web analytics
November 23, 2014 / 1 Kislev, 5775
At a Glance
Blogs
Sponsored Post
IDC Herzliya Campus A Day on Campus

To mark IDC Herzliya’s 20th anniversary, we spent a day following Prof. Uriel Reichman, IDC’s founder and president, and Jonathan Davis, VP for External Relations, around its delightful campus.



Does a Minimum Wage Really Help the Poor?

Goldstein 485x300

In the second part of the Goldstein on Gelt podcast this week, Professor Walter E. Williams, economics professor at George Mason University and author of Race and Economics: How much can be blamed on discrimination? discusses why setting a minimum wage is not the ideal solution for unemployment and poverty. Listen to more of Professor Williams’ unique ideas about the economy on this week’s show.

About the Author: Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm located in Jerusalem. He specializes in working with clients who live outside of the United States and want to maintain a U.S. brokerage account. Doug’s newest book, co-authored with Susan Polgar, about how using chess strategies to improve your finances, Rich As A King can be purchased at www.richasaking.com. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, SIFMA, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

3 Responses to “Does a Minimum Wage Really Help the Poor?”

  1. Rina Gray says:

    What a BS. yes minimum wage helps people allot. Because if you get minimum wage + bonus, + working over 8 or 9 hours, people get salary they could live on. If there would be no minimum wage, employer would pay whatever they wanted, but now they couldn't. And minimum wage is indexated with more years you work. So stop to post BS. USA have no normal minimum wage and people, who even work, live on food stamps, because their salary is not enough to live on.

  2. Rina Gray says:

    What a BS. yes minimum wage helps people allot if they have a job. Because if you get minimum wage + bonus, + working over 8 or 9 hours, people get salary they could live on. If there would be no minimum wage, employer would pay whatever they wanted, but now they couldn’t. And minimum wage is indexated with more years you work. So stop to post BS. USA have no normal minimum wage and people, who even work, live on food stamps, because their salary is not enough to live on. There is “poor” people in Israel not because our life is so hard, but because some people have more kids, that they can afford, and some people didn’t want to work, and prefer to sit on welfare. By the way many religious people, belong to this category. Maybe you should go and teach them how to stop to make kids more, than they could feed, and stop to play “poor” card. This days anyone, who want to work, can find the job.

  3. Leila Cook says:

    While I agree with the theory behind why minimum wage ultimately hurts poor people, Professor Williams leaves out a crucial point when he states that a woman having a $5 or $6 an hour job is preferable to not having a $8 or $9 an hour job. Many times, if a single parent household is relying on public assistance, getting a $5 or $6 an hour job provides just enough income that many families are kicked off of the help they are relying on and now they are forced to make ends meet on their own and the wage they are earning per hour doesn't cut it. I don't want to debate the moralities of the welfare system. But if we are going to say that there needs to be no minimum wage, I think we need to also acknowledge that everything is going to have to be reformed, including the social safety net. Many, many women find themselves at the mercy of a divorce or death that they had no control over and need things like food assistance, tuition assistance, affordable daycare to be able to recover and get back on their feet. It is more beneficial as a society to allow these women (or men) to be re-educated and offer them a way to have a higher earning job because they are then able to return the favor and begin contributing back into the system. It takes more than just complaining about the minimum wage to accomplish this.

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
US Secretary of State John Kerry with German Foreign Minister Frank-Walter Steinmeier before P5+1 talks. Nov. 22, 2014.
BREAKING: West About to Cave on Key Iranian Demand
Latest Blogs Stories
President Ruby Rivlin

President Rivlin’s recent statements are only half right, and that’s why he’s completely wrong.

i_love_jerusalem

This is our song “Learn to Love;” May joy and light be restored to Jerusalem speedily in our days.

Free-Jonathan-Pollard-Poster

I have a dream…President Obama will go to that prison, Pardon Jonathan Pollard and set him free

Rabbi-Twersky-112114

The burden of proof that a person is against Israel but not anti-Semitic rests on that person.

Bibi’s promising a good battle, not a victory in the war; We need to WIN the war against terrorism!

For 1000s of years it was perfectly OK for Jews to pray on Herod’s Extension of the Temple Mount.

The focus on the “Occupation” since 1967 is yet another invention to justify hatred and murder.

It should be clear Israel’s existence is not the real issue; the issue is Islamic fundamentalism.

But I am not afraid.I know this is Jewish land, not because of UN/foreign gov’ts saying we can exist

A grassroots initiative of hundreds of Chareidim from Har Nof is underway to attend the funeral of Zidan Saif and to pay their respects to the fallen policeman and to the Druze community in the village of Yanuch-Jat in Northern Israel.

Discover the world of NY high society and its intrigue.

A Jew is no more exempt in this war by living in the US or UK than I am enlisted by living in Efrat

Officer Zidan Sayif saved lives in the Har Nof Massacre, but was shot in the head and is now fighting for his life.

“Y.E.” a United Hatzalah paramedic was injured while treating the wounded under fire in the Har Nof Massacre.

It is time the leaders in Israel and the world realize this has nothing to do with settlements or the Temple Mount or a fake claim of occupation and everything to do with radical Islamic barbarism!

The Leftist Israeli media has always been unabashedly political;To them “objective”=”in my opinion”

More Articles from Doug Goldstein, CFP®
Doug Goldstein

Discover the world of NY high society and its intrigue.

Doug Goldstein

Lear the the secrets of self-publishing your book from, expert Hank Quense

Why is good financial communication so important in marriage? And the dangers of credit cards.

How much control do banks and governments have over money and what should their function really be?

Doug addresses the question, ” When should one start claiming Social Security?”

When is it a good idea to accept a “draw” and when is it better not to do so?

Why do people often sabotage their own success ?

Has the Jewish world adapted to the times? Hear the answer with Doug and his guest, Rabbi Berel Wein.

Printed from: http://www.jewishpress.com/blogs/goldstein-on-gelt/does-a-minimum-wage-really-help-the-poor/2013/08/21/

Scan this QR code to visit this page online: