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New bill looks to increase minimum wage to $10
The Arizona Daily Wildcat ^ | June 19, 2012 | Max Efrein, journalism and history junior

Posted on 06/20/2012 12:23:55 AM PDT by 2ndDivisionVet

Minimum wage has been a topic of debate ever since the creation of the Fair Labor Standards Act in 1938. Just this month, U.S. Rep. Jesse Jackson, Jr. of Illinois has attempted to once again bring the discussion into a modern context. Jackson introduced a bill to Congress that calls for an immediate raise of the federal minimum wage up to $10 from its current standing of $7.25, according to the New York Times.

This may seem like an extreme jump, but this increase was proposed in Washington, D.C. on Wednesday, June 6, 2012. In fact, President Obama stated back in 2008 that he would increase the minimum wage to $9.50 by 2011. This, as with many noble initiatives Obama had in mind to carry out during his first term, have been deemed a lost cause considering the current congressional stalemate.

In relation to this dilemma, it is likely that Jackson’s efforts will fail, especially considering the bill lacks the support of those working for such outdated prices, who don’t believe a wage increase is justified.

“I think I’m getting enough money for what I do. I mean, making food doesn’t really deserve a huge paycheck,” said Jacob Yakoubek, a speech, language and hearing sciences junior at the UA who has worked at IQ Fresh in the Student Union Memorial Center for nearly two years. After three pay raises since his start, he is making $8.25 per hour. When asked whether he could sustain himself without the help he receives from his parents for his living expenses, he said, “I could survive, it would just suck. I wouldn’t be able to afford any fun stuff, God forbid a family.”

For Yakoubek, as well as for more than 19 million other Americans working for less than the proposed $10 rate, according to The Economic Policy Institute, his paycheck could hardly be considered “huge.” Huge would be the more than $20 million JP Morgan’s Chairman, Jamie Dimon, earns on an annual basis, according to the U.S. Securities and Exchange Commission.

The wealth gap has been growing dramatically, a trend that’s likely continue. From 1973 to 2007, the minimum wage fell 22 percent in real dollars and domestic corporate profits increased by more than 50 percent, according to Time Magazine. Two-thirds of the American population supported raising the minimum wage according to a Public Religion Research Institute poll in 2010. It’s because of statistics like this that Jackson has brought such a pertinent issue to the forefront during an election year.

If the government is willing to bail out outlandishly large banks and corporations such as JP Morgan, it is inconceivable that it should not also provide a break for those who need it most in our country: the people.


TOPICS: Business/Economy; Government; Politics
KEYWORDS: congress; democrats; economy; gop
I've never understood how is it the goverment's business to dictate what a company shall pay a worker?
1 posted on 06/20/2012 12:24:07 AM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

That’s nothing.

OWS demanded a $25 minimum wage.


2 posted on 06/20/2012 12:26:39 AM PDT by moonshot925
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To: moonshot925

You think we’re in a recession now? Raise the minimum wage to $10 or $25 an hour! Problem is all the “magical thinking” going on out there. Many think “well, now that the minimum wage is $25/hr., any job will be great!”
Yes, perhaps, but try getting that job in that situation!
Taco Bell will automate or go out of business if they have to pay that kind of money!


3 posted on 06/20/2012 12:43:42 AM PDT by 2ndDivisionVet (Ich habe keinen Konig aber Gott)
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To: 2ndDivisionVet
If the government is willing to bail out outlandishly large banks and corporations such as JP Morgan, it is inconceivable that it should not also provide a break for those who need it most in our country: the people.

It's apples and oranges. On the one hand, you have federal manipulation of funds available to the government, by whatever means. On the other hand, you have the dictation by fiat that businesses must compensate employess at a certain level. Not the same thing at all.

4 posted on 06/20/2012 12:51:09 AM PDT by dr_lew
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To: 2ndDivisionVet

Anyone who has taken an introductory economics course is familiar with the idea that a minimum wage leads to a reduction in the demand for labor and an increase in the supply of labor in the relevant market — usually, the market for low-skill workers. The minimum wage removes the ability of some workers to compete by accepting lower wages and shuts them out of the labor force. As a result, it reduces job opportunities for these workers. A minimum wage breaks the hinges on the door of opportunity.


5 posted on 06/20/2012 12:51:56 AM PDT by moonshot925
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To: dr_lew

Look at his college major and weep.


6 posted on 06/20/2012 12:57:33 AM PDT by 2ndDivisionVet (Ich habe keinen Konig aber Gott)
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To: 2ndDivisionVet

If the government is willing to bail out outlandishly large banks and corporations such as JP Morgan, it is inconceivable that it should not also provide a break for those who need it most in our country: the people......Max, Max, Max. It is NOT the government “bailing out” the people. It is the employer who is being robbed.


7 posted on 06/20/2012 12:58:22 AM PDT by Safetgiver
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To: 2ndDivisionVet
This bill, if passed, will create a lot of well-off workers. In China.
8 posted on 06/20/2012 1:03:10 AM PDT by tdscpa
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To: moonshot925
minimum wage breaks the hinges on the door of opportunity.

Which anyone who is not a low grade moron understands. Problem is, at least 30% of the electorate do not understand, and the dems WANT more government dependent unemployed, so from a purely political (power grabbing) perspective, the push for a minimum wage hike makes sense (for the demscum) and may even succeed.

God help us. Please.

9 posted on 06/20/2012 1:04:42 AM PDT by piytar (The predator-class is furious that their prey are shooting back.)
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To: dr_lew

The fed has always thought it was their money..It is not. It is my money.


10 posted on 06/20/2012 1:47:45 AM PDT by richardtavor
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To: dr_lew

The fed has always thought it was their money..It is not. It is my money.


11 posted on 06/20/2012 1:47:48 AM PDT by richardtavor
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To: 2ndDivisionVet
Look at his college major and weep.

a speech, language and hearing sciences junior at the UA

Speech, language and hearing? I learned all of that by kindergarten.
I think if he added a minor in potty training he might have a better career path.

But seriously, this idiocy is what's wrong with the young leftist diptards these days.

Instead of actually studying something that might be intellectually demanding and marketable, say computer science or a hard biological science, he studies some nonsense that will only guarantee him a place in either the unemployment line or behind the counter in a fast food franchise.

Then this 'learned' fool has the temerity to think the problem with his pay is that there are not enough laws to force people to hire him and pay him more money when his skill set does not go beyond what a normal child learns in kindergarten.

Someone is overpaying for his college education and they are being totally ripped off by the academic establishment - they are doing nothing more than providing the stupid with the chance to go to 'college' and learn nothing more than what they learned in nursery school.

12 posted on 06/20/2012 1:49:21 AM PDT by Bon mots ("When seconds count, the police are just minutes away...")
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To: 2ndDivisionVet

How to Decide Upon a College Major

...if you are not sure...

1.) Look through the help wanted ads (Monster.com, indeed.com, etc.)
2.) What is really being sought? See how much they pay.
3.) AGAIN! See how many ads are being placed for that particular field of study. LOTS OF ADS = LOTS OF OPPORTUNITY
4.) See where those jobs are located (is there a geographical focus for the industry and is that location acceptable/desirable?)
5.) DO NOT PICK SOMETHING THAT PAYS POVERTY WAGES OR THAT IS NOT SOUGHT BY EMPLOYERS!
13 posted on 06/20/2012 1:55:22 AM PDT by Bon mots ("When seconds count, the police are just minutes away...")
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To: 2ndDivisionVet
ackson introduced a bill to Congress that calls for an immediate raise of the federal minimum wage up to $10 from its current standing of $7.25, according to the New York Times.

Great Idea to increase Teen Minority Unemployment. Well, not only that but Teen Unemployment overall. Great Idea Democrats, I'm sure teens who can get their first jobs really appreciate it.

14 posted on 06/20/2012 2:40:10 AM PDT by sr4402
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To: Bon mots
Speech, language and hearing? I learned all of that by kindergarten.

When I saw that, I assumed that he's learning to be a therapist, although that won't be his only option. Speech, language, and hearing sciences is actually a fairly rigorous science-heavy major. It will probably serve him well in the future. He was also pretty honest about the value of his work right now, before he has the degree. The kid seems pretty level-headed to me.

The other person mentioned in the article--the one introducing a bill for a raise in the minimum wage--is a total idiot. Sure, let's make sure the country remains an attractive destination for illegal immigration, by encouraging businesses to hire "under the table" so they can pay low wages and no taxes. It's not like we're pricing American kids out of the market with that < /s >.

15 posted on 06/20/2012 2:41:45 AM PDT by exDemMom (Now that I've finally accepted that I'm living a bad hair life, I'm more at peace with the world.)
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To: 2ndDivisionVet
Pricing American citizens out of the job market is a good way to increase illegal alien invader employment...

...goes with the Obama unconstitutional amnesty dictate.

16 posted on 06/20/2012 2:53:12 AM PDT by Happy Rain ("Call me racist but Obama is not God.")
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To: 2ndDivisionVet

At least they could be honest enough to note that the extremely resistant unemployment rate is concurrent with the summer ‘09 rise to $7.25 and that the youth unemployment summer after summer is very high. I know they manage to fudge that all away every time it’s mentioned, but there is common sense.


17 posted on 06/20/2012 2:54:45 AM PDT by gusopol3
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To: moonshot925
As a result, it reduces job opportunities for these workers. A minimum wage breaks the hinges on the door of opportunity.

Minimum wage seals the door good and tight... exactly why the usual suspects [e.g. U.S. Rep. Jesse Jackson, Jr.] are all for it.

18 posted on 06/20/2012 2:54:52 AM PDT by Ezekiel (The Obama-nation began with the Inauguration of Desolation.)
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To: 2ndDivisionVet

Maybe the government can dictate that we get back all the industry we shredded over the last 40 years too ...


19 posted on 06/20/2012 4:15:10 AM PDT by Neidermeyer
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To: Ezekiel
They are just looking at ways to pay off their union buddies one more time. An increase in minimum wage guarantees an automatic pay raise for union wages, usually by a factor of 2.5 to 3 x the increase.
20 posted on 06/20/2012 4:16:28 AM PDT by bitterohiogunclinger (Proudly casting a heavy carbon footprint as I clean my guns ---)
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To: 2ndDivisionVet

The minimum wage should be $36 per hour for a 40 hour week. This equates to $75,000 per year which has been shown the be the income level of the happiest people. Of course to pay for it all income above that would be taxed at 100%. Perfect income distribution, Utopia.


21 posted on 06/20/2012 4:57:46 AM PDT by Any Fate But Submission
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To: 2ndDivisionVet
New bill looks to increase minimum wage to $10

Gimme, Gimme, Gimme. Dat graby train jus keep rollin along!!

22 posted on 06/20/2012 5:12:58 AM PDT by GoldenPup (Comrade "O" has got to GO!!)
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To: piytar

Good point, but the problem with this analysis is the flip side, that there IS a big problem with unemployment.

That side is growing and is poised to become the majority.

At that point we are through. America is finished. Through. That is the part all of this misses.

We miss out on the America side of the problem. We miss out on the Europe side of the problem. Everything goes to China, which is only interested in one world.

Theirs.

They’re not there yet, but once they are, there’s no way back...


23 posted on 06/20/2012 5:14:07 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: 2ndDivisionVet

It’s not about paying people a fair wage. It’s about putting hundreds of thousands of dissatisfied young people out in the streets. How else are they going to get their revolution started? OWS didn’t work.


24 posted on 06/20/2012 5:40:40 AM PDT by newheart (At what point does policy become treason?)
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To: 2ndDivisionVet

The last time the Dems raised the minimum wage we went in to an immediate recession and we haven’t come out yet.


25 posted on 06/20/2012 5:45:25 AM PDT by csmusaret (I will give Obama credit for one thing- he is living proof that familiarity breeds contempt.)
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To: 2ndDivisionVet

Y’all are missing it.

Forcing inflation.

Ya know all that talk about “put the dollar on the gold standard”? The dollar IS on a commodity standard: mundane labor. A dollar is worth 8.28 minutes of “anyone can do this with no/minimal training” work. The proposal is to devalue the dollar to be worth 6 minutes of commodity labor. When enacted, any boost in buying power by the poor will soon be matched by price increases to equalize _value_ for which a dollar is a malleable arbitrary representation; raise the wage of the guy pumping gas and the price of gas will rise in proportion. Sure it will take time to ripple thru the system, but it _will_ cause inflation.

Raise minimum wage per hour from $7.25 to $10? That’s a devaluation of the dollar - aka inflation - of 27.5%!


26 posted on 06/20/2012 7:39:50 AM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: ctdonath2
raise the wage of the guy pumping gas and the price of gas will rise in proportion.

Last time someone pumped my gas I paid 78 cents a gallon and he was paid about 3 bucks an hour...

Now I pay 4 dollars a gallon and I pump the gas myself and pay to a machine...

Maybe you need a better example...

Most of the retailers sell Chinese made junk to Americans that cost them next to nothing to purchase...How much are they really making???

The wealth gap has been growing dramatically, a trend that’s likely continue. From 1973 to 2007, the minimum wage fell 22 percent in real dollars and domestic corporate profits increased by more than 50 percent

Is this true or not??? Where the truth lies in this statement will likely influence my position on the issue...

27 posted on 06/20/2012 8:21:41 AM PDT by Iscool (You mess with me, you mess with the WHOLE trailerpark...)
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To: 2ndDivisionVet
If the government is willing to bail out outlandishly large banks and corporations such as JP Morgan, it is inconceivable that it should not also provide a break for those who need it most in our country: the people.

How about cutting taxes, that would help "The People" more than anything.

28 posted on 06/20/2012 8:24:11 AM PDT by dfwgator
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To: 2ndDivisionVet

The bottom line is, many Union contracts are tied to the Minimum Wage.


29 posted on 06/20/2012 8:26:12 AM PDT by dfwgator
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To: Iscool

Yeah, couldn’t think of a better example at the moment. “Guy pumping gas” flowed better than “guy sits inside the gas station watching you pump gas” and got the same point across. Whatever the anecdote, point is that upping BY FIAT what someone gets paid WILL cause prices to rise across the board.


30 posted on 06/20/2012 8:47:10 AM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: Iscool

As minimum wages increase, the market compensates with changes which drive down the inherent value of those jobs.

Flipping a burger has inherent value. Force payment for that up too much, and the employer will find a cheaper way to flip that burger (say, get a machine to). Now the real value of flipping a burger has decreased as a consequence of demanding greater pay being routed by finding an even cheaper way to do the same job. The market can’t stand for this, so thru the ripple effects (not easily described in a flippant chat-board post) the value of that “increased” minimum wage must be driven down to match. If flipping a burger has an inherent value of $5/hr, and we mandate paying $7.50/hr, the market will compensate by driving the value of a dollar down so that the “new” $7.50 has the same buying power as the “old” $5; in fact, the momentum of decreasing the value of the dollar (”hey, I can buy a machine that will do that cheap, but I’d rather have a human do it”) carries on an makes that “new” $7.50 really worth an “old” $4 ... a 20% effective decrease in minimum wage value. AND! the employer still charges the customer enough to cover an “old” $5, with the difference going in his pocket instead of the employee’s.

Upshot: raise the minimum wage, and (once market forces ripple through) you’ll decrease what the employee can do with it, and increase corporate profits. Increasing minimum wage has exactly the opposite practical effect from what’s intended.

If you don’t like “real dollar” minimum wages falling 22% and corporate profits rising 50%, stop screwing with the minimum wage!


31 posted on 06/20/2012 9:00:16 AM PDT by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com)
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To: 2ndDivisionVet

The republicans should immediately propose amendments to this bill to raise it to $100/hour, $500/hour, or $1000/hour. Let the idiots who proposed the bill explain why $10/hour is not inflationary, while $1000/hour is.


32 posted on 06/20/2012 10:54:22 AM PDT by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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