VIDEO: Peter Schiff sonning delegates at Democratic National Convention

[NkrumahWasRight Is Wrong]

What a stupid study posted. Minimum wage laws lead to unemployment? That;s economiC fact now? MISS ME

explain to me how a minimum wage adds jobs and doesn't take them away.

 

[Broke Wave]

explain to me how a minimum wage adds jobs and doesn't take them away.

A minimum wage doesn't add or take away jobs, its neutral.

If business A is spending 100 on 10 workers which produce 200 dollars worth of product, and the business requires 200 dollars worth of product to stay afloat, reducing the COST of labour isn't going to increase the efficiency of the business , and this will not magically incentivize new hires. It's like saying that if there was no minimum wage, McDonald's would employee two people to run the grill instead of you doing the job alone.

 

[Turenne]

This shyt is the definition of some smart stupid bullshyt.

 

[Real N Quotes]

LOL.......I bet Van Jones shyt himself when he saw Peter Schiff approach. Jones ran away faster than Usain Bolt.

Democrats: Let's Ban Profits! - YouTube

og, this guy is an idiot

 

[NkrumahWasRight Is Wrong]

A minimum wage doesn't add or take away jobs, its neutral.

If business A is spending 100 on 10 workers which produce 200 dollars worth of product, and the business requires 200 dollars worth of product to stay afloat, reducing the COST of labour isn't going to increase the efficiency of the business , and this will not magically incentivize new hires. It's like saying that if there was no minimum wage, McDonald's would employee two people to run the grill instead of you doing the job alone.

no, its not like saying mcdonald's would employ two people to do the job of one person. but they would have the ability to, if they so chose, with the same cost, if the minimum wage was cut in half, or it didn't exist and they cut salaries in half. if people are willing to work that wage, but mcdonalds is unable to pay it, then those people are unemployed.

McDonald’s and its franchisees hired 62,000 people in the U.S. after receiving more than one million applications, the company said in an e-mailed statement.

These are minimum wage jobs and it shows that there are plenty of people willing to work, if they could find jobs. But with minimum wage laws, instead of companies having the opportunity to bid for these people at lower wages, the job seekers are shut out of the labor market.

It's simple supply and demand economics. There are x number of jobs available at the minimum wage, if the number of those willing to work at that wage exceeds the number of jobs available at the minimum wage, then some will not be able to find jobs. Market wages, as opposed to government controlled lower bound wages, means more firms will be able to bid for workers, until the market clears.

No one is forcing anyone to work at any specific wage. At a market clearing wage, those that want to work at the market rate will be able to do so, and given that McDonald's had to turn away close to a million applicants, it suggests that the minimum wage is causing severe unemployment.

source- EconomicPolicyJournal.com: Proof the Minimum Wage is Causing Unemployment

 

[CourtesyFlusher]

"Democrats can't handle the truth!"

-Jack Nicholson