Posted on 07/24/2009 6:57:18 PM PDT by SeekAndFind
So today the minimum wage goes up by government mandate. What a time for celebration, right? What wonderful compassion is being show by our government, right?
We have no idea whether any workers will actually make more money as a result. But consider what is really happening today that we know for sure:
A: Small business owners just took a pay cut.
B: Some hourly workers will get less hours.
C: Some hourly workers will get laid off.
D: Some union contracts just got raised.
E: None of the businesses affected will have one more penny in sales volume as a result.
F: There has still never been a sighting of the mythical "family of four trying to make it on one minimum wage income."
G: If such a family were sighted, they still could not make it on one minimum wage income.
Isn't government intervention into the economy fantastic?
Could kill the recovery.
Enjoy your $8 Big Mac value meal.
What, you’re not gonna pay $8 for a Big Mac meal?
Well, look on the bright side, the lunchtime crush at McD’s won’t be nearly as bad.
if obamanation is still trying to kill the small businesses, this is another hammer hit.
I doubt it. But I am getting so tired of trying to convince freepers otherwise.
Here is a good fair analysis which looks at both sides:
http://en.wikipedia.org/wiki/Minimum_wage
parsy, who doubts $28 per week is going to drive anyone out of business
Someone please show me in the Constitution where it says that the Congress can dictate a floor or ceiling on wages for private enterprise.
government policy that forces unemployment. Wonderful.
if a small business figured they could make money from hiring someone at $8/hr, then they will do it, but if they’re forced to pay $10/hr, they’ll be running at a lost, then its better not do hire
“Here is a good fair analysis which looks at both sides:”
In fairness, this amount is nowhere near the record inflation-adjusted amounts of years passed. It doesn’t even match the amount from the Reagan years.
When I’ve argued this with liberals, I usually explain it this way:
The Congress has dictated that if you can’t produce over $7.25 worth of goods and services, you have no right to a job.
True. But if it went up 25 an hour, there are some who just take it like the Apocalypse.
parsy, who thinks our nation will survive
The truth of these wage hikes.
John Doe had a job before the wage hike. Now he doesn’t have a job. He used to be poor, but now he’s broke.
Isn’t government intervention just wonderful?
A national minimum wage makes zero sense. The cost of living is not uniform across the nation; $7 per hour can be a living wage in some areas of the US, and not even close to 1/3rd of a living wage in others.
This is yet another case of a one-size-fits-all solution being forced on the nation regardless of the applicability of that solution.
Leave it to the States. The Fed’s should have zero say in the matter.
The minimum wage isn’t going to kill the recovery. There is no recovery.
Parsy and I argue about the minimum wage all the time, but anyone who says that a minimum wage raise killed this ‘recovery’ is full of crap. Unless, we’re talking about eradicating the whole idea of a ‘minimum wage’, which would help matters, but only if we went back in time.
When wages are going up anyway, it makes little difference, provided that the increase is not too much.
That’s not our situation. Wages should be going down to clear the market. They aren’t because the minimum is already higher than the market wage in a lot of industries. This won’t help.
Add that to the list of other problems we’ve got, and I am not optimistic. Just read in the WSJ that 7 banks were taken over today. And there is another $15MM bank waiting in the wings—Guaranty Financial.
Our nation has ‘survived’ a lot of things that have built up over the years to a level that is unsustainable. That’s a part of it. We’re now paying the price and our children and grandchildren will really see what it means to have less, because we weren’t willing to sacrifice ANYTHING, but sacrificed EVERYTHING for it.
If you think govt intervention into the economy is bad, wait until you see (more) govt intervention into health care.
I remember making just over minimum wage back in 1970. I earned $1.45 cents an hour. We heard of our engineer making $5.00 and hour and wished we were making that ammount.
When I retired I was making over 5 times what the engineer was making in 1970 and was barely able to keep my head above water.
Now I am retired and living off Social Security with no COLA this year and a pittance from my company retirement. I pinch pennies till they squeal!
It is not in there, but neither is the majority of what the fed govt does. And yes, that is a problem.
How about looking at this on a monthly basis and assume that you've got 5 employees. That's a $560 hit.
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