web analytics
March 3, 2015 / 12 Adar , 5775
At a Glance
Blogs
Sponsored Post


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, 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.

Current Top Story
President Barack Obama and Iran do not speak the same language..
Any Deal Is a Bad Deal
Latest Blogs Stories
Jeffrey Goldberg

Goldberg chose to believe two impossible things before I had breakfast this morning.

bibi's speech

The State Department claims Bibi revealing details of the bad Iranian deal to Americans would be a “betrayal”.

Jordana and the Flag!

“Please stop shushing me” They kept shushing! Shushing seems to be how Leftists do Israeli politics!

peace in our time iran

Labor-Livni post-Zionist party’s campaign based on their claim they know how to keep the US happy

Mentioning genocide in the same breath as Susan Rice crosses a redline about Obama’s foreign policy

What are the ramifications of giving up your US citizenship? Would it effect your visiting the US?

Chasidim believe that Metzitza B’Peh (MbP) is an essential part of the circumcision ritual.

AMERICAN INTERFERENCE in ISRAELI ELECTIONS is IMMORAL and 1000% CHUTZPADIK!

Extremism from Jews is considered a “danger;” Arab extremism and anti-Jewish terror is “legitimate”

It was in fact Israel, not Palestinians or journalists, who began spreading the older photos, in order to generate credibility for the “slander” angle.

Next week we celebrate Purim, more relevant and illuminating in light of current events than ever

“They all attack each other” is how David described campaign tactics. “Welcome to politics, my son,”

Most Israelis think kowtowing to US demands to get on Obama’s “good side” won’t work and isn’t right

Big questions this week: Does materialism make people happy? Can one be happy with what they have?

A Rosh Yeshiva guessed 60% of bochurim in Israel’s yeshiva system belong there only 3-4 yrs post HS

More Articles from Doug Goldstein, CFP®
Doug Goldstein

What are the ramifications of giving up your US citizenship? Would it effect your visiting the US?

Doug Goldstein

Big questions this week: Does materialism make people happy? Can one be happy with what they have?

The necessity for setting financial goals and how to realize your life’s dreams.

Discussing the connection between speech and thought and how a foreign language affects decisions?

Can a business trying to find solutions to world problems be profitable?

In our second podcast this week, Doug meets James Clear, entrepreneur and expert on personal habits. How easy is it to change your behavior to achieve your goals? And how can you improve your financial habits if they are deeply ingrained? Listen to your favorite personal finance show for the answers to these questions and […]

Does wealthy always equal healthy, and how do personal relationships affect your financial success?

Find out about the relationship between money and life and why you need to budget and save

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: