Quotes & Sayings About Minimum Wages

Even a wizard would have a great deal of difficulty repealing the economic law that higher minimum wages reduce employment. Since politicians are not wizards, they should not try. — Gary Becker

Raising minimum wage doesn't just benefit the workers behind me, it creates a proven ripple effect that increases wages all the way up the scale ... Let's get the facts straight, only 20 percent of people making the minimum wage are teenagers. The rest are hardworking adults, many of them with families, and I mean hardworking. — Joe Biden

Look for the enemies of Medicare, of higher minimum wages, of Social Security, of federal aid to education and there you will find the enemy of the Negro, the coalition of Dixiecrats and reactionary Republicans that seek to dominate the Congress. — A. Philip Randolph

Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition. — Milton Friedman

[E]conomic liberty and creative entrepreneurship are the basis of any solution to today's social and economic difficulties. Blaming business, setting wages, and attempting to run the economy by decree from Washington only exacerbates the problems. Consider the minimum wage. It seems so simple: Tell business to pay its workers more. But a hike in the minimum wage is essentially a tax, punishing precisely those companies that hire workers with the least skills. — Doug Bandow

We should remember that it's easier to destroy than to build, and it's really easy to destroy something you have no stake in. It was the 10 percent cut in wages that precipitated The Strike. The Bosses reduced their workers' stake in their operations below the minimum necessary for survival, while denying them any legal recourse. That was when the real Atlas shrugged. — Cecelia Holland

High mandated minimum wages will throw people out of work and onto the welfare rolls in cases where unemployment benefits exist. When it comes to welfare payments, they obey the laws of economics, too. Indeed, if something - like unemployment - is subsidized, more of it will be produced. — Steve Hanke

These are the now-endangered markers of a civilized society: legally ordained minimum wages, child labor laws, workers safety and compensation laws, pure foods and safe drugs, Social Security, Medicare and rules that promote competitive markets over monopolies and cartels. — Bill Moyers

Minimum standards to promote workers' wages, health and safety, to safeguard the community against pollution and degradation, and to ensure basic life goods for all as a basic contract for civil society was between 1945 and the mid-1970s, in fact, a rapidly evolving framework which inhibited the causes and effects of a corporate market system committed to an opposed goal. — John McMurtry

For restaurants that have a minimum gratuity charge on large groups, the IRS will now count those tips as regular wages rather than traditional tips that we are all familiar with when we dine out. Ask any server, and they will tell you that this will directly affect their day-to-day lifestyle. — Kevin McCarthy

The internal and external ethics of an organization must be the same; you cannot talk about minimum wages for poor people and not pay minimum wages to your own workers. — Aruna Roy

I live in the same house I purchased in 1971 for $22,500. I think we need to increase the minimum wage and so all my neighbors can get an increase in their wages. — Dennis Kucinich

Teddy Kennedy's big new idea is to wheel out his 18th proposal to raise the minimum wage. He's been doing this since wages were paid in Spanish doubloons (which coincidentally are now mostly found underwater). Kennedy refuses to countenance any risky schemes like trying to grow the economy so people making minimum wage get raises because they've been promoted. Kennedy's going down and he's taking the party with him! (Recognize the pattern?) — Ann Coulter

Free market economists frequently see minimum wage legislation as mere political intervention. However, there are decent economic theories which show that, under certain circumstances, minimum wages can be beneficial, as it makes workers more productive. — Ha-Joon Chang

There are people who would like to get rid of minimum wage. But we have to have it, because if we didn't some people would not get paid money. They would work all week for two loaves of bread and some Spam. — Chris Rock

We regard the minimum wage rate as one of the most, if not the most, antiblack laws on the statute books. The government first provides schools in which many young people, disproportionately black, are educated so poorly that they do not have the skills that would enable them to get good wages. It then penalizes them a second time by preventing them from offering to work for low wages as a means of inducing employers to give them on-the-job training. All this is in the name of helping the poor. — Milton Friedman

To the second end, we hold that minimum wage commissions should be established in the Nation and in each State to inquire into wages paid in various industries and to determine the standard which the public ought to sanction as a minimum; and we believe that, as a present installment of what we hope for in the future, there should be at once established in the Nation and its several States minimum standards for the wages of women, taking the present Massachusetts law as a basis from which to start and on which to improve. — Theodore Roosevelt

From the standpoint of the upper classes, the system had many merits. They felt that what was paid out of the poor rate was charity, and therefore a proof of their benevolence; at the same time, wages were kept at starvation level by a method which just prevented discontent from developing into revolution ... It was plainly the certainty, derived from the old Poor Law, that actual death would be averted by the parish authorities, which induced the rural poor of England to endure their misery patiently ... it taught them respect for their 'betters'.While leaving all the wealth that they produced, beyond the absolute minimum required for subsistence, in the hands of the landowners and farmers. It was at this period that landowners built the sham Gothic ruins called 'follies', where they indulged in romantic sensibility about the past while they filled the present with misery and degradation. — Bertrand Russell

Inequalities at the bottom of the US wage distribution have closely followed the evolution of thee minimum wage: the gap between the bottom 10 percent of the wage distribution and the overall average wage widened significantly in the 1980s, then narrowed in the 1990s, and finally increased again in the 2000s. Nevertheless, inequalities at the top of the distribution - for example, the share of total wages going to the top 10 percent -- increased steadily throughout this period. Clearly, the minimum wage has an impact at the bottom of the distribution but much less influence at the top, where other forces are at work. — Thomas Piketty

I want to applaud those workers rallying to raise the minimum wage to $15 per hour. I believe strongly that a great nation will not survive when so few have so much and so many have so little. Every worker in America should be given respect, dignity and the wages and benefits they need to take care of their family. — Bernie Sanders

Minimum wages tends to elicit minimum attention. — Toby Barlow

Low wages fail even from a purely business point of view wherever it is a question of producing goods which require any sort of skilled labour, or the use of expensive machinery which is easily damaged, or in general wherever any great amount of sharp attention or of initiative is required. Here low wages do not pay, and their effect is the opposite of what was intended. For not only is a developed sense of responsibility absolutely indispensable, but in general also an attitude which, at least during working hours, is freed from continual calculations of how the customary wage may be earned with a maximum of comfort and a minimum of exertion. Labour must, on the contrary, be performed as if it were an absolute end in itself, a calling. But such an attitude is by no means a product of nature. It cannot be evoked by low wages or high ones alone, but can only be the product of a long and arduous process of education. — Max Weber

So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment. — Paul Krugman

Most poor people earn more than minimum wage when they are working; their problem is not low wages. The problem comes when they are not working. — Joseph Stiglitz

Holmes cast himself as a demanding contractor. As workers came to him for their wages, he berated them for doing shoddy work and refused to pay them, even if the work was perfect. They quit, or he fired them. He recruited others to replace them and treated these workers the same way. Construction proceeded slowly, but at a fraction of the proper cost. The high rate of turnover had the corollary benefit of keeping to a minimum the number of individuals who understood the building's secrets. A — Erik Larson

Full-time workers earning the current federal minimum wage of $7.25 only earn about $14,500 a year in wages - below the poverty line for a family of two. That's unacceptable. — Thomas Perez

Yet it ought to be clear that a minimum wage law is, at best, a limited weapon for combatting the evil of low wages, and that the possible good to be achieved by such a law can exceed the possible harm only in proportion as its aims are modest. The more ambitious such a law is, the larger the number of workers it attempts to cover, and the more it attempts to raise their wages, the more likely are its harmful effects to exceed its good effects. — Henry Hazlitt

Certainly other things we can do, we gotta promote after-school employment, give kids an opportunity, raising the minimum wage was part of that, we can't expect that young people are going to feel they can make a living out there for such low wages. — Matt Gonzalez

Now, legal plunder can be committed in an infinite number of ways. Thus we have an infinite number of plans for organizing it: tariffs, protection, benefits, subsidies, encouragements, progressive taxation, public schools, guaranteed jobs, guaranteed profits, minimum wages, a right to relief, a right to the tools of labor, free credit, and so on, and so on. — Frederic Bastiat

This is a sensible response to employer concerns that the minimum wage is starting to have a damaging impact on competitiveness. — Digby Jones, Baron Jones Of Birmingham

From the point of view of the employer, it is in any case simply an item of cost, to be reduced to a minimum if it cannot be eliminated altogether, say, by automation. From the point of view of the workman, it is a "disutility"; to work is to make a sacrifice of one's leisure and comfort, and wages are a kind of compensation for the sacrifice. — E.F. Schumacher

Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation. Once again, prudence dictates a more gradual increase in the wage rate, so that the economy can more easily absorb the impact. — Richard M. Nixon

They were men linked more to one another, their schools, their own social class and their own concerns than they were linked to the country. Indeed, about one of them, Averell Harriman, there would always be a certain taint, as if somehow Averell were a little too partisan and too ambitious (Averell had wanted to be President whereas the rest of them knew that the real power lay in letting the President come to them; the President could take care of rail strikes, minimum wages and farm prices, and they would take care of national security). — David Halberstam