Will minimum wage laws work here?

[MatrixFanatic]

in theory minimum wages sound nice and dandy. it helps the poor gets the minimum wages they need to survive.

in practice, firm will just hire less people as the demand shoot up while the supply reduce.
some people get paid more, while more people are unemployed.

another thing is the market will re adjust itself, making cost of living much much higher. in the long term minimum wage will just increase inflation

So you mean it's LPPL?

 

[cal127]

The problem is not with the minimum wage. The problem is with the middle class and elites living in excessive luxury. SME boss every CNY need to change car, elites need to have multiple cars, yachts and party homes. The obscene amount they earn for taichi-ing the work to the "exploited" foreign workers is the issue.

The screams of indignation from the SME cocktail crowd would be like sweet music to my ears. After all, they're shoving social justice down our throats, pushing massive tax breaks, and corporate bailouts in times like this. It would be nice to see the hand that they expect to feed them slap them instead.

 

[lazysundae]

So you mean it's LPPL?

no it just means minimum wage is not the solution

Sent from YNWA at Anfield using GAGT

 

[MatrixFanatic]

no it just means minimum wage is not the solution

Sent from YNWA at Anfield using GAGT

So what is? Encourage innovation? Encourage Sinkies to have some pride in their work?

 

[Kaypohji]

That’s why your earlier statement implying having a minimum wage will discourage studying hard doesn’t make sense...

Singapore doesn’t need everyone to study hard. She doesn’t need so many degree holders and pmet.

If u mean productivity, it should be encourage through recognition such as promotions and awards.

Not paying people 5$ an hour and u expect to attract a lot of competent manpower who will work very hard for 5$

Oh yeah. That's good. Else we will be like the massive amount of Taiwanese who has to come to Singapore to work in MUJI.

 

[MatrixFanatic]

It is just you who won't take such jobs.

Singaporeans are a materialistic and superficial bunch. Get real.

 

[Nobody1122]

So how much
Do you think
we should pay a

Cleaner
Security Guard

It is just you who won't take such jobs.

 

[Kaypohji]

When productivity increase, they will ultimately hire lesser people...

So right now I feel singapore is like at the stage of cheap labor and low productivity.
Same as China manufacturing state. Produce low cost products but a lot of defects and fakes.

When I say they hire lesser people, I mean to stop relying on foreign labors. So singapore will self suffice.

in theory minimum wages sound nice and dandy. it helps the poor gets the minimum wages they need to survive.

in practice, firm will just hire less people as the demand shoot up while the supply reduce.
some people get paid more, while more people are unemployed.

another thing is the market will re adjust itself, making cost of living much much higher. in the long term minimum wage will just increase inflation

 

[CSNation]

No need min wage, just use UBI ok. Just pay everyone basic 1k a month can liao. Whether they earn more or less is their pasar.

Andrew Yang say can.

Sent from my Toilet Bowl using GAGT

 

[hatredhollow]

No need min wage, just use UBI ok. Just pay everyone basic 1k a month can liao. Whether they earn more or less is their pasar.

Andrew Yang say can.

Sent from my Toilet Bowl using GAGT

I doubt Andrew Yang can pull off if he seen USA real reserve value

So much debt
Probably no money inside treasury

Ask fed to print

 

[frenchbriefs]

The problem is even if we want,business owners will disagree,it will cut into their profits...they will raise prices,but it doesn't matter.now the poor has a fighting chance,it's easier for them to decide how to spend their money when they are making $14 an HR instead of $$4 an HR.$14 an HR is 2k a month a living wage.

Of course other wages would have to rise cause the lowest income rose.... ultimately I think they would have to raise taxes for the rich which the upper income and rich wouldn't like....and also capital gains tax and property tax and estate tax

Also minimum wage will benefit everybody including fw...sinces there's hundreds of thousands of fw in sg,companies will object strongly.if u don't pay fw the same it will look like exploitation,and also no one would hire sinkies.

 

[frenchbriefs]

So what is? Encourage innovation? Encourage Sinkies to have some pride in their work?

U think encouraging innovation and productivitt will raise wages for sinkies or increase profits for companies?

 

[cal127]

So how much
Do you think
we should pay a

Cleaner
Security Guard

Math is hard but I can tell you it ain't rocket science. Let me take you through the rationale instead. Labor is worth what someone is willing to pay for it. Generally, that willingness is tied to how much the labor can produce. If you are cleaning floors, then how many square feet per hour can you do? If the employer supplies an electric floor scrubber enhancing performance of the laborer then the laborer can earn more and the employer also earns more. Thus, if the employee can now do twice the square footage per hour she may get 50% more in pay not 100% because the employer needs to get the cost of the floor scrubbing equipment paid back over time with interest. If the employee wants to make more then they can invest in tools and they will be able to get 100% of the benefits. The tools invested in by the employee can be a electric floor scrubber, mechanics tools, or education.

For those who have squandered or otherwise not been able to take full advantage of the first 15 years of their road will be much harder because they will have to create a surplus from their low pay jobs in order to finance the education they missed before they can qualify for a better paying job.

However, if the low/no skill worker cannot find jobs she can do then she cannot create a surplus to pull herself up to a higher pay level. So it is important to have low/no skill jobs available so persons willing to work hard and sacrifice current consumption for investment in their futures can succeed. If we price them out of the market, then we will have them on the dole for their entire lives. This is bad for society and destructive for both the individuals and the economy.

 

[.看你的头.]

Minimum wage will not drive up costs, it will push companies towards automation instead

End result will be to increase unemployment, but there are more than enough foreigners in SG anyways, sending a million or 2 back is no issue

 

[MatrixFanatic]

U think encouraging innovation and productivitt will raise wages for sinkies or increase profits for companies?

So you mean we shouldn't increase innovation and productivity?

 

[xyz2025]

Implement maximum wage.. the minimum will correct itself

i was thinking of a cap on the difference between max and min, or max and median. this may force the profit to flow to lower ends worker instead of concentrating to the top management or bosses.

 

[frenchbriefs]

Math is hard but I can tell you it ain't rocket science. Let me take you through the rationale instead. Labor is worth what someone is willing to pay for it. Generally, that willingness is tied to how much the labor can produce. If you are cleaning floors, then how many square feet per hour can you do? If the employer supplies an electric floor scrubber enhancing performance of the laborer then the laborer can earn more and the employer also earns more. Thus, if the employee can now do twice the square footage per hour she may get 50% more in pay not 100% because the employer needs to get the cost of the floor scrubbing equipment paid back over time with interest. If the employee wants to make more then they can invest in tools and they will be able to get 100% of the benefits. The tools invested in by the employee can be a electric floor scrubber, mechanics tools, or education.

For those who have squandered or otherwise not been able to take full advantage of the first 15 years of their road will be much harder because they will have to create a surplus from their low pay jobs in order to finance the education they missed before they can qualify for a better paying job.

However, if the low/no skill worker cannot find jobs she can do then she cannot create a surplus to pull herself up to a higher pay level. So it is important to have low/no skill jobs available so persons willing to work hard and sacrifice current consumption for investment in their futures can succeed. If we price them out of the market, then we will have them on the dole for their entire lives. This is bad for society and destructive for both the individuals and the economy.

Some things are a necessity not just a profit center,just like u don't secure train parts with cable tie.thats why I pity those that work in cost centers like the anime planetes,they have to figure out how to perform miracles with the worst resources even though their role is as important as profit centers.

 

[cal127]

Minimum wage will not drive up costs, it will push companies towards automation instead

End result will be to increase unemployment, but there are more than enough foreigners in SG anyways, sending a million or 2 back is no issue

Then we're not doing it right. It relates to the worker's productivity. If all employers are always about getting the cheapest labor possible, why are people hired away from their jobs to work for more money? It's about getting value for money. The employee's labor will contribute more than it costs the company which is the endgame.

 

[frenchbriefs]

So you mean we shouldn't increase innovation and productivity?

No but most of the benefits will still go to the corporation....companies will never pay u more than they need to.sometimes not even what they need to.

 

[Why so serious]

Minimum wage will not drive up costs, it will push companies towards automation instead

End result will be to increase unemployment, but there are more than enough foreigners in SG anyways, sending a million or 2 back is no issue

dont worry.. low tfr is the solution for future unemployment.

garment just need to stop/control the inflow. problem solved