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Minimum/Living Wage & Employment

 
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Minimum Wage?
Raise it!
100%
 100%  [ 1 ]
Abolish it!
0%
 0%  [ 0 ]
Leave it alone!
0%
 0%  [ 0 ]
don't care.
0%
 0%  [ 0 ]
Something else entirely. (please post the idea)
0%
 0%  [ 0 ]
Total Votes : 1

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Cato



Joined: 05 Dec 2013
Posts: 18
Location: Birmingham

PostPosted: Thu Feb 06, 2014 5:46 pm    Post subject: Minimum/Living Wage & Employment Reply with quote

We have briefly touched on the indirect corporate subsidies that many government benefits programs provide that are intended to alleviate poverty. The Yellowhammer has recently posted an article referencing a Forbes article on how raising the minimum wage will have negative impacts on the lowest skilled workers:
http://yellowhammernews.com/nationalpolitics/alabama-minimum-wage-hike/

Of course, from the other side, an early December article at Salon references a Paul Krugman article of the New York Times saying minimum wage should be raised:
http://www.salon.com/2013/12/02/krugman_raise_the_minimum_wage/

I would like to see more discussion on the impact of minimum wage. The discussion needs to be based on facts, not anecdotal evidence, but buttressed with numbers or logic. Income inequality is becoming a salient issue and the two major parties are basically caricatures of reasonable positions. The Democratic Party insists that income inequality is per se evil and wealth should quite literally be confiscated and doled out according to some amorphorous standard of "common good". Meanwhile, Republicans are fully ensconced in the school that any increase to minimum wage is an anathema to job creation and inevitably leads to inflation.

Given that most of the government benefits programs are federal in nature, what role is there in a state minimum wage policy in particular, and what should be the role of minimum wage laws, if any? What should be the Alabama Libertarian Party's position on this issue of the day?
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Cato



Joined: 05 Dec 2013
Posts: 18
Location: Birmingham

PostPosted: Thu Feb 06, 2014 6:22 pm    Post subject: Reply with quote

I'll get us started first. As with many things in politics, the framing of a question can be a paramount importance to the public's perception. For Democrats minimum wage represents an issue of fairness and pits the haves against the have nots. Republicans frame it as a jobs issue and the rights of small business owners to be free from government intrusion. In addition, Republicans inevitably raise the spectre of inflation, beautifully illustrated in the Yellowhammer article above.

Captruss is onto something with his framing of the issue as one of corporate welfare. The government has deemed there is a minimum lifestyle that no person/family should fall below. Government then maintains this floor through the use of multitudinous means tested benefits programs. Without getting into the merits of those programs, it clearly appears that the government is subsidizing the workforce for those employers who pay an amount equal to, or greater than, the minimum wage yet still below the maximum allowable income for the benefits programs. This corporate welfare angle is never debated precisely because it does not further the agendas of either major party.
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