Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Are people aware that cutting minimum wage may not solve the unemployment problem?
There is no way in knowing that. But one thing is for sure, even if it DID solve the unemployment problem at the rate the government is spending and forcing the cost of living to skyrocket because of the federal reserve, a big growth poverty will be our next problem - because people really will be homeless then making 4 dollars an hour in this shitty economy. If a family of 3, 2 parents and a child were making 4 dollars an hour each they couldn't even take care of themselves in this economy. After they paid the bills or paid rent they'd barely have enough money left for food and other necessities. Unemployment problem, solved maybe, but prosperity gets worse.
I'm not saying people should make 20 dollars an hour mopping a damn floor, all I'm saying is that to get folks back to work with growing wages that come natural with a strong economy you have to cut the federal spending, significantly.
The federal reserve printing out billions of unbacked US money, and our government spending it like devils in a dust storm is exactly why we're in this mess.
Destroying the prosperity of Americans isn't going to solve this crises it will make it worse.
9 Answers
- socialdLv 71 decade agoFavorite Answer
When unemployment is low minimum wages dont really matter, because there is competition among employers to get the workers.
so really minimum wage is a non solution ( raising it or lowering it ).
its not even that companies need to be incentivised to hire, they just need to quit dis-incentivising them with the quagmire of crap that govermnent inserts into the socio economic world.
- Anonymous1 decade ago
You are right about cutting federal spending.
But increases to the minimum wag are just plain inflationary. Nothing more. and it seems to me that this massive jump in unemployment is more than co-incidental to a massive jump in the minimum wage.
Minimum was 5.25 for a long time. Now it is at a level that people who started at 5.25 would aspire to. I think it is 7.29 in Florida. That kind of jump has GOT to make some employers change their minds about putting the Help Wanted sign in the window.
- MaxwellLv 71 decade ago
All I'm saying is the federal government, and most state governments need to make DEEP cuts into their over-inflated budgets. Or we are ALL going to go down.
- Anonymous1 decade ago
If you cut the minimum wage , you will spend more on food stamps ,low income health care, low income housing, Why subsidize Walmart?
- How do you think about the answers? You can sign in to vote the answer.
- ICH8TELv 71 decade ago
"Cutting" it?! It should be RAISED not cut! People are not making what they've earned! This country is backwards in so many ways!
- 1 decade ago
Of COURSE Not ! -Because as long as THEY aren't getting it- What difference does it Make ??! :o
- Anonymous1 decade ago
How about competing for jobs that aren't dying?
- Anonymous1 decade ago
it won't. look at the under employment rate. people are just greedy.
