Minimum Wage Sucks Because

[SuburbanFarmer]

If a job requires people with $20 per hour skills to perform, guess what the job would pay."

The lowest wage that anyone would accept for it.

[Speaker to Animals]

Nation > Markets

Because allowing citizens to to buy and sell among themselves is a serious threat to the nation.
That's why it's and adversarial either/or relationship, right?

Because the nation is more important than markets. That something is profitable for businesses does not make it good for the nation. Indeed, it could be ruin for the nation. Placing markets before nations is among our age's worst mistakes.

[Fife]

Muh Nation!

[DBTrek]

If a job requires people with $20 per hour skills to perform, guess what the job would pay."

The lowest wage that anyone would accept for it.

If someone who can competently execute the position is willing to do it for $18 per hour, then it's not a $20 per hour job. It's an $18 per hour job.
Supply and demand is some confounding shit, eh?

[Speaker to Animals]

Muh Nation!

Then get fucked and leave if you hate it that much.

[Fife]

Muh Nation!

Then get fucked and leave if you hate it that much.

womp womp

[heydaralon]

What would happen if they raised the minimum wage, and lowered the maximum wage? You would get a median wage that resembled the mean wage and the mode wage. Thus you would get a minimum range.

[DBTrek]

Think about the bottom of the labor pool. I'm talking retirees, people with down syndrome, and young teenagers looking for their first job. Every time you hike minimum wage, the bottom of the labor pool takes a hit. Many of these people don't have a productive skill set worth $15 per hour. So every time you jack the minimum wage, more and more of these people are shut out of the labor market and forced onto assistance programs for their survival.

You also see employer cut more workers down to part-time or lay them off completely - because the (new wage * number of workers) means cuts have to be made for profitability to survive.

That's the downside.

On the upside, every minimum wage worker who is not fired or put on part-time duty gets more money.

That's the tradeoff. Where you stand on minimum wage should probably depend on where you stand in the labor pool. If you're not a super-effective minimum wage worker who will likely survive the cuts, then the odds are it won't benefit you.

[Fife]

IMNSHO, when thinking about the minimum wage law, it's useful to think of any kind of government coerced price fixing.

That's all the minimum wage is.

If the government mandates tomorrow morning that the price of gasoline can be no lower than $10/gallon, who will be most adversely affected? How long until gasoline speakeasies are running a nice racket?

Same thing goes for lower-valued workers. They are made to either become wards of the state or criminal outlaws working for cash unbeknownst to the taxman.

Nice government gang we have running things. It makes the mafia look like the Salvation Army.

[DBTrek]

Love those roads tho.

Getting a woody just thinking about them.