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Every Minimum Wage Argument DEBUNKED

"Just get a job, and stop being lazy"

since 2000 90% of the jobs being created have been part-time jobs. last month over 22,000 people applied to walmart, and only 600 got a job. And to be considered unemployed you have to be actively looking for a job. so 7% of americans are actively looking for a job. People are trying, there just aren’t any jobs out there.

"just get an education"

over 280,000 americans with four year degrees are working minimum wage jobs. over 30,000 americans with 6 year degrees are working minimum wage jobs. 50% of college graduates end up unemployed. the average college graduate has about 30,000 dollars in debt. So why yes, education can be great for some, it’s defiantly not a solution for all.

"If we raise minimum wage Inflation will just go up, and everyone will still be poor"

Between 1950-1970 when the average real wage of this country was $9.06 the inflation rate was only 2,3%! that was one of our highest real wage time periods, combined with one of our lowest inflation rate. Secondly labor is only a part of cost, so things would not increase proportionally. More likely, if wages doubled, prices would increase by like 5-30%. And to use two examples, If mcdonlads doubled every employees wages to MAINTAIN THE SAME PROFIT as they are now, the big mac would only increase by 42 cents. If Wal-mart doubled it’s wage to MAINTAIN THE SAME PROFIT, the average cost to the consumer would only increase by 12.43 cents A YEAR! So yes prices would go up, but wages would go up a lot higher. Also with more money in the economy more people will be bale to spend and buy more. this means more inventory and product will be moved, which means business could make more money. “Raising the minimum wage is a great way to boost consumer demand because every additional dollar that goes into the hands of a low-income worker is very likely to be spent, thus spurring business sales and economic growth.” (David Bolotsky is founder and CEO of UncommonGoods) so everyone wins!

"people are just lazy"

Most of the people i know have to work 2-3 minimum wage jobs just get to by. that’s 60-70 hours a week! that’s not lazy. also productivity has gone up while wages have not!"raise minimum wage will hurt the economy"

as i’ve stated above it’ll actually help the economy. the center for economic policy and research did a report about why raising minimum wage doesn’t effect unemployment. it is also illustrated by this graph, that shows as minimum wage goes down, unemployment goes up.Then some other good reasons to raise it. One, it’ll decrease the deficit. Less people will have to be on welfare and food stamps.”It’s a perverse incentive program. A corner business or giant retailer like Costco that pays a starting wage of $11.50 an hour gets no government subsidy while a store across the street paying the federal minimum wage of $7.25 is actually getting a government handout because it pays a substandard wage. This does not make economic sense.”( David Bolotsky) Two, people will be able to feed their family. Three, it helps the wage cap and makes it possible for every american can achieve the american dream. So basically there is no question we should raise the minimum wage. or at least put in a mandatory incentive program, such as after 6 months you get a two dollars raise. and in another 6 months you’ll get another 2 dollars raise.

Singapore’s Cosco secures contract to build 7 container vessels for Maersk

Singapore’s Cosco secures contract to build 7 container vessels for Maersk

SINGAPORE – Mainboard-listed Cosco Corporation (Singapore) Ltd said Cosco (Zhoushan) Shipyard Co. Ltd, a unit of the company’s 51-per cent owned subsidiary, Cosco Shipyard Group Co. Ltd, has secured a contract with Maersk Line to build seven, 3,600 TEU (twenty-foot equivalent) container vessels.

Cosco Zhoushan and Maersk Line have agreed to keep the contract price confidential. The container…

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