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Because in absence of minimum wage, they can exploit the workmen by paying paltry wages, which the later are forced to accept due to abject poverty and unemployment. People who own stock in such companies can reap the rewards of increased profits with lower wages.
Some people engage in classism, or see other people as not worth as much as the minimum wage is. Peter Schiff, CEO of Euro Pacific Capital, suggested that some mentally retarded people might not be hireable at the current minimum wage, but might be useful in jobs if they were paid $2 an hour.
What else can I help you with?
What is the minimum wage in US 2007?
minimum wage differs from states to states... there are even some that have NO minimum wage whatsoever.
What is the minimum wage of a pediatrician?
In some states the minimum wage is 2 dollars. Some states do not even mandate minimum wage but reference the federal minimum wage act as a guide.
How can people survive on the federal minimum wage?
I had to look this up for you to look at that can help you with this matter. Here are some sites for you to look at www.businessinsider.com/minimum-wage-and-what-it-buys-y , www.cnn.com/2012/07/25/...minimum-wage/index.html
What was the minimum wage in 1991?
There was no national minimum wage in 1991. There were however 'works council wage orders' where workers in some industries had to paid a minimum hourly wage.
What was minimum wage in 1991?
There was no national minimum wage in 1991. There were however 'works council wage orders' where workers in some industries had to paid a minimum hourly wage.
What are reasons why you should raise the minimum wage?
Some people believe that the National Minimum Wage is too low for people to live off. This request have been given to the Government numerous times and it is slowly rising.
What is the minimum wage in the US?
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Is minimum wage federal?
Yes in some countries, no in others. The US has a federal minimum wage. Canada does not.
What is a sentence with the word minimum wage?
You must pay employees a minimum wage.The minimum wage is the lowest amount of money you can legally pay someone.The company was shut down for paying migrant workers below the minimum wage.
Does raising the minimum wage help the economy?
Many people do not think raising the minimum wage is going to help the economy.
Most countries around the world have some sort of minimum wage law Explain why the minimum wage may hurt workers as much as help them?
Minimum wage may hurt a worker if the rate of inflation is higher than the minimum wage.
What amount is the present minimum wage?
The Federal Minimum Wage was just increased to $7.25/hr on July 24th. Some states are different though and have a minimum wage that is higher than this.
