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Forum Post: Herman Cain: Eliminate the Minimum wage to create more jobs...

Posted 3 years ago on Oct. 21, 2011, 6:29 p.m. EST by MarkDuwe (127)
This content is user submitted and not an official statement

The jobs would only pay $2 or $3 dollars an hour, but there would be more of them. I think he is way wrong. The minimum wage should be going up, not down. It's kind of like a tax on the middle class, but I would rather pay $3 for a $2 cheeseburger than give people more food stamps.

The incentive to work should always be greater than the incentive to not work. Of course, if you follow the neocon path, there would be no foodstamps, WIC, or welfare.

24 Comments

24 Comments


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[-] 3 points by notaneoliberal (2269) 3 years ago

Maybe next he'll just suggest we bring back slavery. Careful what you wish for "Herb".

[-] 2 points by commonsense11 (195) 3 years ago

There are valid points on both sides of this argument.

[-] 2 points by Thinkdeer (250) 3 years ago

Yes, the problem is not unemployment, unemployment is a symptom of the problem. The problem is an over-concentration of power.

[-] 1 points by eidos (285) 3 years ago

Cain has got to get all his assertions in now while he still has a microphone. His influence is going to be short lived

[-] 1 points by GeorgeMichaelBluth (402) from Arlington, VA 3 years ago

removing the minimum wage would be a good thing.

[-] 1 points by notaneoliberal (2269) 3 years ago

This site will give you a better idea of why we have such a jobs problem.
http://economyincrisis.org/node?page=2

[-] 1 points by thebeastchasingitstail (1912) 3 years ago

Seriously, wtf can anyone do with 120 dollars per WEEK in this country?

And then he wants to tax that too.

[-] 1 points by owschico (295) 3 years ago

the thing is nobody would work these jobs so they would be forced to rase the pay. but i do not agree with taking away the minimum wage

[-] 1 points by thebeastchasingitstail (1912) 3 years ago

exactly, labor is a market, too, something some of these characters always seem to forget

[-] 1 points by Emcalone (88) from Plano, TX 3 years ago

yeah, minimum wage just prices out the unskilled. china and india have done a better job at expanding its middle class than the united states....

[-] 1 points by Mooks (1985) 3 years ago

Whether they are making $3 an hour or $9, the governmental is likely going to have support someone's family to some extent, it is just a matter of how much. Personally, I would rather see them working and making $3 an hour with the government helping them out then people sitting at home letting the government completely support them.

[-] 1 points by moediggity (646) from Houston, TX 3 years ago

You know that even if min.wage was repealed, nothing would go down as big business would find any excuse to keep the prices where they are at right? No one can possibly be this stupid as to actually believe this.

[-] 2 points by MadAsHellInTX (598) from Shepherd, TX 3 years ago

No-one, except Cain and any idiot who votes for him. But it gets better: Goldman Sachs advises that dork. They wrote his equally stupid 999 tax plan.

[-] 1 points by RufusJFisk52 (259) 3 years ago

If you raise the minimum wage...then prices of goods and services will go up with it. So whats the point really? Supply and demand; basic econ. Or business owners will lay off or not hire as many people due to the new higher costs

[-] 1 points by MarkDuwe (127) 3 years ago

Labor in fast food runs about 30% If M.W. was raised to say $11.00 an hour then the cost of labor would go up about 20-25%. So, out of the sales of a $10 Pizza $3.00 would go for labor, if minimum wage were raised that same pizza would still only cost around $12.50. That would be fine with me.

Minimum wage wasn't meant to be a living wage, the problem is though, more and more people are having to depend on those jobs to get by.

And, improving your situation by going to college will not do anything to make that job pay more. No matter what you do that job will still be right there paying someone a pittance for a day's work.

[-] 1 points by NielsH (212) 3 years ago

If your raise the minimum wage the prices don't necessarily have to go up at the same rate the wages rise. Wages are not only component of the cost of a product. If the average wage is raised 5% and prices rise with 3%, there is still a 2% net gain.

[-] 1 points by MarkDuwe (127) 3 years ago

People who work for and have to live on $7-$10 an hour don't eat out, many of them don't buy gas because they can't afford a car. I'll give you an example... One time a while back I got a job with a temp company. There was a 20 year old guy who worked with us. The topic came up..."What are we going to do with our first check?" The kid said he was going to get a new tatoo. I said I was going to buy some water and electricity. The kid didn't understand that at all.

To be in perspective,...I worked at McDonald's for $1.25 an hour.