[BUSINESS] The Case for Abolishing Minimum Wage Laws

[gotonudecom]

The Case for Abolishing Minimum Wage Laws

In the end, raising the minimum wage transfers income from less valuable workers who become unemployed to more valuable workers who retain their jobs.

But people acquainted with the dismal science know that no amount of legislation can change the fact that the actual minimum wage is zero, which is what workers receive when the mandated wage rate prices them out of the market.

Currently, between 97 and 99 percent of workers (depending on whether one includes tipped workers) earn more than the minimum wage. So, for at least 97 percent of the American workers, there is some force other than the minimum wage driving up wages.

When the government requires that an employer pay a higher wage, one of three things must happen: the employer’s customers must pay higher prices; the employer’s investors must receive lower returns; or workers’ hours must be cut.

To truly help workers requires that politicians first understand why wages are what they are.

What determines a worker’s wage is the extent to which consumers want more of the things that the worker is capable of producing.

One can’t legislate that a worker earn a living wage any more than one can legislate that a farmer grow enough crops to feed his family—and for the same reasons.

The way to increase wages is to increase the value of workers’ labor. And that happens through education, skills training, and work experience. Raising the minimum wage doesn’t provide for either of the first two, and it makes it harder to obtain the third.

What the minimum wage does do, however, is allow politicians to buy votes from more abled workers by disemploying the less abled.

[TheButcher]

I have always been an opponent of the minimum wage, as stated it makes no sense. Someone in the end has to pay for it and a lot of less skilled and less experienced workers get the short end of it. Let the market place determine the wage not legislation.

[deviantz]

You can not live on minimum wage, it has to be at least $20 an hour to get by.

[gotonudecom]

You can not live on minimum wage, it has to be at least $20 an hour to get by.

DID YOU EVEN READ THE ARTICLE?

[fappmaster]

The last line of the OP says it all

[cimage]

Let's face it, the rich and powerful do not want the lower or middle classes to rise up so they have desperate people who will work for any money.

[gotonudecom]

Let's face it, the rich and powerful do not want the lower or middle classes to rise up so they have desperate people who will work for any money.

Why do people blame it on the rich and powerful?
If the lower or middle class want better wages, they should spend their extra time in a library reading educational books.
Or taking some of the free local classes that will improve their education.
Then try showing up for work ready to work and then working.
Then start looking for your next job with more pay.

I worked my first few jobs at minimum wage back when it was about $3. Mainly cause my step dad, physically forced me to get a job. I had my own business making more money. The lesson I learned, was that I had time to do both. Anyway.
What I learned was that after my employer learned how hard a worker I was/am, I could dictate to a point how much I earned.
I have literally told employers, "either pay me more than everyone else OR I start working like everyone else".
I have also walked off more jobs than most people have applied for.

If you want a raise, earn it, then demand it.

What the minimum wage (laws) does do, however, is allow politicians to buy votes from more abled workers by disemploying the less abled.

Hey if you want to vote people out of their jobs, YOU go ahead and be a dick!

I vote for no minimum wage.
I vote for people getting of their arse and @$#%ing working for a living.

Read a damn book.
The are free at your local library.

[unicams]

If you calculate the hours you work how much does it come to?

[Mitch]

If you calculate the hours you work how much does it come to?

It is about satisfaction for me working for myself and not having a boss, the money i make is more than any other line of work I ever did.

[gotonudecom]

If you calculate the hours you work how much does it come to?

To address your question in two parts. First calculate the hours you work. I must now define "work". We can all agree an what an hour is. I hope!
Work is what must people think of as the action that creates income. IMHO.

I make money while I sleep. Is sleeping work? NO, sleeping is not work. I still reap the benefits of my "work", even if it was last week, last month, last year or in 1995 when I started my work in the Internet field, while I sleep. Still sleeping is not work. FYI, I sleep about 6 hours at a time,average.

When I am awake, I am always doing something to better myself or entertain myself. Most times, both. (We can discuss this more in another thread.)
My main hobby, and main thought in the day is
"how can I make more money from this project/hobby I am working on now?"
Does not matter what it is. My son and I have a collection of "skipping rocks".
https://www.google.com/search?client=fi ... ping+rocks
We are working on a business plan for these rocks. "Pet Rocks" are still a thing. So, why not "skipping rocks".
skippingrocks.com taken
skippinrocks.com take
Here we go.
skippingrocks.ninja is available.
https://www.secureserver.net/products/d ... ocks.ninja
OF course this is an affiliate link to MY website where you can buy domains.

Here is another example of me working.
December 2017 I restarted my Aquarium/Aquaponics hobby. I have since sold,from these aquariums, MTS (Malaysian Trumpet Snails) that breed and multiply like crazy in my tanks. Most Aquarium hobbiest think and believe that MTS are a pest, a blight in your aquarium and next to impossible to eradicate. My hobby is turning these situations into money. For the time involved my hourly rage is most likely currently less than .10 cents per hour.

Then if you include my three new filter designs, I am currently on the second and larger prototype. [Working very well they are.] My hourly wage will drop to a penny an hour.

Then if you include the time I have redesigning a required item for effective Aquarium keeping, 3d printing prototypes of this item, testing the prototypes until we have the printing working correctly and the prototype working as designed and then include the time to install this prototype into the prototype filters and exciting filter adaptions.
My hours are getting up there and I sill have not made any money except the $70 dollars in snail income. The aquariums cost more than that. I have $40 in big air pump.

blah blah blah.
Remind me again why we give a shit about people that are not capable of getting a job above minimum wage. Oh yeah that is like 4% of the employed people, that make less than minimum wage. These people at minimum wage are supposed to be people just entering the market place. They are not supposed to be people starting a career as a person that makes minimum wage.

So I work almost every minute of every day while I am awake and I sleep and dream of what I call work.

Now I know equation to calculate how many hours I work.
All of the hours minus the hours I sleep equal the hours I work. To be completely open (notice I did not say honest. saying honest could lead you to believe I have lied or been less than truthful before.) To be completely open there a many days I do not go to bed. I have a rare sleeping disorder (preterdormi).

365 days, 12 months, 52 weeks, lets ignore moon cycles (for now) and 8760 hours in the year.
8760 minus sleeping 2190
6570 hours awake. Remember because I am who I am and an entrepreneur, I believe that if I am awake I am working.

For ease of mathification Let us say that I earn $24000 per year, 2 thousand per month, $65.75 per day, $461.54 per week. Again leaving out solar cycles.
(How much I really make is NOT your business and most of you would not believe me, anyway.)

That works out to be $3.65 per hour while I am awake.

If you think I only really work 30 hours per week average, then the hourly wage changes to
1260 hours divided into $24000 equals $19.05 per hour.

Because I am an entrepreneur I find it very difficult to track my hourly rate.

I put banners on a site I rebuilt in 2003 with Mambo, I believe. Took me less than 100 hours to convert the majority of the site from HTML to Mambo.
( I performed this exercise years ago for a student to show how I much money I made, in an effort to motivate them, thus the numbers are still in my head.)
Placing the banners took me about an hour. let's say.

The first year, this little crappy, still little crappy site made over $800 in ads income from the new banner software that ran on Mambo.
The cost of the hosting is like $1 per month or less. (because I listen to my own advise on hosting.)
The domain is under $9 per year.
Maybe it cost about $20 per year for this site now.

The first year I made $8 per hour ish on my work for the banners.

The second year the income was about the same, increasing my hourly rate to $16 per hour.
Now it is about $150 per year. I rarely even look at this site except when I click to see it works when I pay the renewal fees.
2003- 2019
16 years
800+800+(150x14) to gain a low average for that time frame.
3700/100 equals $37 per hour. I will say that the $150 average is most likely low, just using it as a made up number for my example cause my actual income is not your business and I am not interested in looking it up. This does NOT include other advertising income and jobs that come from this site. This is JUST the calculations of me converting the site to a CMS and adding the banner management program.

I am posting actual earnings in the "Is there a way to profit from China traffic?" thread.
https://www.sponsorchat.com/viewtopic.p ... 525#p46525

I doubt I have two hours into the China project, However, I have thousands of hours into the project that make the China project possible.
What is my hourly wage for all that work? Dunno, I make a lot of money while I am asleep.

[DeSexGuide]

When I say I am working, that being when online if is not all work. I chat with friends, read the news and play games, so even if I am online 10 hiurs a day my real work time is half that.

[urbanlegend]

The Case for Abolishing Minimum Wage Laws

In the end, raising the minimum wage transfers income from less valuable workers who become unemployed to more valuable workers who retain their jobs.

But people acquainted with the dismal science know that no amount of legislation can change the fact that the actual minimum wage is zero, which is what workers receive when the mandated wage rate prices them out of the market.

Currently, between 97 and 99 percent of workers (depending on whether one includes tipped workers) earn more than the minimum wage. So, for at least 97 percent of the American workers, there is some force other than the minimum wage driving up wages.

When the government requires that an employer pay a higher wage, one of three things must happen: the employer’s customers must pay higher prices; the employer’s investors must receive lower returns; or workers’ hours must be cut.

To truly help workers requires that politicians first understand why wages are what they are.

What determines a worker’s wage is the extent to which consumers want more of the things that the worker is capable of producing.

One can’t legislate that a worker earn a living wage any more than one can legislate that a farmer grow enough crops to feed his family—and for the same reasons.

The way to increase wages is to increase the value of workers’ labor. And that happens through education, skills training, and work experience. Raising the minimum wage doesn’t provide for either of the first two, and it makes it harder to obtain the third.

What the minimum wage does do, however, is allow politicians to buy votes from more abled workers by disemploying the less abled.

with a domain like nude.com you are not living pay check to pay check like 80% of Americans so you would not understand how and why a minimum wage is so important for so many millions of people.

[jag]

Not all countries have a minimum wage.

[pussylover]

Not all countries have a minimum wage.

And look at wages in India, China and a lot of other countries, you can draw your own conclusions on the value of a minimum wage.

[chilli.domains]

How the hell can anybody live on minimum wage, it's just too low. No wonder there are so many homeless people in LA.