Posted on 02/04/2014 6:36:13 AM PST by ThethoughtsofGreg
The Democrats, their union supporters, and liberals in general are making a hard and concerted push for an increase in the minimum wage. President Obama mentioned the subject prominently in his State of the Union address on Tuesday night and even promised to take executive action to increase the minimum wage federal contractors must pay their workers starting in 2015. While Republicans and small business owners are sure to resist this push, it is important that everyone on both sides debates the issue with the correct facts. Much of what you hear about the minimum wage is completely untrue.
First, people should acknowledge that this rather heated policy discussion is over a very small group of people. According to the Bureau of Labor Statistics there are about 3.6 million workers at or below the minimum wage (you can be below legally under certain conditions). That is 2.5 percent of all workers and 1.5 percent of the population of potential workers. Within that small group, 31 percent are teenagers and 55 percent are 25 years old or younger. That leaves only about 1.1 percent of all workers over 25 and 0.8 percent of all Americans over 25 earning the minimum wage.
(Excerpt) Read more at forbes.com ...
If you are going to have a minimum wage law for employees, you need to have a minimum profit law for the employers of those employees.
Any company that doesn't earn a minimum profit gets a supplement from the feral government to bring it up to the minimum-profit level.
Profit inequality must end!
Those are COMPELLING statistics.
It seems that ALL we can ever expect from this administration are falsehoods, fabrications, misdirections, mendacity, prevarications, ruses, hoaxes, and, of course, LIES!
Now is completely the opposite, wrong time, to raise the minimum wage.
Absolutely not. No.
Bring back American jobs.
Jobs. Jobs. Jobs.
Let’s see...40% of black youth are unemployed, can’t even find a job flipping burgers at $7/hr..but they’re gonna ALL get hired at $10.hr..
Anybody who has taken Economics 101 knows that forced economic floors like minimum wages and ceilings like price controls send shock waves throughout the economy, severely disrupting supply and demand. In this case, minimum wages drives up a company's costs forcing price increases or forces the company to hire fewer people to keep the costs and prices the same. Either way, entry-level workers like teenagers and those with little education are denied work.
Minimum wage is just one of many examples of how the results of Socialist government programs do exactly the opposite of its stated intentions.
Minimum wage = $0.00 per hour.
The value of ANYBODY’S wage is only equal to the amount of increase in value that results from work product. This may be either goods or service, but the only reason anybody is ever hired, is because the person who is adding value to a product or service, has more than he or she can personally handle.
The concept of productivity, that is, increasing the margin of value due to the effort and concentration of the worker over a given period of time, is what drives an actual increase in wages. Automation, which augments, but does not entirely replace the worker, can at times vastly increase this production of goods or services over a given period of time. Fewer workers producing more goods and services, means each worker has justified an increase in hourly wage.
The attitude of the union organizers has been, “If we weren’t here, nothing would get made!” But this has been overturned in recent years with the increased automation of repetitive tasks, which results in far fewer live persons being on the factory floor, and their duties are largely confined to maintaining the smooth function of the machinery, not laboriously handing one part up and placing it on one of a string of identical units passing by a given point.
Because the one person tending the machines is vastly more productive than all the dozens of individuals who are handling only one small part of the overall assembly of the product, the one individual is very well paid. The dozens remain unemployed.
Or at least until they have prepared themselves to be one of the persons tending the machines, or go into one of the service industries that otherwise provide the smooth flow of commerce from the point of production to the point of consumption.
But that won’t matter as it continues to poll at least 63% approval every time it comes up.
A Federal minimum wage law is patently unjust and unconstitutional government action that needs to be repealed, nullified , or in some way no followed. In that sense many conservatives are on the wrong side of the illegal immigration issue, apparently not realizing that the hiring of illegals to process crops in California UNDER the minimum wage keeps food prices down. Anything anyone can do to get around unjust and unconstitutional laws should do so. Rebellion against government injustice was how our country was formed.
If you raise the minimum wage the cost of living rises in response which devalues the new minimum wage. (Not to mention the inevitable loss of jobs)
After much soul searching I have decided that it is totally unfair for me to be six feet and four inches tall when so many men are below average height. Something must be done, I would not relish the idea of having my feet cut off to bring me down to average height so the obvious solution is to have the government pay for special elevator shoes to bring all those guys who are 5’4” up to my height. Of course that presents another problem, some men are far taller than even I myself so that means we need to have the government create some shoes to bring everyone up to seven feet even. Anyone over seven feet will simply have to undergo surgery to bring his height down to seven feet. It would cost too much to rebuild everything from cars to buildings to accomodate people who are eight feet tall.
Right - another way of saying that forced economic floors like minimum wage increases prices for the same quantity of the same goods. On a very micro scale, that right there is a basic definition of inflation.
“Much of what you hear about the minimum wage is completely untrue”
What I hear from business owners about the minimum wage is mostly true.
It should read what you hear about the minimum wage from politicians and the MSM about the minimum wage is completely untrue.
In fact, you could say what you hear about anything from politicians and the MSM is completely untrue.
To the government, jobs are social programs.
Democrats: Let’s Ban Profits!
Peter Schiff speaks to mainstream DNC delegates who want to see a cap or ban on corporate profits.
http://www.freerepublic.com/focus/f-news/2927490/posts
Repeal wage control.
Repeal the minimium wage laws.
AMEN. That is plain and solid truth.
All we need to do is end the minimum wage. WATCH as some 30 million illegal immigrants no longer assured of a "minimum" wage in America (a wage that is equal to a very good income in the cardboard villages of Mexico) for entry-level jobs where their only compeititon is dumb teenagers. Then get rid of government welfare, health and education entitlements for "minority" illegals, and watch ... NO NEED for more border control or bigger fences. The minimum wage probably contributes more than any other single factor to our huge illegal immigration problem; all the free government services provided by a "compassionate" nation to poor minority illegals is the second biggest factor.
Fences and harsher border control will only deprive more legal Americans of more of their tax dollars, and will solve zip. They didn't cause the illegal immigration problem, and hence won't solve it. Getting rid of the minimum wage would end many evils in the USA.
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