Posted on 02/12/2013 9:07:11 PM PST by Olog-hai
President Barack Obama wants an increase in the minimum hourly wage from the current $7.25 to $9 by the end of 2015. Obama also proposes the minimum wage be required to keep pace with inflation. …
The proposal, which Obama made during his State of the Union address Tuesday, is sure to draw opposition from business groups and congressional Republicans who say higher rates increase costs and reduce employment. …
(Excerpt) Read more at hosted.ap.org ...
“Jumping the min wage to $9 per hr would be inflation on steroids”
Absolutely correct. These idiots don’t understand that value and wealth is relative. If entry level non-skilled labor should go from $7.25 to $9.00 per hr, then current $9.00 jobs would shift proportionally to about $11.15 per hour. Then the progression continues on up the skill/knowledge chain. So, nothing actually changes. EXCEPT this; we now live, work and compete globally. Therefore, those jobs and tasks that can be outsourced off-shore will be. Causes more unemployment and increases the size of our welfare state - which is what Obama and the Dem’s want anyway.....
You make a HUGE assumption. I do not think they would vote it down. They could blame the GOP for the fallout... AND it seems pretty obvious to me that the destruction of the American private-sector economy IS their goal. It would be a win-win for them - they achieve their goal, and get to blame it on the other guy.
Um...Wall Street loves this guy and they prove it by their contributions and the fact that ALL THOSE GUYS want more government buying more stuff that the American people can no longer afford to buy. You see, they were all educated in the Ivy league which has historically promoted such notions that 1)communism is an acceptable form of government 2) socialism is an acceptable economic policy 3)anyone who thinks Liberty and Freedom are sacrosanct are “not cool”, “old fashioned”, a relic from the past, dogmatic, rigid, nationalistic, and xenophobic. The market will do his bidding by way of the Federal Reserve making sure savers are mercilessly slaughtered while forced risk taking to obtain a decent return on investment is nothing more than the same Wall Street using the power if the institution to fleece the retail investor.
I think it might have been Williams, an economist, trying to demonstrate the fallacy of minimum wage laws.
Kahn Academy has an economics class on rent control, showing how the rent control laws distort the market, leading to less value being created, but also leading to higher share of the value being accumulated by a loud minority.
for minimum wage laws, the beneficiaries are union scale workers whose wages are calculated as a multiple of the minimum wage, if their wages are a small part of the project (not closing down the project due to costs).
He has to rais the minimum wage. It goes hand-in-hand with printing more unbacked money.
Well, at least I was right about the markets heading downward after the State of the Union address. :-)
In my opinion, the stock market in general (and Wall Street in particular) represents what's great about America and Conservatism in particular. Investors have a stake in free enterprise and are rewarded when a business does well but also have the potential to lose it all. It's a concept lost on countries where socialism has destroyed all traces of risk-taking and individual initiative.
While I certainly agree with both of you concerning crony capitalism and also concur that there are those in the investment community who adore Obama, I think of the stinking hippie scum that formed "Occupy Wall Street". In my opinion, the human debris of that movement were the real Obama partisans and they opposed Wall Street and the American way. And need I add that Rick Santelli (granted he's with the Board of Trade and not Wall Street) fired the shot that led to grassroots rise of the Tea Party.
Love it. I’m loving me some NoDak now. Wow! A place that works on classic American principles. Who’d a thunk it.
Be prepared for Barry’s team to throw the monkey wrenches in.
Anybody following the EPA scandal?
Dark days in our country (as FOUNDED ON EVIL NOTIONS)....But N.D. and Texas give me a bit of hope.
Yes, I suppose I am. Although I've been a monthly donor for over a year and a half.
Republicans should pass a “minimum wage” bill setting the minimum at at least $100 trillion per hour.
I may be small-thinking but I haven't taken LSD for a few decades now.
Which EPA scandal?
I may be small-thinking but I haven't taken LSD for a few decades now.Republicans should pass a “minimum wage” bill setting the minimum at at least $100 trillion per hour.
Of course, the idea is to make a point, not to pass a law. You want to make the point, you choose a number such that nobody not currently on LSD could possibly think that the idea could conceivably work.It is a testament to my respect for Democrat malevolence that I proposed also putting a poison pill in the bill to assure that no Democrat actually would vote for it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.