Post by Almightynam on Dec 21, 2006 14:20:33 GMT -5
Nam is going to rant now, come listen.
First Rant, Minimum wage:
Minimum wage is too high. What? Nam thinks its too high? Yes! Nam thinks its too high. I'm sure you guys are wondering why. Minimums in anything money related is bad, and I'll tell you why. First, Wages are based off of productivity. Now people think its all about how stingy the boss is, but thats simply not true. What will happen if a boss was stingy and underpaid his workers? The workers would work just as hard as they get paid, which if its too little, then the boss would lose money, or the worst case scenario the workers quit. The boss cannot afford to be stingy because he wants to maximize profits. Now that I got that explained, I will now talk about minimum wage. The nature of a minimum is taht there is a block that cannot go lower. Now if there is a person who doesn't have any skills but wants a job, an employer is understandably going to pay according to how much the person is worth. But if there is a minimum, the employer is forced to overpay the worker. Now, this is what happens, the employer will start making competition to get his positions, because regardless if the worker is skilled or not, he'll have to pay the worker as if he was skilled. So what does this create, a surplus of unskilled workers, which makes it harder for anyone to get a job. The reason why you can't seem to get a job is because of minimum wage. Now, if you raise minimum wage, you're making the unskilled workers to get an even harder time to gain skills, and the skilled workers can now ask for a higher wage, because it'd be cheaper to give them a raise than to pay 2 unskilled workers to do the same amount of work. So, How is this a good idea?
Now what does that mean for everyone else. Prices everywhere are going to skyrocket, because employers are going to have to charge more because they have to pay their workers more. In other words, In order to get paid a dollar extra, you have to pay 2-3 extra dollars for everything else. Again, how is this a good idea for anyone?
First Rant, Minimum wage:
Minimum wage is too high. What? Nam thinks its too high? Yes! Nam thinks its too high. I'm sure you guys are wondering why. Minimums in anything money related is bad, and I'll tell you why. First, Wages are based off of productivity. Now people think its all about how stingy the boss is, but thats simply not true. What will happen if a boss was stingy and underpaid his workers? The workers would work just as hard as they get paid, which if its too little, then the boss would lose money, or the worst case scenario the workers quit. The boss cannot afford to be stingy because he wants to maximize profits. Now that I got that explained, I will now talk about minimum wage. The nature of a minimum is taht there is a block that cannot go lower. Now if there is a person who doesn't have any skills but wants a job, an employer is understandably going to pay according to how much the person is worth. But if there is a minimum, the employer is forced to overpay the worker. Now, this is what happens, the employer will start making competition to get his positions, because regardless if the worker is skilled or not, he'll have to pay the worker as if he was skilled. So what does this create, a surplus of unskilled workers, which makes it harder for anyone to get a job. The reason why you can't seem to get a job is because of minimum wage. Now, if you raise minimum wage, you're making the unskilled workers to get an even harder time to gain skills, and the skilled workers can now ask for a higher wage, because it'd be cheaper to give them a raise than to pay 2 unskilled workers to do the same amount of work. So, How is this a good idea?
Now what does that mean for everyone else. Prices everywhere are going to skyrocket, because employers are going to have to charge more because they have to pay their workers more. In other words, In order to get paid a dollar extra, you have to pay 2-3 extra dollars for everything else. Again, how is this a good idea for anyone?
