News Is Raising the Minimum Wage Really Helping the Working Poor?

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The discussion centers on the implications of raising the minimum wage for small businesses and the working poor. A key point raised is that increasing wages without market adjustments can lead to job cuts, as businesses may not afford to retain all employees. It is argued that instead of relying on government mandates, individuals should focus on improving their skills and finding better-paying jobs. The conversation also highlights the inflationary effects of government interventions, suggesting that they do not effectively support the working poor. Ultimately, the debate questions whether higher wages truly benefit employees or if they merely inflate costs without improving their overall financial situations.
  • #31
Jasongreat said:
The first thing the new owners did was get rid of the profit sharing...
Not surprising. The very concept of sharing evokes images of Soviet Russia for some people, for some strange reason or another.
Jasongreat said:
Within 2 yrs the company... was out of buisiness.
Not surprising either.
 
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  • #32
kyleb said:
Not surprising. The very concept of sharing evokes images of Soviet Russia for some people, for some strange reason or another.


It wasnt sharing it was earning, two completely different concepts IMHO.
 
  • #33
It was profit sharing, which while far from communism, is still too close for the comfort of some.
 
  • #34
kyleb said:
It was profit sharing, which while far from communism, is still too close for the comfort of some.
Profit sharing in the form of, say, dividends on stocks is commonplace in capitalist systems. There are many other forms of profit sharing. I'm unfamiliar with anyone calling such not 'far from communism'.
 
  • #35
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