The Truth About Minimum Wage Laws

What is a liveable wage? A liveable wage is simply a wage that one can live on. What does it take to live? Food, Water, Shelter and Clothing. And technically Shelter can be left out of the mix.

It discourages entrepreneurship by individuals. So do regulations. Some people in the current Obama administration have been revealed to not have taken out taxes on the hired help. What often happens in these situations is that the hired help, working for individual families, sometimes get a below normal wage, but are often compensated in other ways, such as with room and board.

A liveable wage is simply a wage that allows a person to live. That can be done on a wage below minimum wage in some instances. The current minimum wage (I think) is $7.70, but if someone wants to pay me the equivalent of $6 per hour, for 10 hours a week, that is a more liveable wage than one that pays me the full $7.70 at 0 hours per week. $7.70 x 0 = 0, but $6 x 10 = $60.

Regulations and minimum wage laws hurt poor people. Most people agree that there should be some regulation, how much is a matter of debate. There are people who do real work for others, but of necessity must call it self employment, even if it isn't. Not everyone who owns a business is rich. In fact, probably not all who own large, successful businesses are rich.

Regulations hurt the poor, particularly over-regulation, because it limits their ability to start businesses. Minimum wage hurts the poor partly because it discourages them from taking jobs from individuals who may not be business owners, but have a need for help and can not pay minimum wage.

The fair tax would help the working poor. Their might be some problems with the fair tax which may affect the poor, but anything thought of by humans could do that, and an attempt has been done to solve that problem with something called a prebate. It's like a rebate but you get it before hand. I don't have all the answers. But I do know that $20 for a days work is $20. $20 an hour for zero work is $0. It's easier for me to live on an income I have than on one I don't, regardless of how small or large it is. Do I want more money? Of course I do, but to turn down a job simply because the salary is not as much as I would like it to be would be stupid of me, wouldn't it?