[rollei_list] Re: OT: Minimun Wage Laws

I agree with Mark. Better than a minimum wage is enough jobs.

Marvin.
 
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-----Original Message-----
From: eroustom@xxxxxxxxxxx

Date: Thu, 21 Aug 2008 02:38:36 
To: <rollei_list@xxxxxxxxxxxxx>
Subject: [rollei_list] Re: OT:  Minimun Wage Laws


A very reasonable opinion on something I've been having to think about 
recently, Marc.
As both an emplyer and a fellow (pinko liberal) to Richard, I have mixed 
feelings about min. wage.

On one hand you're right, min. wage keeps me from hiring unskilled help to do 
menial tasks.
A fourth scenario, is that (a higher) minimum wage would cut ineficiency. Sure 
it cuts out jobs, but it cuts out jobs that aren't essential or profitable. As 
an employer you have to think harder about how to justify the cost, and as an 
employee you have prove your worth. Darwinian capitalism with a socialist twist.
A fifth scenario is an increase in cash, or under-the-table, pay which is bad 
for everyone - no state revenue, no write off for the employer, no SS earnings 
or tax credits for the worker.

But min. wage, as long as it isn't too low or too high, is a safety you really 
can't get by without, anymore than you can get by without food or 
transportation regulation that attempt to insure we don't all get poisoned, and 
blown up in our cars. People earning min. wage are in a tough spot to begin 
with. If they can't command better wages than that, they'd make even less 
without a law. They're poor already... and an open market would force them to 
compete even harder with the same disatvantages, only to become more of a 
burden on the state. Unless our mill towns all go back to work producing goods 
for export, our economy will continue to depend on people with change in their 
pockets.

Selfishly, I wish min. wage laws exempted business under a certain size.

E.

-------------- Original message -------------- 
From: Marc James Small <marcsmall@xxxxxxxxxxx> 

> At 08:07 PM 8/20/2008, you wrote: 
> 
> 
> > How in the world is a minimum wage law a fraud? I 
> >suppose the idea is that employers should be able to have 
> >slave labor. Workers have almost no rights whatever in this 
> >country already and it irks me when people argue that that's 
> >the way things should be based on some obscure 
> >interpretation of law. 
> > I am one of those commie, pinko, liberals that think 
> >individuals should have some power over their own lives and 
> >be able to live decently. 
> 
> Well, in regard to the second point, yes, I 
> agree. You can refuse to work. I see nothing 
> wrong in the organization of labor unions. I do 
> see something evil when the government mandates 
> union membership. Stand up for yourself, 
> brother. Don't expect others to do so. 
> 
> Minimum Wage laws are blatantly 
> fraudulent. Review your copy of Ludwig von Mises 
> as he addresses this in detail, as do many 
> others. Such laws reduce the numbers of jobs 
> available. The economics are simple: if 
> Merchant A has $1000 a week to pay for wages and 
> the minimum wage is $5.00 an hour, then he can 
> only hire 5 folks -- $5 an hour time 40 equals 
> $200, and 5 times $200 equals that $1000. Now, 
> if the minimum wage goes up to,say, $7.50 an 
> hour, then the merchant is most desperately 
> squeezed. Three things can ease this: 
> 
> a), and the most probable: he lays off people 
> 
> b) and the hopeful solution, his workstaff 
> understand the problem and start producing more 
> to accommodate the problem, and this is unlikkely 
> 
> c) the least likely solution is that the 
> merchant will raise prices and, if he does so, 
> then you and I and every other person in this 
> nation are paying the price. I am most unhappy at THAT solution. 
> 
> Lochner was good law and it is a shame that the 
> US Courts have abrogated it. Let's dump 
> mandatory union membership and minimum wage laws 
> and get back to basic economic realities, to the 
> benefit of this nation. Sure, some folks will 
> hurt but, what the hey, folks are hurting under 
> our current system and more folks would benefit 
> and the benefit would be more widely spread if 
> mandatory union membership was eliminated and if 
> the minimum wage laws were done to death. 
> 
> I doubt that this moderately socialist Supreme 
> Court will do much with the union-membership bit 
> but they might toss out the minimum wage. The US 
> economy would boom upwards immediately -- 
> Richard, this would include YOUR 
> 401(K) account. You are a capitalist, 
> howevermuch you claim the contrary. Me? I don't 
> have a 401(K) or an IRA but I DO trust the US 
> economy as long as Big Labor and Big Government leave it alone. 
> 
> Marc 
> 
> 
> msmall@xxxxxxxxxxxx 
> Cha robh b�s fir gun ghr�s fir! 
> 
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