How do libertarians feel about government spending?

Libertarians generally advocate a society with little or no government power. According to the American Libertarian Party, libertarianism is the advocacy of a government that is funded voluntarily and limited to protecting individuals from coercion and violence.

What does abolishing the minimum wage mean?

It means that companies that hire minimum wage workers are going to make smaller profits; invest less in their businesses, and spend less. 00:00:01.

What happens when there is no minimum wage?

Without minimum wage laws, items would be cheaper in stores as business owners are able to provide items at a lower cost since they do not have as much invested into each item. However, this would have to be necessary since people would not be making as much.

Was the minimum wage meant to be a living wage?

Contrary to what some opponents of the “living wage” minimum wage may argue today, there is no question FDR intended for the minimum wage to support the wages of fully employed adult men and women working in professional trades, not merely teenagers working part-time jobs or those in entry-level positions.

Do Libertarians believe in prisons?

Most libertarians oppose capital punishment. Furthermore, if people commit crimes, they may sacrifice their rights and if the legal system is legitimate, perhaps capital punishment is justified.

Why we should raise the minimum wage?

Opinion: Why raising the minimum wage is good business. When the minimum wage rises, it puts money in the pockets of those who most need to spend it, from paying the rent to buying more groceries to picking up lightbulbs, tools and paint from the local hardware store. A higher minimum wage means more money circulating in the local economy.

What are arguments against minimum wage?

Another argument against minimum wage is that it contributes to inflation. Here’s how it works: If a manufacturer is suddenly forced to pay his workers $7.25 an hour instead of $6.55 an hour, he needs to raise the price of his product to recoup the costs.

What are the effects of raising minimum wage?

The Effects of a Minimum-Wage Increase on Employment and Family Income. Raising the minimum wage would increase family income for many low-wage workers, moving some of them out of poverty. But some jobs for low-wage workers would probably be eliminated and the income of those workers would fall substantially.