The only time I earned the minimum wage was as a 16 year old with no skills in my first job--that wage rate continued for less than 48 hours when I began to receive tips. It was virtually impossible for me to earn the minimum wage rate in my job unless I threw my tip money into the garbage. Six months later I received a performance raise and never earned the minimum wage again. People act like the minimum wage is an important tool to help people earn more income--it isnt. Instead it acts as a barrier to enter, preventing teenagers and unskilled workers from getting opportunities. It helps labor unions shield members from competition. It benefits firms like Costco as their competitors labor costs are artificially ratcheted up. Lets be honest, if you earn the minimum wage for a long period of time, and you complain about it, youre doing something wrong. You have to try something different. Government intervention is unlikely to be the margin of difference between your misery and a life of happiness. -RS-
Posted on: Sat, 06 Dec 2014 01:05:53 +0000
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