to not making enough for living expenses.
967833
Unfortunately, many people do not understand economics whatsoever. \n\nPeople who support a minimum wage should have a maximum-earnings cap placed upon them. The earnings could be used as capital so minimum wage earners could get more schooling and develop their own businesses. Pelosi & Kerry & Kennedy are rich enough.\n\nThe minimum wage schtick is just a ploy to get votes from the uneducated. It results in inflation and more jobs going overseas.\nIf it hasn't worked it over the past 40 years, it won't solve the problem now.
969710
what good does the increase in min wage do?  the cost will be passed on to the consumers which puts the people back in min wage in the same boat.  I agree raises for govt is wrong but the whole Idea of min wage is outdated.  Simple economics shows this is a sick cycle that has to stop.
1168486
Yes.  Anyone who claims there will be massive job loss and companies going bankrupt due to a minimum wage increase has no knowledge of history.  No minimum wage increase in history has resulted in that.
882627
Well, in a nut shell:\nThe minimum wage will raise in September 07 to 6.85\nEvery year the minimum wage will be raised in accordance with inflation\nThe employer must keep a record of all employee wages for the time of their employment and three years after\nAny employee or someone working on behalf of the employee can obtain these records without charge to them\nSmall business's that have a prophet of less then 250K are not subject to the law...neither are family members or household employees, and servers.\n\n\nIf you have any more questions edit your post, I'll be back and try to answer.
374205
Minimum wage, likely, which changes per state.  However, waiters and waitresses get MUCH less and are dependent on tips.
835413
Depends where you live here is the breakdown by state:\n\nFederal Minimum Wage Law Level $5.15 \n\nAlabama No minimum wage. \nAlaska $7.15 Automatically adjusted to remain one dollar over federal minimum wage should that change. \nArizona No minimum wage. Increasing to $6.75 effective January 1, 2007 pursuant to Arizona Proposition 202.\nArkansas $6.25 \nCalifornia $6.75 Increasing to $7.50 on January 1, 2007 and to $8.00 on January 1, 2008. [1] \nSan Francisco $8.82 \nLos Angeles $9.08 With health benefits[2] \n$10.33 Without health benefits[2] \nColorado $5.15 Increasing to $6.85 on January 1, 2007. \nConnecticut $7.40 Increasing to $7.65 on January 1, 2007. \nDelaware $6.15 $6.65 increase in 2007, $7.15 increase in 2008. [3] \nDistrict of Columbia $7.00 Increased on January 1, 2006. \nFlorida $6.67 Rises with inflation. \nGeorgia $5.15 \nHawaii $6.75 Rising to $7.25 effective January 1, 2007 \nIdaho $5.15 \nIllinois $6.50 $6.00 for employees under the age of 18 \nIndiana $5.15 \nIowa $5.15 \nKansas $2.65 For employees over the age of 18 (applies only when the federal Fair Labor Standards Act does not). $5.15 federal minimum wage takes precedence, overriding the state minimum. \nKentucky $5.15 \nLouisiana No minimum wage. \nMaine $6.75 Will rise to $7.00 in October, 2007 \nMaryland $6.15 \nMassachusetts $6.75 ($2.63 for service (tipped) employees, $1.60 for agricultural employees; legislature passed increase to $7.50 starting January 1, 2007 and to $8.00 January 1, 2008)[4] \nMichigan $6.95 Increasing to $7.15 July 1, 2007 and to $7.40 July 1, 2008 \nMinnesota $6.15 \nMississippi No minimum wage. \nMissouri $5.15 Increasing to $6.50 on January 1, 2007. \nMontana $5.15 Increasing to $6.15 on January 1, 2007. \nNebraska $5.15 \nNevada $5.15 Increasing to $6.15 on January 1, 2007. \nNew Hampshire $5.15 \nNew Jersey $7.15 \nNew Mexico $5.15 $9.50 in Santa Fe, as of 2006 \nNew York $6.75 Increasing to $7.15 on January 1, 2007 [1] \nNorth Carolina $5.15 Increasing to $6.15 on January 1, 2007 \nNorth Dakota $5.15 \nOhio $5.15 Increasing to $6.85 on January 1, 2007\nOklahoma $5.15\nOregon $7.50 Adjusting to $7.80 on January, 1st 2007 \nPennsylvania $5.15 (Per act signed into law July 10, 2006, this will increase to $6.25 on January 1, 2007 and to $7.15 on July 1, 2007. For companies with ten or fewer employees: $5.65 by January 1, 2007, $6.65 by July 1, 2007, and $7.15 by July 1, 2008. The current tipped wage, $2.83, will not increase with this Act\nRhode Island $7.10 \nSouth Carolina $5.15 \nSouth Dakota $5.15 \nTennessee No minimum wage. \nTexas $5.15 \nUtah $5.15 \nVermont $7.25 \nVirginia $5.15 \nWashington $7.63 Increasing to $7.93 effective January 1, 2007\nWest Virginia $5.85 Increasing to $6.55 effective 7/1/07 and $7.25 effective 7/1/08 \nWisconsin $6.50 \nWyoming $5.15
477321
its a short term fix. it doesnt address the real problem of inflation. after min wage goes up all other prices go up from rent to cheeseburgers. costs of producing goes up causes costs of living goes up. for those who make just above min wage there is no pay raise just cost raise. the only ones this never effects are the wealthy. very bad idea. its exactly the same as when unions go on strike. the companies that employ them have to charge more to cover whatever the unions were demanding. this has a ripple effect driving prices of everything up eventually forcing the unions to strike again next year usually for the same things they were demanding last time. heres our show on money, listen to what dr griffin has to say http://www.philipdru.com/griffin_stream.html
948005
None of my KIDS made minimum wage when they had summer jobs, so it will only affect us when prices go up because companies have to pay their workers more.\n\n**they made more than the MW
702426
Pro:  The minimum wage ensures that mentally disabled/challenged workers are not legally taken advantage of, in terms of pay.\n\nCon:  The economic value of a job is not changed by the minimum wage.  Raising the minimum wage simply raises the prices of goods & services (inflation) and increases the attractiveness of foreign outsourcing.\n\nThe minimun wage is a great campaign issue because most voters want/expect a raise.  In reality, it is a worthless promise of increased wealth.  In relative, inflation adjusted terms, the minimum wage earners will still be poor and have the same buying power.
1007993
IN THE STATE OF WASHINGTON THE MINIMUM WAGE IS $7.25/ HOUR, ONE OF THE HIGHEST IN THE NATION.  UNFORTUNATLY WASHINGTON IS ALSO HOME TO SOME OF THE HIGHEST PERSONAL TAXES IN THE NATION.  THE HIGHEST GAS TAXES IN THE NATION TOO.  SO WHAT GOOD DOES IT DO.  YOU COULDN'T LIVE ON THE MINIMUM ANYWAY
452667
There's really no such thing (unless you are talking about the federal minimum wage, which is, I believe, $5.15/hour).  The market determines the wages, which can fluctuate widely depending upon specialization, employer, and area of the country.
983110
Minimum wage does not meet the basic standard of living for Americans.
1065356
Price Stability (Low Inflation)\n\nIf wages go up then you cannot hire too many workers.\n\nExample:\nIf today Congress passed a new Bill to lower the Minimum Wage to $3.15 then most companies could hire almost twice the number of workers they now have and that would reduce unemployent.\nThat law is never going to be proposed by any Congressman because it would not be popular and that would cost him the election. Despite the fact, low unemployment is good for everyone it also causes less Crime and more Profits.\n\nOn the other hand, if the minimum wage is changed to $10.30 per hour then most companies would have to fire half the employees to make the same profits and that would increase unemployment and crime.\nIf a Congressman proposes that law it will be very popular and it will probably will give him an election. \nYes, the more damage you make the more popular you are.\n\nHigh wages cause inflation.\n\nIn the United States of America the wages are the highest in the world and that is eventually is going to cost millions of jobs.\n\nSince 1994 companies have been moving out of the United States of America to Mexico, China and India.\n\nThat trend cannot be reversed unless you bring the mexicans to the United States of America (As opposed to send the factories to Mexico)\n\nIn a company moves to Mexico not only employment is reduced but also taxes and if you are unemployed you cannot spend too much money.\n\nIn fact, Mexico is now the 12th richest country in the World because of this.
427782
I would say that anytime is the right time. At least, anytime since 1996, the last time they rose minimum wage. \n\nThe economy has really that boost since post 9/11 though. History shows that a rise in minimum wage have increased consumer spending power and overall, improved middle class financial responsibility by promoting personal savings.\n\nWith elections coming up for many political positions very soon, I actually think that minimum wage may become a plank in many candidates platforms. It is on a lot of people's minds. I think that it is really needed.
986996
The simple answer is: because they can!  Something happens to people who go to Washington DC that makes them greedy.  They (usually) are making less money than they would if they were CEOs or private-practice lawyers, so they keep increasing their salaries.  They seem to forget that the average working person does not get nearly the benefits that they do, yet must pay for all of the "pork" in the spending budgets.  Their salaries must be kept separate from the minimum wage, though:  The minimum wage was put in place to maintain a floor for people beginning to work.  It was considered a starting point.  The minimum wage was never intended to be the "living wage" that we hear about from those who want it raised.