>be faceless void >mfw I have no face
No, I wasn't imaging a world like that at all. Don't straw man.
You're assuming that everyone currently on minimum wage will have their wages dropped if minimum wage was removed. Many will, sure. Not all. My sister's wage was $13 before the minimum wage was increase to $13. You're also assuming that current prices are standard and that removing minimum wage would not affect prices, or if it did it would increase them. To the contrary, businesses who have enough employees would be able to lower wages, and also lower prices.
More likely, a lot of these businesses would keep prices the same and just pay their staff less, and pocket the difference.
Maybe. They'd then have to deal with competition from other businesses who DO drop their prices a little.
The end result will mean more people will have an income,
"an income" is not the end goal. Being able to live off your income is the goal. You'd be very hard pressed to live on a $7/hr wage.
I know someone who lived off $35 a day, in Auckland Central. Of course he was by himself and didn't have anyone else to take care of; I imagine that's the same for most minimum-wagers.
I don't know where you get this idea that people would prefer being jobless to having an income, no matter how small. 6.6% of New Zealanders are unemployed; I'm sure most of them would prefer earning $7 an hour to $0 an hour.
prices will drop in certain markets (particularly groceries, restaurants, retail stores, etc. which rely on entry level workers for labour), and the market will more accurately reflect actual costs and wages.
The market at the moment does reflect "actual costs and wages". The actual wage is the minimum wage, designed to give people a minimum amount of money to live on. If you reduce the minimum wage, you haven't magically made the cost of living go down, all you've done is enabled employers to turn people more into wage slaves than they already are.
The minimum wage is far above the minimum wage required to live.
Also, while wages are obviously a component in the price of goods, for things like supermarkets where it is very high volume with low margins, most of the price paid by customers comes from the actual cost of the goods themselves. If supermarkets were able to pay $10/hr instead of $13/hr, and some of them did this, you might be lucky to see your bag of chips go from $2.49 to $2.29. Big woop. Same sort of thing with The Warehouse; if the minimum wage was reduced I'm sure they would lose more in revenue than they'd save in employment costs.
Then the market would more realistically reflect actual market circumstances rather than being artificially inflated by a high wage floor.
And a 20 cent drop in price for each item in an average family's shopping trolley adds up to quite a large saving each year. Big whoop indeed!
Now for restaurants, the wage costs make up a large amount of the menu price (hence why some places charge a 15% public holiday surcharge), but if you're on minimum wage already you probably don't eat out at restaurants much. So the fact that restaurants are now cheaper because the minimum wage has gone down (and likely your income) doesn't actually help you, the minimum wage worker. It does help everyone else though; but they aren't the people that need help.
The people that most need help are the people without any income at all.
In addition, the majority of people buying food from my current place of employment (a food court) are not minimum wage earners;
So minimum wage workers aren't going to benefit from your boss putting his prices down then, are they?
No; minimum wage workers aren't the only people in the world ya know
Although zero-wage workers definitely would benefit from wages being dropped and more openings being made available for them to be employed.
business would not decrease at all
Unless your current customers work in industries who rely on minimum wage workers, who have less income and so their businesses have reduced demand, flowing through to your own. That is what happened in the early 1990's when Ruth Richardson slashed benefits.
Their market is increased because more people are employed due to lower wages. Individuals might not buy as much as previously, but the number of individuals is increased.
and might increase if prices dropped due to cheaper labour (never mind that my boss underpays several workers anyway
)
So you have a scumbag employer who breaks the law. You should dob him in.
You have to be kidding, right? If his business was closed down, I'd be unemployed. And it wouldn't be easy for me to find a new job. In addition, approximately 20 other staff would go from anywhere between $7 and $13 an hour to $0 an hour, and also have difficulty finding new employment. Factor in the losses his suppliers get from not being able to sell him goods, and unhappy customers who can't have our food, and the world's a much worse place.
If the people in my workplace (and many other workplaces I'm sure) were able to find higher paying jobs, they'd go in a flash. And some do. They don't work for less because they want to help the business, they do it because they have no other alternative. Removing minimum wage would most likely give them more opportunities to find higher paying employment (plenty of places would hire more staff at $10 an hour if they could, which is definitely higher than $7 an hour).
@raynimagi I don't know enough about the constitution to argue with you about it
all I know is that the 16th amendment, allowing taxation, may not have been ratified correctly.
Red classic.
"In short, their absurdities are so extreme that it is painful even to quote them."