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The Minimum Wage can not Help Poor

The Minimum Wage can not Help Poor. Harvey Shi. Law about Minimum Wage. Federal: 7.25 USD/Hour (Jul 24,2009) MA:8 USD/Hour (Jan 1, 2012) MA special law: if MA minimum wage lower or equal than federal, the minimum wage will change to federal minimum wage increase 10 cents.

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The Minimum Wage can not Help Poor

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  1. The Minimum Wage can not Help Poor

    Harvey Shi
  2. Law about Minimum Wage Federal: 7.25 USD/Hour (Jul 24,2009) MA:8 USD/Hour (Jan 1, 2012) MA special law:if MA minimum wage lower or equal than federal, the minimum wage will change to federal minimum wage increase 10 cents.
  3. How do you think about minimum wage? Do you want to increase or decrease minimum wage?
  4. Good Effects of Minimum Wage Increase the standard of living Reduce poverty Reduce inequality
  5. Why Minimum Wage can’t help poor? Increase poverty Increase pressure of work Increase inequality
  6. Increase Poverty Fire more people The value of their work less than money of company pay to them. Buy machine Choose high technical workers or strong people.
  7. Increase pressure of work More work Higher requirements
  8. Increase inequality Less work opportunity No chance to practice.
  9. Reason of inequality “Minimum wage law is a way of government human intervention in the labor market, such an intervention would impede spontaneous functioning of the market mechanism. This policy was enacted to alleviate poverty, not only no effect on poverty alleviation, but also distorts the allocation of resources.”—“The Economics of Minimum Wage Legislation” (1946) George Stigler
  10. How do you think about minimum wage now?
  11. advice Minimum wage to meet social situation.
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