That's cute, but in the real world, facts back me up. In 2015, 8 of the 10 countries with the highest national minimum wage ranked ahead of America on Forbes “Best Countries for Business” list. Further, Scandinavian countries such as Denmark, Norway, Sweden, and Finland rank in the top 10 for business, and are known for paying relatively high wages despite the fact that they have no statutory minimum wage.
... A high minimum wages is the direct result of a country being a good place for business. Look at what Ireland did in the 90s, look at the Brazil, China, India, and Russia have done, look at what's happening in sub-Saharan Africa.
Meanwhile, in America, another round of layoffs is around every corner, people are put on 6 hour/day shifts to avoid giving them benefits, aaaaaaaand employees are paid peanuts. All in the interest of maximizing the already massive profits made possible by those very same employees.
If I wasn't divorced with small children, I'd seriously consider moving to one of those countries.
Wait, are businesses in those other countries allowed to pollute the very water their citizens drink just to save a few bucks?
Most companies laying off people are undergoing massive change, or their businesses are suffering greatly, it’s adapt or die. People wouldn’t be forced to work 29 hours or less if the ACA had used the traditional 40 hour/week definition. Are you against schools and municipalities cutting hours too? The belief that U.S. employees are paid peanuts is absurd. Our minimum wage ranks 11th among OECD nations, and wikipedia ranks it 15th out of 154 countries. Keep in mind that’s just the ranking of our federal minimum wage, 30 states have instituted higher wages. While our nominal minimum wage may seem low, our purchasing power is 10th globally. Further, at $41,071, the U.S. boasts the world’s highest average income after taxes and transfers, and the highest net household wealth at $163,268. Luxembourg was second on income at $40,914, Switzerland was second on wealth at $120,265. Would you like me to go into why you’re wrong about profit maximization of should I stop there?
Forgive me, as I don't have time to fact check atm, but I hear that our minimum wage hasn't kept pace with inflation. If true, that seems like a bad sign, and something the greatest country in the world wouldn't abide.
Let's say, just as a hypothetical, that I work somewhere that has had layoff after layoff the past half dozen years, but the admins are the ones running the place into the ground. Why should the employees, many of them college-educated, be forced to do the work of 2 or even 3 for the same pay?
I totally get the adapt or die thing. My problem is that we're adapting to 3rd world countries, lest our remaining jobs be shipped there. That has always seemed the polar opposite of patriotism to me, but I admit, it isn't just business' fault. It's us, the consumers'.
Sorry for not giving your comment the proper attention, I'm just super wiped out right now. I'm at the end of my 3 day weekend with the kiddos. :D
Here's an answer regarding the minimum wage: The assertion that the minimum wage hasn’t kept pace with inflation is technically true, but only when adjusted for inflation using the CPI, regarding average hourly wage, and only because the minimum wage doesn’t include fringe benefits. Average hourly wages adjusted for inflation via CPI have only increased 5.58% since 1964. However, there are several problems with this conclusion: CPI notoriously overstates inflation, which understates growth of real wages, there are some other more technical problems with it I can go into if you want. Instead of adjusting via CPI, we should adjust via the Fed preferred and more appropriate PCE index. This adjustment raises growth in wages from 5.58% to more than 35%. In addition to this growth in wages, over the last few decades, employees have been receiving an increasingly larger portion of their overall compensation via benefits like health care, paid vacation, and hour flexibility...
... Using the PCE, growth in total compensation of employees increases from more than 45% to over 87%. And all of this still before we factor in purchasing power! According to the Bureau of Economic Analysis, spending by households on many of life's "basics"—food at home, automobiles, clothing and footwear, household furnishings and equipment, and housing and utilities—fell from 53% of disposable income in 1950 to 44% in 1970 to 32% today.
Why regulate everything? Why have a maximum wage for politicians And a minimum wage for other jobs? Certain kinds of jobs are worth more or less money. If you really think that minimum-wage is the key to prosperity let everyone $50,000 including stay at home moms.
There are too many people that want evvvveererrrrrryyyyything to be regulated by government. A government is people. People are corruptible and lazy. Therefore government is corruptible and inefficient. I do not need more of that.
If I wasn't divorced with small children, I'd seriously consider moving to one of those countries.
Wait, are businesses in those other countries allowed to pollute the very water their citizens drink just to save a few bucks?
Let's say, just as a hypothetical, that I work somewhere that has had layoff after layoff the past half dozen years, but the admins are the ones running the place into the ground. Why should the employees, many of them college-educated, be forced to do the work of 2 or even 3 for the same pay?
I totally get the adapt or die thing. My problem is that we're adapting to 3rd world countries, lest our remaining jobs be shipped there. That has always seemed the polar opposite of patriotism to me, but I admit, it isn't just business' fault. It's us, the consumers'.
Sorry for not giving your comment the proper attention, I'm just super wiped out right now. I'm at the end of my 3 day weekend with the kiddos. :D
I'll respond to the points you raised when I have some time!