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World's Richest Woman Makes Case for $2-a-Day Pay: Should We End Minimum Wage?

Fef 2012/09/06 18:00:00
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Gina Rinehart can offend people without fear. The world's richest woman told those who envy the rich to drink less and work harder. Ms. Rinehart has another suggestion that may offend some people. Ms. Rinehart wants to end minimum wage laws in her country to make it more competitive. "The evidence is inarguable that Australia is becoming too expensive and too uncompetitive to do export-oriented business," Rinehart said at the Sydney Mining Club.

Minimum wage laws often hurt those it intends to help the most -- the poor. Certainly, nobody will get wealthy on minimum wage. But families can barely live on that low of an hourly wage. The law makes it hard for employers, which directly hurt consumers and employees. What good do minimum wage laws serve if they hurt employees and don't pay enough for families? Should we raise the wage? How much? How about $20 per hour? Why not $50 per hour?

LATIMES.COM reports:
Australian mining tycoon Gina Rinehart, the world's richest woman, says her country's businesses can't compete with places that pay as little as $2 a day to workers.
worlds richest woman countrys businesses compete places pay 2 workers

Read More: http://www.latimes.com/business/money/la-fi-mo-ric...

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Top Opinion

  • DJPanicDC 2012/09/05 23:02:26
    No, keep minimum wage!
    DJPanicDC
    +41
    big surprise the richest woman in the world wants more and she wants it from the workers
    That's why we need a maximum wage

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  • Charles... PC Game... 2012/09/12 15:46:11
    Charles Braley
    Kinda funny aint it? But definitly ironic - how that stuff has been going on in this country now for at LEAST a decade, and it is starting to get a toe-hold over there!

    Which reminds me ...... I also heard that their are(were) some in the upper echlons of Chinese Gov't who are vehemitly against lending the U.S. any more money! lol
  • PC Game... Charles... 2012/09/12 17:44:14
    PC Gamer Name "Angry Assassin"
    Either way, China is heading for their own "Financial Shock." I read an Article here in the San Antonio Express-News about Tom Frost who's the former President of Frost Bank. He was initially in favor of the repeal of the Glass–Steagall Act (under President Bill Clinton). However, he's now reversed himself & is calling for a permanent firewall to be instituted between Commercial Banks & Investment Banks (as was originally in the Glass–Steagall Act). He now realizes that if the Investment Banks go down, it'll take the Commercial Banks along with them. He testified before a Congressional Committee back on May 9th in support of such a move. I'll try to locate the Article & send You the link.
  • PC Game... Charles... 2012/09/13 04:23:06
    PC Gamer Name "Angry Assassin"
    Here's that link t the Article that I was talking about. Link: http://www.mysanantonio.com/d...
  • Charles... PC Game... 2012/09/16 03:05:49
    Charles Braley
    +1
    Thnx bud! know only if this ol geezer can remember his article(s)! lol
  • PC Game... Charles... 2012/09/16 05:19:53
    PC Gamer Name "Angry Assassin"
    No Problem.
  • Tre 2012/09/11 17:00:25
    No, keep minimum wage!
    Tre
    Cant get rid of it.
  • heartsonfire 2012/09/11 16:57:05
    No, keep minimum wage!
    heartsonfire
    No, but we definitly need to increase it.
  • Mike 2012/09/11 16:23:08
    No, keep minimum wage!
    Mike
    +2
    coming from a woman who sued her own children to keep them from their inheritance???

    asking the wealthy to tell us what is best for us is like asking a pack of wolves to lead us thru the forest
  • Charles... Mike 2012/09/12 03:35:03
    Charles Braley
    +1
    "asking the wealthy to tell us what is best for us is like asking a pack of wolves to lead us thru the forest"

    Yup - about it!
  • Lady Wh... Mike 2012/09/12 10:03:14
    Lady Whitewolf
    Why are you insulting the poor Wolves? What did THEY do?
  • Kozmo 2012/09/11 15:02:39
    No, keep minimum wage!
    Kozmo
    +3
    Typical hypocrisy of the rich, when they go through a door of opportunity, they slam it shut behind so no one can follow. She's Marie Antionette and wants us to do a "race to the bottom". The countries she laments about are performing State-sanctioned sweatshops with only the upper echelons getting rich. There should be some minimal international labors standards to allow trade.

    The $$$ have taken over people's ¢¢¢ (sense), money is God and Life has no value.
  • President Camacho 2012/09/11 14:29:24 (edited)
  • Hitsuin Preside... 2012/09/11 20:25:54 (edited)
    Hitsuin
    +1
    That's the deal in your mind, a lot of people on welfare don't have flat screens, smart phones, or a decent amount of food.
  • Preside... Hitsuin 2012/09/11 23:31:41
    President Camacho
    A lot do
  • Hitsuin Preside... 2012/09/12 02:04:13 (edited)
    Hitsuin
    This gives us two sides, making it unfair to tar everyone with the same brush.
  • Vieuphoria 2012/09/11 14:27:11
  • BamaBelle 2012/09/11 11:13:32
    No, keep minimum wage!
    BamaBelle
    Not all wealthy people are bad, we can not lump people together just because of money. Many people work very hard for the money they make. My father was so poor they didn't have indoor plumbing till he was 12 and this was in the 50s! But he worked hard and was ale to start his on business, made his first million by 28. But he always treated his employes with respect and thanked/rewarded them for loyalty. I was taught that no matter how much money a person has they should be treated with respect and dignity. That hard work was the answer and I wasn't going to be some lazy trust fund baby. There are wealthy people out there that care.
  • mrdog 2012/09/11 08:49:53
    No, keep minimum wage!
    mrdog
    +2
    Please.... this gal needs a few more Big Mac meals for lunch...poor thing...bark
  • Roy 2012/09/11 04:26:37
    No, keep minimum wage!
    Roy
    +4
    What a surprise this Jabba-The-Pizza-Hut-looking fugly who is trying to compete with the riches of the Vatican wants to take away the right to get paid a minimum wage. The richest 1% basically wish to FURTHER subjugate the world back to the old days of picking cotton on the plantations. Once again the tools of big business are working hard with tactics like this reverse psychology nonsense.

    Can't you see this constantly being done in American Politics? The most popular one is grunted and squealed by our 'republican friends' constantly called "Lowering Taxes" so they can further give all the breaks to the richest people there are. When will the madness end?
  • Lady Wh... Roy 2012/09/11 15:18:19
    Lady Whitewolf
    +3
    "The richest 1% basically wish to FURTHER subjugate the world back to the old days of picking cotton on the plantations...."

    Ain't that the truth? And the sad part is people are LETTING it happen.
  • jdemme 2012/09/11 03:51:09
    No, keep minimum wage!
    jdemme
    +3
    You mean a rich person doesn't want to pay people a livable wage? What a big surprise...
  • Charles... jdemme 2012/09/12 03:38:59
    Charles Braley
    +2
    Yeah - a real shocker, NOT! I mean, its only been that way for what? FOREVER?!?!?!
  • Bryan Longworth 2012/09/11 01:13:11
    Yes, end minimum wage!
    Bryan Longworth
    +1
    African American economist Thomas Sowell has document how minimum wage laws have negatively affected the poor, especially minorities. When the minimum wage rate is higher than what employers are willing to pay for an employee with limited skills, the employers don't hire the employees. As a result, the unemployment rate among African American teens today is 50%.
  • Realistic Bryan L... 2012/09/11 04:46:37
    Realistic
    +2
    Why does a Caucasian person, mainly a male, always bring Black people into every debate? We are all Americans. Right now if you turn on the news people, regardless of skin tone, are unemployed, earning low wages, losing their homes and apartments, and many people can't even afford food nor gas anymore. Thomas Sowell, if quoted correctly, is probably an Uncle Tom. Every race has backstabbers and back pedddlers. There is some degree of truth that when the economy is bad,it is worst for Black people. It is worst not because of limited skills or laziness. It is worst because of racism. Do you remember slavery? Racism still exists in the minds of some because of the propaganda passed down in generations through slavery. If our government invested in America and stopped Corporations from outsourcing jobs for cheap explotive labor we would not be in this dire economic crash. Some people are hell bent on keeping people poor through low wages. It is not a Black thing, it is a people thing!
  • Charles... Realistic 2012/09/11 09:02:14
    Charles Braley
    +2
    Unfortunately ......... The black community is disproportionatly the ones who are getting paid the minimum wage - as a percentage of their respective population, along with other minority groups and white single moms.
  • Realistic Charles... 2012/09/15 22:56:29
    Realistic
    Well said Charles.
  • Bryan L... Charles... 2012/09/24 02:00:24
    Bryan Longworth
    Most people don't make minimum wage all their lives. As they gain skills and work experience, they are able to obtain better paying positions. African American economist Thomas Sowell points this out.
  • Preside... Realistic 2012/09/11 14:31:20
  • Mike Preside... 2012/09/11 16:29:33
    Mike
    +2
    it is true what realistic says. lemme give you a clue
    what race makes the most money chart


    please learn to research. I hate doing it for others
  • Preside... Mike 2012/09/11 16:34:47
    President Camacho
    Its not because of slavery...its due directly to 50 years of progressivism.
  • Mike Preside... 2012/09/11 16:50:10
    Mike
    +2
    no it is due to 50 years of greed and and people who will sell themselves to anyone for money. most slavery nowadays is voluntary. I.E. signing pledges like Grover Norquist. or the doctrine for the New American Century. I.E. the forcing of their economic and political agenda down your throat for profit of those who put them in power
  • PC Game... Mike 2012/09/11 17:23:14 (edited)
    PC Gamer Name "Angry Assassin"
    2 minutes & 41 seconds of a Video that had NOTHING to do with the discussion at hand about the "Minimum Wage" and/or "Minimum Wage Laws." That's your Argument? Tilt Gas Prices
  • Mike PC Game... 2012/09/11 17:44:39
    Mike
    +1
    the truth is hard to wrap your head around but it all part of a bigger game to control what they will
  • PC Game... Mike 2012/09/11 17:50:58 (edited)
    PC Gamer Name "Angry Assassin"
    Your Video had "nothing to do" with the current discussion on the "Minimum Wage." The terms "Wage," "Minimum Wage" and/or "Minimum Wage Laws" was NEVER used once in that Video! So much for your Argument! All it was is someone's diatribe pushing their own Political Agenda. Like everyone else! And you want me to "wrap my head around that?" No, Thank You!Facepalm
  • Mike PC Game... 2012/09/11 17:58:49
    Mike
    not my fault you cannot see the larger picture. takes to long to explain to those who do not look
  • PC Game... Mike 2012/09/11 18:05:25
    PC Gamer Name "Angry Assassin"
    Please forgive me if I'm NOT into "World Conspiracies" of People that are trying to take over the World. If you get into that, I'd recommend "Dr. Kill Patrick." He's a good Psychiatrist!
  • Mike PC Game... 2012/09/11 18:23:56
    Mike
    the thing a bout conspiracies, they are often based in truth.
    here is something to think about because you are so into PC Games(I am too)


    the wild thing that you have to ask yourself is why has this not made the news and why hasn't either political party done anything about it. because they play on the same team. you just decide whether you want to lose your freedoms slowly or quickly
  • PC Game... Mike 2012/09/12 01:53:28 (edited)
    PC Gamer Name "Angry Assassin"
    Well, if You have "the proof," I'd suggest that You might want to provide more of it, because so far, nothings come through. Because if you brought this before a Jury, You'd be laughed out of Court for being a Moron! However, on the Issue on Electronic Voting Machines; this is something that both You & I "can agree on." However, I would point out to You that it depends "who has control" (Republican or Democrat) of the Electronic Voting Machines & the Memory Cards. The Memory Card is the "Achille's Heel" to the Voting Machine. The Memory Card can be pre-programmed to either "add or subtract" Votes from particular Candidates. These machines were supposed to prevent Voting Fraud. Unfortunately, It's just made it alot easier. I'm old enough to remember when here in Texas we had the Mechanical Voting Machines. It was somewhat harder to "fudge the Vote Count" because there was always a "Republican & Democratic" monitor present at the end of the last Day at the various Precincts when the Votes were counted & verified by the Republican & Democratic monitors when the Poll Judge took the Tally from the Machine. That guaranteed a fair Vote Count. That no longer exists! However, it still doesn't change the fact that You're using a Conspiracy Video that has nothing to do with the subject of the Thread Question at hand. A Conspiracy Video from "6 YEARS AGO?" Are You Kidding Me?
  • Preside... Mike 2012/09/11 23:32:42
    President Camacho
    Lol give it a rest hippie.
  • Mike Preside... 2012/09/11 23:35:20
    Mike
    lol, your gonna use a 60's analogy to describe me, LOL
    hippie

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