Let’s see why minimum wage laws are retarded, I will illustrate this with a very obvious example, one that you haven’t hear before.
So we have many poor people begging for higher minimum wages, since they are living from paycheck to paycheck, and can barely survive within their current budget, this is understandable, it’s called poverty, and there are many reasons why this is happening….
However the solution to it, namely the minimum wage increase, is the stupidest solution that you can imagine, let me explain why, clearly and precisely.
Now according to some totalitarian socialists, the cause of poverty, at least in this instance is the so called “wage theft”.
Okay so people get paid lower than minimum wages sometime, but at least they have a job. In other cases they get worked overtime with little pay or their holidays are cut off. Okay that is immoral, but is it really “wage theft”, actually let me shift your attention to something much more strange and bizarre.
There is something weird going on with your salary, at the end of every month, something strange happens to your money.
So let’s say you work at a restaurant as a cook, you cook delicious food every day, and you enjoy this, making sure people are fed, it brings a satisfaction to you that you help clients. It’s a decent job.
You get paid at your salary day, and you get a salary statement from your boss saying that you have earned 1500 EUR for your well done job. You earned every penny of that, and you deserve it, you worked hard for it, your boss smiles at you.
The problem is that only less than 700 EUR make it into your bank account. It’s a very strange phenomena, I can’t figure out what really causes it, but it seems like it happens to everybody.
So your statement says that you have earned 1500 EUR for your well done job, but somehow your bank account balance shows only 700 EUR.
It’s a total mystery. What happens to the other 800 EUR that you have earned for your well done job?
I mean I hesitate to say it, but it’s almost like some sort of THEFT is going on. I am not really sure and I don’t have evidence for it, but the fact that 60-70% of your salary is missing, in fact it happens to everybody, is very strange. Beyond bizarre.
It’s almost like an organized theft is going on at a national level that makes 70% of people’s earnings vanish.
I wonder what could that be, please explain it to me what is really going on….
So of course you can point your fingers anywhere for the cause of poverty, but would there really be that much poverty if this 70% automatic theft would not be in place?
Well here is the real theft:
Minimum wage laws are stupid for 1 simple reason. It forces you to work 1 full time job, which you might not be qualified for, so your become unemployed. And you don’t have the ability to work 3-4 partial jobs, for the same amount of money.
Let me illustrate this by:
Let’s say the minimum salary is 1000 EUR. So it is illegal for you to work under that. So if you can only earn 999 EUR, then sorry, you should just as well starve to death according to the Government, because you are not allowed to work for 999 EUR.
What happens when you have 3-4 revenue streams? What if you earn 300 EUR from 4 different revenue streams? You would earn 1200 EUR, but according to this it’s illegal to earn 300 EUR from 1 place, so you can’t earn cumulatively 1200 EUR, so you should just be unemployed instead.
Yeah I’m not saying that many people work at 4 or more jobs at a time, but it’s possible. And it’s not certain whether some minimum wage laws apply to individual income or payroll income as well.
What happens when you are just a private contractor? Can your contractor pay you less than minimum salary?
For example blogging revenue is usually regarded as private contractor income, since either the ad company or whatever revenue source will relate to you as a private independent contractor.
So can the contractor pay you less than minimum wage? So why can’t an employer pay less than that too?
The relationship between Steemit and it’s bloggers is also this:
10.6. Relationship. Nothing in these Terms is intended to nor shall create any partnership, joint venture, agency, consultancy or trusteeship,
you and Steemit being with respect to one another independent contractors.
So what happens when minimum salary laws would become extended to contractor income as well?
Well people who would earn 999 EUR or below (overwhelming majority), would be forbidden to use the platform then.
So who knows maybe you’d earn 500 EUR here, 500 EUR from another blog and maybe 500 EUR from trading Bitcoin. You’d make 1500 EUR gross, monthly.
And all of it would be swept away with the power of a pen, since from then on, it would be illegal to earn lower than 500 EUR from 1 individual source. So your entire income system goes away from 1 stupid law.
How would that make you feel? Now the same exact thing is happening to employee income with the minimum wage laws!
So do you still think minimum wages laws are good, or have you figured out the stupidity behind them?
Sources:
https://pixabay.com
