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Minimum Wage Is Killing Capitalism

January 20, 2013

To the Readers’ Forum: Shovel ready jobs have gone the way of the dinosaur in the U.S.A. These jobs can be brought back. however, to do so, the shackles must be removed from capitalism....

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Jan-20-13 1:10 AM

Larry, congrats on writing the dumbest letter of the month.

lol, the minimum wage is actually low right now, adjusted for inflation. Minimum wage doesn't kill businesses, the fact that the economy has taken a hit, and customer's can't afford to spend alot of money in small businesses, THATS what is hurting small businesses.

LOL, the idea that minimum wage [a salary barely able to pay a month's rent in most apartments] is a 'greedy' endeaver shows how out of touch you are.

Try working the minimum wage for awhile. See how your viewpoint changes. Businesses shouldn't be guaranteed slave labor to survive.

The last way to help fix an economy is to start paying the everyday consumer even LESS money. But again, congrats.

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Jan-20-13 1:24 AM

jamestownfan18 is proof that we no longer teach capitalism in our schools.

What was an educated letter will go over the heads of many readers who simply think that if the government passes laws, the economy will abide by them to no ill effect. It's no different than legislating new laws of physics.

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Jan-20-13 1:29 AM

danyay is proof that we no longer teach common sense in our schools. Paying the lower middle class consumer even LESS money is the LAST way we should be trying to boost the economy. You want small businesses to do better? Then get consumer's the ability to consume? Lowering minimum wage is the last way to do it. Its amazing how out of touch some people are.

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Jan-20-13 1:31 AM

Capitalism doesn't mean slave labor lol. Capitalism means the ability to make a profit using employees that earn enough money to pay back into your system....

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Jan-20-13 1:38 AM

Hence the name 'minimum wage' because like you said 'employees that earn enough money to pay back into your system'. Trust if companies didn't have too they pay A LOT less in wages. An they would hire more people too.. for less. If I was in business and had no rules I pay you the least amount I could... Because in business I am in it to make $$ not be a humanitarian. Just to point out the flawed attempt... although I believe we should be ranked on how much money we are making for a company that way the minimum would be for the ones that just go there to collect... and then raise up for the ones that make me the money.

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Jan-20-13 1:41 AM

"If I was in business and had no rules I pay you the least amount I could..."

Yep. And doesn't take alot of brains to understand what that would do for the economy lol. People who can't afford to buy, don't spend.

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Jan-20-13 2:28 AM

What hogwash!

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Jan-20-13 2:48 AM

Sorry Jamestownfan18, a "salary" is something you pay to someone whether they work 10 hours a week or 100 and they make the same amount of money, usually a lot more than minimum wage. Shows how really out of touch with a dictionary you really are.

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Jan-20-13 2:51 AM

aww, poor jazzie...picks on semantics instead of addressing the issue...not THAT is out of touch lol.

the facts remain: the LAST thing we should do is pay the lower middle class consumers even less money.

Sorry righties.

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Jan-20-13 3:11 AM

Raise the minimum wage and the prices will simply rise in proportion. How else do business owner's offset the higher wages? And if only minimum wage workers see an increase, everyone else pays more money for everything with while not receiving any increase in their pay.

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Jan-20-13 5:07 AM

They hire illegal Mexicans and pay them 1/4 of Minimum Wage.

Those Mexicans then send the money to Mexico, problem solved.

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Jan-20-13 6:12 AM

How Stupid, Why not kill child labor laws too?

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Jan-20-13 6:28 AM

Nobody could live on minimum wage at this day and time. What does the author propose to bring back slavery or go back to $3.35 an hour? You kidding me!!!

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Jan-20-13 7:22 AM

The disparity between union wages and others created an artificial worth and pay bubble. You had to pay for that UAW lifestyle if you wanted a car. That allowed them to have two. You had to pay for the cadillac insurance programs and vacation homes for the steel workers. That's why you needed to make more money. They figured their gang membership earned them the same rich boys toys their bosses had without bothering to go to college or invest anything other than some hard labor. When cereal costs $5 a box, instead of $.50 it's somebody's higher lifestyle and the government regulations you pay for. Im looking forward to it all falling down. We've been asking for it for decades, and the Democrats are on the fast track.

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Jan-20-13 7:34 AM

So let me see if I've got this straight. According to the letter writer, government employees were complaining they didn't earn as much as those in the private sector, so the government imposed a minimum wage on the private sector. Huh??? Maybe we should look at the lack of intellect and critical thinking as contributing to the death of capitalism.

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Jan-20-13 7:59 AM

unions last form of communism, eliminate them and things will right themselves.

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Jan-20-13 9:14 AM

The concept of capitalism is for the owner of a business to make as much money as possible. The biggest expense a company has is it's employees. So if they just eliminated the minimum wage these companies would pay their employees as little as they could in order to ensure that the company profited as much as possible. This would have a devasting effect on the economy and would probably kill America as we know it. Employees in unskilled jobs would be earning $4.00 an hour. They would not be able to contribute un any meaningful way to the economy and would be forced to go on welfare and other entitlement programs. I agree with the author that taxes kill capitalism so they should reform the taxes on small business but they should no way get rid of minimum wage. We would have even a bigger unemployment problem than we have now. Why would people even want to work if they were going to make peanuts.

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Jan-20-13 9:39 AM

So you have an employee you are paying minimum wage. They work full time for you. That means you would be doling out a huge $15,080 for the year. That based on 2080 hours per year. Said employee is living in an apartment paying, oh $500.00 per month. Can't have them living too high, can we? $6000 for rent for the year. That should leave them plenty to get by. Well, wait, they need gas to get to work. $35 a week. Nice little 95 Camry, 160,00 miles. $140 a month or so. Do you see where I am going here? It is called MINIMUM wage not LIVING wage. It was enacted partially to stop greedy business owners from taking advantage of poor economic conditions. Move to a "Right To Work" state to get your revenge on unions. By the way some of them have minimum wage laws higher than NYS.

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Jan-20-13 9:57 AM

"Since 1980 the income of the top 1% has risen 275%, after inflation the typical hourly wage has risen by $1.23." Paul Krugman

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Jan-20-13 10:20 AM

The disparity in income only indicates dishonesty at all levels. I wonder what Krugman would report as contibutions to the economy comparison between the top 1% and people on an hourly wage?

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Jan-20-13 10:35 AM

"The disparity in income only indicates dishonesty at all levels." What do you mean? Where is the dishonesty? Could hourly income have gone up by more but they are hiding it? Recessions are the result of lack of demand, those hourly workers spend most of any wage increase soon after getting it. The wealthy tend to sock extra money away and not create as much demand. Some times socking money away is good, not in a recession.

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Jan-20-13 10:38 AM

Listen to Krugman on Moyers & Company 1/11/13.

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Jan-20-13 11:14 AM

Are you kidding me? Let me see now.. I own a fast food franchise and If I can just get the wage lowered by a dollar an hour I can then buy that 2nd vacation home in Hilton Head that I have had my eye on..WTF

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Jan-20-13 11:36 AM

Brilliant, duckster!! You know, if you cut your employees' wages by a buck and a half, you can take an extra couple of weeks each year to swing by the Cayman Islands to check on your, um, investments.

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Jan-20-13 12:47 PM

XJTown and Jamestownfan said it best. The worst way to stimulate a recovering economy is to make it harder for the poorest consumers to put cash flow back into it. The idea that its the minimum wage that is hurting small business is quite myopic.

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