Posted on 01/16/2023 7:08:47 AM PST by SeekAndFind
Gov. Kathy Hochul, after crawling to a first formal term, announced a plan so brilliant that it could have only come from Elizabeth Warren or a drunken Marxist. And I don’t mean Groucho.
“Gov. Kathy Hochul on Tuesday used her second State of the State address to unveil a wide-ranging agenda for 2023, vowing to tie New York’s minimum wage to the rate of inflation”
Brilliant plan.
Then every time the cost of goods and services rises, so will wages, which will increase costs and lead to a rise in the cost of goods and services, which will increase wages which will increase inflation.
If only there were a term for this? Oh right, wage-price spiral.
Don’t worry, as Bernie Sanders would say, we’ll just pass another law banning excessive spending, raises, profits or freedom.
Hochul is too dimwitted to even understand the consequences. And even if she weren’t, it’ll scope some woke points which is all that she cares about.
New York’s small businesses are already on the ropes. Now Gov. Hochul is telling them they can’t control payroll which leads them to think that they won’t be able to make payroll.
But it’s okay. I’m not sure there was much of a future for small businesses in New York anyway.
That kinda removes one of the brakes on runaway inflation.
She is a malicious imbecile.
That’s one way to cause Hyper-Inflation. Can you say Weimar Germany?
No.
Or puts NY out of business.
I know it’s very tempting in the horrible Brandon economy to demand more pay to keep up, but that’s the worst thing we can do. As harsh as it sounds, since the good guys don’t yet have the power to stop the democrat price inflation, the only thing that will keep inflation from running totally out of control is to take some money out of people’s hands until (if) the situation can be stabilized. That will probably mean a recession and many lost jobs, along with wage stagnation for those who retain their jobs, but it’s currently the only option.
Inflation is caused by “too many dollars chasing too few goods.” Putting even more dollars artificially into consumers’ hands (without increased productivity) by raising wages is exactly like handing them COVID relief checks, only much worse because the effect of the wage increase ripples through the economy forever. In a rational economy, no one would ever receive a pay increase unless they took on more duties and were promoted, or they increased their productivity. That would also require, of course, the government to stop spending money it doesn’t have. If those two things could be achieved, there would be no reason for prices or average wages to increase…EVER, and that would be a GOOD thing. We’ve gotten used to the idea that everything, including wages, should go up over time but that just isn’t true. That only occurs because we and our elected officials can’t seem to resist the urge to spend tomorrow’s money on what we want today, which is also why we are in so much debt.
How about put an end to the dole for any able-bodied citizen, and nothing at all for illegal aliens.
The faster NY crashes the better and I live here. The crash needs to be so painful that that even the lefties notice.
Sounds like a great idea to me so long as they also tie Social Security benefits as well.
From Klaus's lips to Kathy's ears.
The crash needs to be so painful that no one is any doubt as to the cause of the crash.
That too.
While I agree government shouldn’t be involved or printing more money, there have been a lot of things done to protect “retirees” over the last many decades that benefited no one but them and frankly the whole concept of being able to retire at some fixed aged without having accumulated a substantial amount of wealth is a very new and unnatural concept
The WuhanFlu lockdowns were DESIGNED to kill off small biz as they are predominantly run by non-commie trash. This plan is just another tool with the same goal.
Agreed.
Sweden is often touted as the poster-child for abolishing the minimum wage. However, the Nordic nation using a Nordic model is certainly no free-market free-for-all. Instead, minimum wages are set by sector or industry through collective bargaining. Their currency of choice is the krona.
Nearly all Swedish citizens belong to one of about 110 trade unions and employers' organizations that negotiate wage rates for regular hourly work, salaries, and overtime.
Swedish law limits the workweek to 40 hours, just like in the U.S. However, it also dictates that all workers are entitled to 25 paid vacation days and 13 additional public holidays each year, far more generous than the U.S. standard.
Relations between workers and employers in Denmark have been deemed downright harmonious due to the lack of a federally mandated minimum wage.
Trade unions negotiate for workers to be paid a reasonable wage.
Iceland does not receive very much attention except for its breathtaking scenery. However, this tiny island nation consistently ranks among the happiest countries on earth, along with every other nation listed here, because of its low crime rates, high wages, and happy, healthy populace. People like to retire there.
Employees in Iceland are automatically enrolled in trade unions, which are responsible for negotiating baseline salaries for the industries they represent.
Norway is yet another northern nation that has eschewed a federally mandated minimum wage in favor of having union-negotiated wages set by industry. Norwegians enjoy good job security, healthy wages, and ample vacation time.
Basic hourly wages vary by industry. However, unskilled workers in the agriculture, construction, freight transport, and cleaning industries, for example, earn minimum rates ranging from $16 to $21 per hour, with increases based on experience and skill level.
Switzerland did not have a minimum wage until recently. On September 27, 2020, Swiss voters approved the minimum wage of 23 Swiss Francs (CHF) per hour for all industries.
Isn’t it a wonderful thing to watch progressive liberal politics, destroy their own tax base they just think they can legislate prosperity for everyone
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