Posted on 08/10/2016 1:12:03 PM PDT by QT3.14
aising the minimum wage is one of those wonderful-sounding ideas that, whenever tried, unfortunately never quite works the way it was promised. To its credit, the Washington Post has noticed.
The Post recently highlighted a new study from a group of economists who were commissioned by the city of Seattle to look at that city's minimum wage hike from $9.96 an hour to $11.14 an hour. What they found was enlightening.
To begin with, the economists said, some of the workers weren't helped at all, since their pay would have likely gone up anyway with experience and tenure on the job.
But the city didn't bargain for what happened to other workers it had sought to help: "Although workers were earning more, fewer of them had a job than would have without an increase," the Post said. "Those who did work had fewer hours than they would have without the wage hike."
(Excerpt) Read more at investors.com ...
Every argument for an increase in minimum wage can be defeated by this simple question; if $15 an hour is a good idea, why not increase the minimum wage to $30/hour? If they agree just keep raising it until they say that it is too much. At that point you have won the argument because they will agree that raising the minimum wage negatively influences jobs.
They made it illegal for someone to work if they couldn’t produce more than $11/hr value.
So, people insufficiently productive lost jobs.
Go figure.
The minimum wage is $0, and always will be................
The function of increasing the minimum wage is to (hopefully) spur price inflation, increasing “growth” and monetizing the debt.
That is what it is all about.
When the 3rd party of government tells a business owner that he must pay $1 extra to Sam, this is $1 the owner cannot spend and give to Bill, Mary, Sally, George, Harry, Susie....
When the 3rd party of government tells a business owner that he must increase entry level pay by $1, this is $1 the owner cannot invest in mid-level pay, senior-level pay, raw materials, construction, retirement, health care, infrastructure, advertising, supplies....
At that point you have won the argument because they will agree that raising the minimum wage negatively influences jobs.”
If by they you mean the libs, there will be a snow blizzard of epic proportions in hell before they ever acknowledge that the policy to increase minimum wage was wrong or resulted in anything adverse.
On a somewhat related note, I would like to tell you MY story. In May, Obama, through Executive Order, or a Department of Labor regulation, raised the threshold for overtime pay for salaried employees from $23,600 to $47,500. I was due to be promoted in June. I am a wage employee. I was going to be salaried. Get benefits, a car, potentially bonuses. Come Obama’s pronouncement, and my promotion has been put on hold. My company is nationwide, and they have to digest the ramifications of this increase. How much will it cost? How do they track the hours? Am I worth it? (from their perspective? The promotion appears to be a dead issue. I was in line for a 20% raise. Nice.
And, that business owner cannot reinvest that dollar in the business, to make the business grow, which would create more jobs. Lots of issues, as you note, are tied in with raising the minimum wage.
It doesn't actually have to help anybody, it only has to fool them into voting Democrat.
Yes libards... it’s called market equilibrium. Its what happens in reality versus the perverted, delusional, skittle-crapping unicorn universe created in the polluted minds of you clueless nimrods.
The question is not whether raising the minimum wage helped workers / employers or not.
The only thing that socialist politicans are concerned with is did supporting the raise help them to win election? After getting elected they then stay in office by promising to pocket ..um.. spread the wealth by raising taxes.
That is probably the best and most succinct description of the law of economics at work here.
There are 2 sides to that issue; should a company work an employee earning $23,600 80 hours per week?
I’m no socialist or communist, but we have to accept that people who feel exploited (sometimes with justification) vote, and they aren’t voting for our candidates. When companies lose lawsuits because they force employees to do work before/after their shifts (OFF the clock), those companies deserve to lose - it is wrong, and robbing those workers of wages.
President Trump will eliminate the minimum wage. It will happen after he’s reelected. Cowards that enjoy getting laid will talk about lost compassion.
Bringing Back Free Market Competitiveness, Opportunity, and Growing Economy
FIRST ON THE LIST: 1. Unconstitutional job/business-killing federal minimum wage.
2. High taxes.
3. Unconstitutional suffocating dead-end regulations.
4. Unconstitutional federal protection of unions.
Trump talks about regulations and taxes, never talks about minimum wage or or union protection. BOTH need to GO.
Supply and demand. It’s the law.
Color me gobsmacked on 2 counts:
1 - The obvious, as you stated so well, as regards insufficiently productive...
2 - And, that this was published at all rather than being hidden in dark corner.
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