Posted on 10/18/2005 11:31:05 AM PDT by lilylangtree
WASHINGTON, Oct. 18/PRNewsire/--Yesterday, while introducing his amendment to increase the federal minimum wage to $7.25 an hour, Senator Edward Kennedy (D-MA) chose to ignore the economic reality of mandated wage increases. Senator Kennedy claims that his minimum wage increase is meant to help hurricane Katrina victims, many of whom are poor minorities. He does not mention that only 8 percent of the beneficiaries from his wage increase will be single mothers, and only 4 percent will be single mothers in poverty.
Senator Kennedy further claims that raising the minimum wage is a minority issue, but he declines to mention that only 4 percent of the benefits will go to African American families living in poverty. Senator Kennedy also ignores research from Cornell University, which found that African American young adults suffer four times more employment loss from a minimum wage increase than other affected employees. In the four states affected by the hurricane, this would amount to another disaster.
"Senator Kennedy has clearly confused his political rhetoric with economic reality," said EPI's executive director Rick Berman. "He doesn't want Americans to know that only 15 percent of the beneficiaries from his wage increase are the single parents with children he so often references. He doesn't want Americans to know that half of the beneficiaries are 25 or younger, the majority don't work full time, and a quarter work fewer than 20 hours a week. He certainly doesn't want Americans to know that because the majority are dual earners the average family income of a beneficiary from his proposed increase has a family income of nearly $42,000 a year."
"Decades of research show that increasing the minimum wage creates job loss for low-skill employees while providing the majority of benefits to non-poor individuals who are not raising a family on a single minimum wage income," Berman said.
The Employment Policies Institute is a nonprofit research organization dedicated to studying public policy issues surrounding entry-level employment. For additonal information or to schedule an interview with Rick Berman call Sarah Longwell at 202.463.7650.
I wouldn't say he ignores economic realities. He just doesn't care.
The concept of "minimum wage" is stupid. More to the point, it is unconsitutional!
I support Dennis Miller's [sarcastic] view on this. Make minimum wage $200,000/year.
For that, I'll change jobs!
Having owned several businesses, I can tell you that his legislation will put a lot of people out of work. When there is a mandated wage increase it only causes other things to go up. Like rent, groceries, etc. Small businesses are the backbone of America. Something that Kennedy knows NOTHING about. I wish that fat POS would die of a heart attack. We'd all be better off.
Link? :)
Kennedy only has 3 or 4 issues and just keeps getting more shrill (and irritating) repeating the same tired mantra endlessly.
Don't have a link. Just pulled the press release from the news service my office subscribes to.
The bottom line on all of the minimum wage nonsense is that it is a tax increase.
How's that you ask. Well, the teenagers who live with mom & dad will be paying more in taxes if they earn more money. Thus more money to the treasury via bracket creep.
Why dignify this man's existence with any kind of acknowledgement?
Forgot to add that is the cost of burgers and such increases due to the higher costs the greater the sales tax revenue is also
What if your economic output does not have a value of $7.25 per hour?
If Teddy Kennedy had not had rich parents, he would be a bar tender or a used car salesman. The judgment of anyone who gives him serious attention is unreliable.
Could you imagine a bar owner saying "Ted, I'm going home for a while. You're in charge of the bar. Keep an eye on the liquor"?
When in 1962 Edward Moore Kennedy ran for his brother’s seat in the Senate, his opponent famously said that if Kennedy’s name had been Edward Moore, his candidacy would have been a joke.
Then you and Teddy can become drinking buddies. He's buying.
Can't you figure it out? Results are meaningless, it is the good intention that means everything.
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