Posted on 04/18/2015 9:46:09 PM PDT by 2ndDivisionVet
Dan Joseph is on a mission. Who supports a $50/hour minimum wage? What better place to put forward such a bold initiative than in the free speech zone on the sanctified grounds of George Mason University in Virginia.
(VIDEO-AT-LINK)
Now, while Joseph was able to find a few supporters, some students on campus knew that raising the minimum wage will lead to job losses and increased pricing for some goods. One man called the law racist and he’s not the only one. The late economist Milton Freidman described minimum wage laws as the most anti-African-American law on the books, as he explained in his 1966 op-ed for Newsweek:
Does a merchant increase his sales by raising prices? Does higher pay of domestic servants induce more housewives to hire help? The situation is no different for other employers. The higher wage rate decreed by Congress for low-paid workers will raise the cost of the goods that these workers produce—and must discourage sales. It will also induce employers to replace such workers with other workers—either to do the same work or to produce machinery to do the same work or to produce machinery to do the work.
Some workers who already receive wages well above the legal minimum will benefit—because they will face less competition from the unskilled. That is why many unions are strong supporters of higher minimum-wage rates. Some employers and employees in places where wages are already high will benefit because they will face less competition from businessmen who might otherwise invest capital in areas that have large pools of unskilled labor. That is why Northern manufactures and unions, particularly in New England, are the principal sources of political pressure for higher legal minimum-wage rates.
The groups that will be hurt the most are the low-paid and the unskilled.
…
Women, teen-agers, Negroes and particularly Negro teen-agers, will be especially hard hit. I am convinced that the minimum-wage law is the most anti-Negro law on our statute books—in its effect not its intent. It is a tragic but undoubted legacy of the past—and one we must try to correct—that on the average Negroes have lower skills than whites. Similarly, teen-agers are less skilled than older workers. Both Negroes and teen-agers are only made worse off by discouraging employers from hiring them. On the-job training—the main route whereby the unskilled have become skilled—is thus denied them.
The shockingly high rate of unemployment among teen-age Negro boys is largely a result of the present Federal minimum-wage rate. And unemployment will be boosted still higher by the rise just enacted. Before 1956, unemployment among Negro boys aged 14 to 19 was around 8 to 11 per cent, about the same as among white boys. Within two years after the legal minimum was raised from 75 cents to $1 an hour in 1956, unemployment among Negro boys shot up to 24 per cent and among white boys to 14 per cent.
(VIDEO-AT-LINK)
Nevertheless, Joseph was able to receive more signatures than any other video in which he tried to get folks to support insanely liberal policy initiatives.
(VIDEO-AT-LINK)
Robot hamburger factory makes 360 Gourmet Burgers every hour...
http://www.freerepublic.com/focus/f-bloggers/3100817/posts
Too bad the libs can't understand that.
/johnny
Some do. One of my wife’s employees graduates next month and will start at $80,000+ at CapGemini.
And you might be sure this thing won’t spill in your food in name of social justice!:)
What a bunch of cheapskates. Who are they to dictate what salary someone must live by?
There are too many in this country who have no clue how the economy works.
Hell yeah!
I am a professional FaceBook surfer.
I really am very good at it.
Anything I find interesting, I can fully investigate in just an hour of sitting on my ass and typing on my keyboard.
Until now, I couldn’t support my family of five by surfing the Internet.
If I could pull in $50 per hour by doing my favorite thing (i.e. nothing) it would be great!!!
100K per year is what, I am sure you will agree, I am entitled to!
MaxMax: If you read the story I believe that’s the point he’s making by doing this.
It's even clearer if you also watch the video and follow the links.
That is all dependent on who is making the cheeseburger.
It takes time. I was a dishwasher for 3 years before I enlisted. I took a paycut. Best experience I ever had.
I wouldn’t be where I am today without being a dishwasher.
You’re right, the video’s funny as hell. It’s a spoof. I didn’t watch it before; just carrying-on the old FR Tradition of not reading before posting! Heh.
Because then bread would go up to $400/loaf instead of just $40 -- $400 would be just ridiculous......
Why no raise it commensurate with the money supply, also similarly mandate COLA's. Keep printing, keep raising. Make all this nonsense a zero sum game and end the theft of wealth from working Americans.
Well, $50 means everyone else sees a 5x increase in their wages. Cool. Means my mortgage is now 5x less than it is today.
Kidding aside, governments need inflation badly. It is the only way they can get out od debt. Of course, like most people and credit cards, they’ll continue to spend into debt no matter what happens.
Some people are natural-born retards.
Yep - nothing wrong with washing dishes or working at MacDonald’s. People used to understand that. Now they’re all “entitled” and “special”. When the malcontents take charge, idiocy rules. Common sense is on life support.
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