RE: "They'll just raise prices if thy raise the minimum wage."
April 16, 2014 at 10:57 am
(This post was last modified: April 16, 2014 at 11:00 am by Heywood.)
(April 16, 2014 at 10:11 am)Pickup_shonuff Wrote:(April 16, 2014 at 10:10 am)Heywood Wrote: Just take money from the rich and give it to the poor through a progressive tax rateTotally down.
You have to remember that a minimum wage makes it illegal for a person to sell their labor for a price which is less than that specified by the government. Minimum wage is a restriction on an individuals freedom.
I am very sympathetic to closing the disparity between the rich and poor. I just think it is stupid to think the government can close that disparity by monkeying with the labor markets. If they do...some people are screwed.
Suppose for instance you are a hiring manager and you have two applicants that are equal in every respect save one. One applicant just got out of prison for theft. You are forced to pay $10.10 an hour. The ex con begs you for a chance to show that he has reformed his ways. Why should you even consider taking on the extra risk of hiring the ex-con when you have another candidate you feel will do the job equally well?
However if the ex-con was allowed to sell his labor at any rate, the ex-con could agree to work for less....thus compensate you for taking on the risk of employing a known thief who promises he has reformed his ways.