RE: An UNBIASED summary of the candidates' views?
July 12, 2012 at 10:29 am
(This post was last modified: July 12, 2012 at 10:45 am by The Grand Nudger.)
Twice as many people working at half the current minimum wage does nothing to create additional tax revenue whilst simultaneously promoting impoverishment. Minimum wage laws are probably the very last thing you'd want to screw with in the arena of employment. Basic services are required to conduct industry and commerce, and if those who provide these basic services cannot afford to feed themselves (let alone purchase the products) then the whole pyramid crumbles. If you're imagining that the going rates for these products and services would fall, I'd have to invoke an immeasurably deep pool of naivety. The markups and margins on most of these products and services are already obscene. It costs roughly 2k$USD to produce 42klbs of tomatoes, just as one example...and that's an industry that does not have minimum wage (or really, any labor)laws......the lions share of that 2k$ cost, btw, the producers expected ROI (assuming the producer and the investor are one in the same, which is often the case with small-mid sized farms).
Matter of fact Tib, if you really want to see what a labor market without minimum wage laws and very loosely restricted and regulated trade might look like, take a look at US Ag. It's a fucking disaster..lol. Lax wage and labor laws promote (read: force) labor intensive low investment business practices, which often happen to be unbelievably wasteful and almost always completely technologically backwards and irresponsible. This is in addition to the whole poverty bit. Un-enforcable trade laws (a depressing subject in and of itself) lead to product concerns and further malfeasance on a routine and reliable basis. Amusing, considering that food production and commodities trading is probably one of the most well-greased markets in the world. This is of course specific to ag, mileage may vary based on industry.
Matter of fact Tib, if you really want to see what a labor market without minimum wage laws and very loosely restricted and regulated trade might look like, take a look at US Ag. It's a fucking disaster..lol. Lax wage and labor laws promote (read: force) labor intensive low investment business practices, which often happen to be unbelievably wasteful and almost always completely technologically backwards and irresponsible. This is in addition to the whole poverty bit. Un-enforcable trade laws (a depressing subject in and of itself) lead to product concerns and further malfeasance on a routine and reliable basis. Amusing, considering that food production and commodities trading is probably one of the most well-greased markets in the world. This is of course specific to ag, mileage may vary based on industry.
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