Koch: Eliminating The Minimum Wage Will Help The Poor

[OnePercenter]

Koch: Out of touch with reality.

In the U.S., economic inequality has grown rapidly, and the lagging minimum wage is in large part to blame. Some states have moved to address the growing gap between what people earn and the rising cost of living, but nationally the minimum wage has barely moved in decades. Little to no evidence exists to support Koch’s claim that the minimum wage impedes companies or causes them to fire employees. In fact, raising the minimum wage to $9 would pump up to $48 billion into the economy by the next year and ease the income gap for 15 million low-wage workers

Billionaire Koch Brother Says Eliminating The Minimum Wage Will Help The Poor | ThinkProgress

 

[depotoo]

actually it would, as it would give more teenagers the chance to be hired, as well as being able to up the wages for those that deserve it.

 

[Avatar4321]

It undeniably would.

More manufacturing jobs in the US. Lower labor costs creating lower cost of goods and services.

As long as we artificially raise the cost of labor in the US, we will have less of it. Let the market do it's job.

 

[Katzndogz]

The way to resolve the minimum wage mess is to stop applying the failed principles of equality.
In many countries in Europe and even in Australia, jobs are in categories. Each category has its own minimum wage. A teen mopping floors and stocking shelves should absolutely get a different minmum wage than someone else with a different skill set. The teen would be happy with a job that doesn't support a family of four.

The minimum wage is a horrible practice.

 

[Glendower]

actually it would, as it would give more teenagers the chance to be hired, as well as being able to up the wages for those that deserve it.

I disagree, I believe it would drive down wages across the board for about 85% of workers. Especially in times like now, when there is no shortage of labor. The vast majority of minimum wage workers are adults, not teenagers.