The Truth about the Minimum Wage

feeseminars asked:

Scripted, animated, and produced by Steve Patterson. Special thanks to Julia Patterson and Chuck Grimmett. Want to learn more? Here are some resources about the economics of the minimum wage:.

Broker Sucks?

25 thoughts on “The Truth about the Minimum Wage

  1. BanLiveExport

    diet help

    There are a few Problems with a Low Minimum Wage
    1 – The Lower the Minimum the Less Tax people will pay.
    2 – The Lower the Minimum Wage is the More Welfare they will recieve.
    3 – The Lower the Minimum Wage is the Less money people have to spend. The
    less money people have to spend. If a person has no money they are not
    going to go out and spend and stimulate the economy.

    Reply
  2. Egg Bacon

    wholesale mobiles

    CRAPPY RIGHT-WING PROPAGANDA! how much the koch brothers paying you??? this
    is stupid because it doesnt acount how WORKERS GET PAID MORE so there is n
    ounemployment if they put money back into the economy! right-wing idiots
    cannot understand this. in fact, as Elizabeth Waren said, if minimum wage
    had kept trck with inflation, right now itd be $22 PER HOUR! fuck the
    democrats. im on Team Warren! #RaiseTheMinimumWageTo22

    only right-wing fucktard buffons think we should get rid of the minimum
    wage.

    Reply
  3. ManOfDeath567

    Files

    All these statements about welfare spending are bogus. If we raised MW, we
    will be spending MORE money on welfare, because people will be unemployed.

    Not to mention the increased prices, which means consumers will be spending
    more. Ever thought of that, liberals? 

    Reply
  4. kamikaze afterparty

    free games

    Load of self entitled libertarian bollocks. “Increasing the minimum wage
    increases unemployment” (Shame there is absolutely NO EVIDENCE of this.
    Perhaps look at Scandinavian countries with a higher minimum wage rather
    than jump to conclusions that satisfy your own self entitlement. A Lasiez
    Faire free market is just an excuse for the rich to exploit the poor which
    is why history if full of labour movements being suppressed violently by
    the state. “But why not stop there, lets go back to this 19th century
    Libertarian Utopia where children can get there fingers chewed off working
    in factories before oppressive child labour laws interfered?”

    Reply
  5. Christopher Gilbert

    twenties

    Our society is based on several rights, the right to life, liberty, and
    property. Now whether or not these rights truly exist or are only
    constructs of our imagination do not matter, what matters is our society
    has adopted them as truth and our laws are based on these truths. With that
    said, when a man or women starts a business that is their property, and the
    decisions they make with that property will determine it’s success. If they
    choose to pay minimum wage, and another chooses to accept it then that is
    an agreement between two consenting adults. If no one chooses to accept it,
    then they will be forced to pay more, either way it is between them, no one
    else.
    The other argument is that rich people are taking advantage of poor people
    through low minimum wage, and they buy favor in Washington to keep things
    as they are and that forcing a higher minimum wage will set things right.
    Here is a little rich people math for you [milk = 3.89 a gallon with
    minimum wage at 7$] minimum wage is forced higher by we the people to 15$
    an hour milk=7.89 a gallon. The rich guy has never and will never take a
    hit, they will simply pass the new cost on to the consumer as always, and
    everyone will be in the same boat. They call it inflation, but we know what
    it is simply theft, you can’t win either way.

    The only way to solve what some of you see as a problem, is to change the
    rights this country was founded on, do away with what we as a society have
    deemed as moral. In the process laws will be changed to reflect the new
    morals and rights. You cannot have the right to liberty and property, and
    have forced increases in minimum wage. You will have to get rid of those
    rights, something that most will not tell you who are pushing for such
    measures.

    Reply
  6. Lord E-Vyl

    win apple

    99 percent of the time, they end up fucking UP MY ORDER. Why should he or
    she get paid more when they don’t even do their job properly to begin with?
    And don’t give me that BS about making more money would equal less fuck
    ups.

    I worked at McDonald’s as a teenager and never bitched and moan about my
    salary, and still never fucked up anyone’s order. What’s their excuse for
    being so damn lazy?

    The last time I went to a local fast food joint that rhymes with Mendy’s, I
    had to return my damn burger NINE god damn times, because I asked for no
    tomato, and I still got tomato on it 8 Jesus times in a row, because all
    these lazy retards were doing were talking about some damn concert they
    went to the night before, and throwing fries at one another. I hope the
    hell that their boss caught them on Camera WASTING his profits. Today’s
    youth are so ungrateful. They should be grateful to even have a fucking job
    in this economy, but they take advantage of it when they finally get the
    opportunity for a job (and I don’t mean take advantage in a positive way)

    Plus raising the minimum wage drives up the cost of living and everything
    else. Raising the minimum wage is fine for huge corporations like Wal-Mart
    and McDonald’s who can afford it, but what about SMALL BUSINESS OWNERS who
    can barely afford the wages they have now? Those small businesses(including
    MINE) would have to jack up their prices, and as a result, would lose
    business to places like Wal-Mart. Even if Wal-Mart jacks up their prices,
    people would still go there and make purchases, but small business owners
    like myself would lose money for what may very well be a superior product
    (just so you know, I own an electronics (not a franchise) store and I am
    one quarter owner of a craft beer brewery. My problem is that I would end
    up having to LOSE my business (or make drastic staff cuts, thus putting my
    employees out of work. I only employ 12 people (and if the minimum wage
    goes up, I would have to lay off at least 4 of those employees at my main
    business, probably 3 at the brewery.

    Reply
  7. Agnostic Meatatarian

    walmart sucks

    Did he literally just say it is better to pay them less then they are
    worth? Why not exactly? And if your annual salary is in the millions and
    billions yet you don’t want to pay your workers more then I would call that
    greedy. I don’t see any job that is worth paying millions and billions. Why
    is it that it makes no sense to pay minimum wage workers more money then
    what they are worth but totally ok for the guy on top to get paid way more
    in the 7 to 8 figure salary range?

    Reply
  8. Wyatt Maher

    game online

    These republicans forget something, because these people are making next to
    nothing, they are using government subsidies, they, we, and me. All paying
    them with medicaid, and food stamps so the big fast food corporations don’t
    have to pay them enough to eat. Meanwhile at Walmart, and many other big
    corporation or fast food jobs, the executives are stuffing their pockets
    and now 80 people have half of the worlds wealth. That money that should be
    going to workers is going to the pockets of the 1% and the government
    cannot try to compensate for the wages with government subsidies. 

    Reply
  9. thestickmanful

    Swimsuit Edition

    And If a person earn less than the minimum to survive? In my country u
    cannot live with less than 150 dollars for example(twice the time here in
    my country), what happens by the way? Should the business employ more
    paying less, or the contrary that has been going for a long time?

    Reply
  10. Matthew Olson

    ferrari

    Actually Data shows that states that raised their min wage showed an
    increase in jobs. Not that this proves raising the min wage creates jobs,
    but disproves it creates job-loss. Due to Marginal Propensity to Consume,
    raising the wage will not raise prices significantly. According to the
    Bureau of Labor Stats, a survey conducted in 2014 shows that 3 out of 5
    small business owners agree with increasing minimum wage. Our value? Our
    value shows our production is climbing, yet wages are not matching. If our
    wages matched our rising productivity, we would be at $21/hr.

    Reply
  11. Lautreamont053

    promo

    wow it’s impossible to discuss about this. People think economy is a true
    science like physics. Economy is a social science like sociology,
    philosophy or linguistics. Same economic solutions won’t give the same
    results in 2 situations. It’s a fucking faith like Christianism. 

    Reply
  12. CaesarLhb4

    medical leasing

    OK. I’m going to on a rant.

    Most companies hiring people on minimum wage, which I must point out is not
    enough to sustain someone financially, are making thousands off each dollar
    the worker brings home.

    The idea that higher minimum wages kills jobs is obviously falsehood.
    States like Washington and Oregon have shown this to be false.

    Jobs are positions that need to be filled. By increasing the minimum wage
    profits are shaved from Corporate pockets, yet the jobs still remain
    because the company NEEDS those jobs to be filled in order for it to
    continue working.

    These ads. are a joke. A puppet show by the rich in an effort to keep their
    profits high, and the workers ignorant and poor.

    Reply
  13. Darckense Onoda

    top lenders

    “When employment costs increase, entrepreneurs have two choices, they can
    reduce the amount of people they employ or they can raise the prize of
    goods they produce. Otherwise they are in the red.”
    This contains a couple of assertions.
    Assertion1. Their employees create them less profit than the new employment
    costs.
    Assertion2. The company now breaks even.
    Assertion3. The amount of work done by employee is equal irregardless of
    quantity of employees.

    This disproves Assertion1.
    Assertion2 is disproven by the fact that many companies actually are at a
    profit currently.

    So no, they don’t have to be in the red if wages are increased.

    “In a free market employment is a win-win-win situation”
    Well, it’s a shame that we don’t live in a free market. We live in a market
    that has income redistribution. It takes income made by the poorer people
    and gives it to the richest people.

    Reply
  14. Balint Franchi

    New Site

    That’s just some crazy propaganda. Who does actually demand $1000/hour for
    working? People allover the world ask for a decent wage which lets them
    live with dignity, not for a higher wage than they produce. And please
    don’t tell that Walmart, Tesco, McDonalds and so on can’t afford to rise
    these wages, or thet they would be forced to raise the prices, because
    that’s bullshit. (sorry for my english btw). I know this video regards the
    USA, but I think this is general problem.

    Reply
  15. Wise Sloth

    New Site

    I agree with the video but the premise is incorrect. This would be true if
    7.5$ was actually = productivity of a minimum wage job. In reality, minimum
    wage jobs produce more than 20$ of productivity and yet they are payed back
    7.5$. If you think thats even remotely fair, you are ignorant or insane.
    The way we are going, the economy will collapse under horrendous income
    inequality. I rather the prices go up than witness an American revolution. 

    Reply
  16. Ryan Sample

    instant loans

    NOTE:
    By raising the minimum wage to a reasonable amount (which should be in the
    realm of $15-$25, if I’m correct), those working on the minimum wage should
    be able to purchase more goods than normal, which will stimulate the
    economy.

    This has been demonstrated in more left-wing states, such as Oregon and
    Washington D.C.

    Additionally, one of the issues of the current U.S. economy is the severe
    inequality in money, with the 99th percentile in money owning over 35% of
    the money in the United States. A redistribution of wealth that could be
    done by, say, raising taxes on the wealthy, would help to stimulate the
    economy as well.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *