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Open Discussion Discuss Two dozen countries with a higher minimum wage than America’s at the General Forum; The debate seems to be intensifying over whether the U.S. minimum wage is too low, too high or just right. ...

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Old 02-26-2014, 08:49 PM
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Default Two dozen countries with a higher minimum wage than America’s

The debate seems to be intensifying over whether the U.S. minimum wage is too low, too high or just right. But compared with the minimum wage in other countries, it’s nearly the lowest in the developed world.

Earlier this month, President Obama signed an executive order raising the minimum hourly wage for new federal contractors from $7.25 to $10.10, fulfilling a promise he made in his State of the Union speech to hike pay where he could without the approval of Congress. That move affects a very small percentage of people, but it could generate momentum for a broader effort to do the same thing nationwide, as one bill pending in Congress would do

Even so, the U.S. minimum wage has fallen far behind what other countries pay. Data from the Organization for Economic Cooperation and Development shows the federal minimum wage of $7.25 per hour ranks 26th out of 27 countries, when measured as a percentage of the average wage in each of those countries. Canada, most European nations, and Asian powerhouses such as Japan and South Korea all have a higher minimum wage, relative to average pay. Here’s a chart showing the data for 2012, the latest available,with the second bar from the right representing the United States:

On a dollar basis, the U.S. minimum wage is slightly above average when adjusted for differences in purchasing power among countries. That puts the U.S minimum above the wage in Japan and Spain, plus less-developed nations such as Poland and Turkey. But even by that measure, it’s still below the minimum wage in Australia, the Netherlands, the U.K. and several other countries.

No matter how U.S. pay levels compare with those in other countries, the minimum wage is a combative issue here at home, with advocates for business arguing that raising the wage will threaten profits that are already thin, leading many firms to hire fewer workers. The nonpartisan Congressional Budget Office recently found that raising the minimum wage to $10.10, as one Senate bill would do, would lift 900,000 families out of poverty but also cost the economy 500,000 jobs. One pro-business TV commercial warns that raising the wage will compel more businesses to replace human workers with tablet devices and other technology.

But some economists feel the threat to the economy is overblown. “Arguments that lifting the minimum wage will cost low-income workers their jobs are significantly overstated,” writes Mark Zandi of Moody’s Analytics. “While raising the minimum wage has probably eliminated some jobs for very low-skilled workers, this loss has been marginal.”

Outside of Washington, there’s less controversy over the issue. About 20 states already have a minimum wage that’s above the national average. Retailers such as Costco (COST), Whole Foods (WFM) and the Gap (GPS) have said they’ll set wages above the federal minimum, because it reduces employee turnover. Polls show that three-quarters of Americans favor raising the minimum wage. Even 43% percent of small-business owners — who, in theory would have the most to lose if the minimum wage went up — support hiking it.

A big part of the problem with the U.S. minimum wage is that it’s not indexed to inflation — the way Social Security is — so instead of rising automatically as living costs go up, it requires an act of Congress every few years to raise it. That generates repeated political tussles such as the one brewing in Washington now. Ten U.S. states do index their minimum wage to inflation, as do several other countries.

The Senate bill, which Obama supports, would raise the minimum wage to $10.10 in stages over two years, then link increases to the rate of inflation, eliminating the need for future votes on the issue in Congress. Most Congressional Republicans oppose the bill, but it could still pass if a handful of Republicans join most Democrats in voting for it.

Last year Obama called for hiking the minimum wage to a mere $9 an hour, before he signed on to the more aggressive Senate bill and signed the order raising contractor pay. That suggests a possible compromise could emerge on a nationwide minimum wage — at some level lower than $10.10 — allowing Republicans to claim a modest victory.

Still, Congress is a place where national priorities go to die, so it’s also possible the United States could end up 27th out of 27 before long.

Two dozen countries with a higher minimum wage than America?s | The Exchange - Yahoo Finance
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Old 02-26-2014, 09:50 PM
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Default Re: Two dozen countries with a higher minimum wage than America’s

I would agree with some kind of compromise $10.10 (as a starting wage) seems a bit high. Maybe they could make it $8.50 or something?
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Old 02-27-2014, 09:23 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

Make hikes to the minimum wage like Congressional pay increases, automatic. What a good idea.

All we need is another law to increase the value of the work performed by minimum wage workers. Economics is subject to Federal regulation isn't it. What else could be expected from a President who before taking office had never so much as managed a hot dog stand.
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Old 02-27-2014, 10:00 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

Raise the minimum wage. It will affect less than 1% of the workforce. Big whoop. It'll make certain members of govt feel all warm and fuzzy inside and they'll believe that they've actually done something good that helped a lot of people. They're delusional of course, but hey... whatever.

It's really the matter of principle to me. I don't believe that the government should tell me how much or how little I am allowed to work for. That should be MY choice, not theirs. There shouldn't be a minimum wage at ALL.
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Old 02-27-2014, 10:11 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

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Raise the minimum wage. It will affect less than 1% of the workforce. Big whoop. It'll make certain members of govt feel all warm and fuzzy inside and they'll believe that they've actually done something good that helped a lot of people. They're delusional of course, but hey... whatever.

It's really the matter of principle to me. I don't believe that the government should tell me how much or how little I am allowed to work for. That should be MY choice, not theirs. There shouldn't be a minimum wage at ALL.
The increase would impact everyone making less than $10.10 per hour, all with pay tied to the minimum wage and everyone who had worked their way up the vicinity of $10.10 an hour. It would also discourage welfare recipients from taking a part time job by reducing their benefits more.
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Old 02-27-2014, 10:25 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

I dont think 1010 wud make much of a wave but they are raising it

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Old 02-27-2014, 10:30 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

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The increase would impact everyone making less than $10.10 per hour, all with pay tied to the minimum wage and everyone who had worked their way up the vicinity of $10.10 an hour. It would also discourage welfare recipients from taking a part time job by reducing their benefits more.
Less than 1% of the workforce makes federal minimum wage.
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Old 02-27-2014, 10:38 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

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Less than 1% of the workforce makes federal minimum wage.
and some make far less. take company truck drivers for instance and people who hire out to do a job sans paper work.
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Old 02-27-2014, 11:12 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

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and some make far less. take company truck drivers for instance and people who hire out to do a job sans paper work.
raising the minimum wage wouldn't affect those people either.
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Old 02-27-2014, 11:26 AM
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Default Re: Two dozen countries with a higher minimum wage than America’s

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raising the minimum wage wouldn't affect those people either.
in a way it would (except illegals), but I'm not advocating one way or the other. should have been done by now, was on schedule but was squashed for years. what we need are jobs imho.
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