by hoser 53 Replies latest jw friends
We were having this discussion in the office the other day and we came to the conclusion minimum wage is better because it still adds to the economy vs minimum income which someone could potentially stay at home and do nothing and still get paid without producing a thing for the greater economy.
Thoughts?
Studies being done in various European countries with universal basic income shows that it actually increases productivity, increases the creation of new businesses, and stimulates innovation. All of which helps the economy.
If you know that your basic needs will be met, then you are more likely to start a new business, take risks, go for that dream job that may not pay as much as your current job. Those who are disabled will be able to work part time without jeopardizing their disability checks, which will help them out of poverty.
And if your basic needs are taken care of, then more of your income is discretionary which supports and boosts the economy. It also puts the power in the workers hands, since the economic pressure to stay in a hostile workplace has been removed. It will force employers to treat their workers more fairly and actively create workplace environments conducive to retaining workers.
Its a false dichotomy. Minimum anything sucks. Nobody should settle.
Which is better minimum wage or minimum income?
If you are a poor financial planner, an overspender or have poor spending/attitude towards money, neither.
In the United States we have a minimum wage - sort of...
I remember when I was in my early 20s, just before I started college, I believe the minimum wage was $5.25 where I was living. I applied for a job as a security guard with a small, local security company. I was told I had the job if I wanted it, but that they only paid $5.00 an hour and easy said that it was below minimum wage. I didn't care. I needed income.
In the US we import persons from impoverished nations who are willing to work for below minimum wage or for less than those who are currently doing the work. This is done both legally through work visas or illegally by paying criminal aliens in cash. Then, for those companies who do not wish to deal with the above they simply outsource their work to impoverished nations where persons are willing to work for much, much less then in the United States.
Labor has a value. Minimum wage will not support a person or a family. However, it is not the responsibility of private business to house, clothe, and feed people. Neither is it the responsibility of the government in a free society.
In not familiar with minimum income but in the US they have a minimum wage. In states where the minimum wage is higher the states economy is better. Studies have shown the higher the minimum wage the better the economy. Again it’s obvious from state to state, the lower the minimum wage or in states they have right to work laws which means anti union their economy is usually worse.
" Which is better minimum wage or minimum income " ?
Neither. Better wage and better income is what people need
It's like asking people how they want to die.
" You want to get shot - or slit your throat " ? Peace out, Mr. Flipper
People need to be paid for the work they do. Capitalism and a thriving economy brings more benefits than artificial enforced payments where the government decides to give away other people's money.
If someone is only worth paying $12 then they can decide whether they get that $12 or not. If the government mandates that they have to be paid $15 then they lose their job.
Also, the bump up of wages goes up the chain - the people previously on $15 now want more because they are worth more than the people who were on $12. So all that changes is the scale because all the prices get factored in eventually.
Minimum wage is a short-term vote machine, not a long-term solution.
