Posted on 07/25/2007 10:45:52 AM PDT by DCJeanGrey
Except that the minimum wage doesn’t create any new capital. If companies are forced to pay more salary they will compensate elsewhere, like layoffs or price increases.
Anything that would return less than $5.15 an hour to an employer is not now being employed anywhere in this country because of the minimum wage. The opportunity cost to the economy can’t be calculated.
If they really wanted higher wages for American labor, they would push for tariffs on countries without labor protections and enforce immigration laws to restrict supply.
In reality, they seem to just want to put private industry out of business and force the U.S. to import goods or depend on the government for goods and services.
The SEIU in Kalifornia is full of illegal intruder undocumented “workers”.
This union gets the majority of it’s membership dues from them. The union is working hard to keep the illegals coming in across the border.
Translation: Libs Want Another, Bigger payoff to the worthless unions.
Want to see a liberal scream. Introduce a clean minimum wage bill on the floor of either house, i.e. “Be it enacted that the minimum wage in the United States shall be X”.
This, instead of the usual “amendment to the Fair wages and standards act of 1938” with all it’s union contract tripwires.
Remember, that the minimum wage was originally enacted so that nobody could undercut the union wage, which is pulled out of thin air instead of being based on the cost of production.
The Democrats seem hell bent on slowing down the economy for some reason.
My uncle who is a doctor once said “money for education is out there if you look for it hard enough”. In this economy, just about anyone can afford a decent education (through student loans and such) which will get them needed skills in this global economy we live in.
When are we going to have all legislatures- Federal and State levels put bills forth that are ONE topic only?
I am tired of all the piggybacking on everything.....
Having said that- I wonder how many jobs are going to be carved out of the economy when small businesses let part of their staff go over the increase in payroll costs????
What is the actual lowest paid wage in this economy?
I have always thought that the minimum wage should be $1/hr to link currency to labor. This wouldn’t work for economists who believe that we need to have a steady rate of inflation to encourage investment, but I believe the prominence of the stock market and retirement investment practices has already established economic habits that won’t be affected by a 2-4% inflation rate disappearing.
What is the actual lowest paid wage in this economy?
Can you say hyperinflation?
My German mother tells a joke about the economic situation before Hitler.
When theives encountered a wheelbarrow full of cash, they took the wheelbarrow.
They factory operators also let the workers off early on payday, before the value dropped!!
BTW, in 2009 the minimum wage with EIC will be $9.40/hr for a family of three.
hey, pay everyone an extra $100/hour and adjust the price of everything accordingly...
think the dollar sucks now?, after the increase we’ll que up Dr Phil “How’s that working for ya’ll”...
That could be a negative number, depending on how you define labor and wages. Students and interns sometimes pay money to have the possibility of much more later on.
What is the actual lowest paid wage in this economy?
I'm not spending too much effort looking at that end of the job market.
If mom and pop only use and sell products produced within state boundaries, they could make a good argument that no interstate commerce was involved. If they purchase something across a state line, the feds will claim that is interstate commerce. That's the hook they employ to justify gun control laws. The manufactured product crosses state lines enroute to the retailer.
Cranking up minimum wage just means more unemployment for legal citizens and more cash under the table to illegal aliens to cover the labor needs.
How’s this?
http://www.usbig.net/whatisbig.html
The Basic Income Guarantee (BIG) is a government ensured guarantee that no one’s income will fall below the level necessary to meet their most basic needs for any reason. As Bertrand Russell put it in 1918, “A certain small income, sufficient for necessities, should be secured for all, whether they work or not, and that a larger income should be given to those who are willing to engage in some work which the community recognizes as useful. On this basis we may build further.” Thus, with BIG no one is destitute but everyone has the positive incentive to work. BIG is an efficient, effective, and equitable solution to poverty that promotes individual freedom and leaves the beneficial aspects of a market economy in place.
The term BIG is more specific than terms like income maintenance or income support, which refer to any kind of program designed to aid those with lower incomes. The Basic Income Guarantee differs from existing income maintenance programs in the United States and Canada in that it is both universal and has no work requirement. It is therefore, very simple and easy to administer. It helps the working poor, single parents, and the homeless, without placing anyone under the supervision of a caseworker.
Where does that "extra money" come from? Employers will have two options - (A) raise rates or (B) hire fewer workers. Option (A) means you pay more for goods and services. Option (B) means that there are fewer opportunities for low-skill workers to learn critical job skills.
There's also option (C) - hire under the table.
.
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