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Romney: We should raise minimum wage (usatoday.com)

submitted by Aznb01p

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[–]ayePALINDROMEeyeLibertarian Conservative 5 ポイント6 ポイント

Well then I'm glad he wasn't elected.

[–]Wannabe2good 5 ポイント6 ポイント

it was long suspected ...it's crap like this that made Americans question his degree of conservatism in 2012

[–]Denog 0 ポイント1 ポイント

A republican governor from a state like Massachusetts is a dead giveaway.

[–]Steakonomics 0 ポイント1 ポイント

The whole debate just seems kind of dumb to me. We're out of the point in history where low skill, low paying jobs were supporting the economy. We no longer have huge factories popping up constantly and high paying salaried positions are becoming more and more skilled. Minimum wage jobs shouldn't be the endgame for workers so it shouldn't be being described as something you need to be paid huge amounts for. But thats just my two cents. Personally, I also don't think that places like walmart or mcdonalds would even raise prices, I think they'd just absorb the costs.

[–]Gerbils74 -2 ポイント-1 ポイント

After reading that I realized something. Minimum wage at the church wherein work $10 meaning that if minimum wage was raised to 10.10, most likely, our wage would be raised to 10.10 and create more minimum wage jobs and making more people struggle to keep up with the impending universal price hikes if the minimum wage was raised.

[–]SunDroppity -1 ポイント0 ポイント

I like Romney - but this is an issue that I disagree with him on.

Not only does the minimum wage promote laziness, but it isn't economically sound.

As an example, I'll use Walmart. Walmart pays their employees the minimum wage. Once the minimum wage increases, obviously pay for the employees is raised to comply with the law. For a few months, Walmart bears the costs and takes on more expenses with their new pay rates - but that won't last long. After a while, Walmart notices that their profit margin is closing - and the shareholders won't have it. So Walmart has no option but to raise the prices on the products that we need - food, clothes, medicine, etc. Then, the minimum wage earner is also paying these higher prices, and the cost of living goes up to match the same expense:wage ratio that existed before the increase.

Additionally, small business is adversely affected because they don't share the same financial cushions as a large corporation such as Walmart.

In the end, the people who bear the costs of the wage hike are the middle class, because their salary isn't always adjusted for cost-of-living, but they still pay the higher prices.