Posted on 02/17/2013 8:47:34 AM PST by RoosterRedux
In the real world, setting a floor under the price of labor creates winners and losers. Some workers will get a $1.75 raise. Great. But others—typically the least educated and skilled—will be priced out of the job market and their pay won't rise to $9. It will be zero.
University of California at Irvine economist David Neumark has looked at more than 100 major academic studies on the minimum wage, and he says the White House claim of de minimis job losses "grossly misstates the weight of the evidence." About 85% of the studies "find a negative employment effect on low-skilled workers."
The minimum wage is also an ineffective way to reduce poverty. Most families in poverty don't have someone who works, so making it more difficult to get a job exacerbates poverty. Mr. Obama says that a "family with two kids that earns the minimum wage still lives below the poverty level. That is wrong."
He left out that most minimum-wage earners are not the primary bread winner. Nearly 40% live with a parent or relative. The average family income of a household with a minimum-wage worker is about $47,023—which is far above the poverty line of $23,550 for a family of four.
(Excerpt) Read more at online.wsj.com ...
Obama doesn’t have a clue about economics. He is simply pandering. That is all he knows how to do. America will not survive four more years of him. No way.
Why not make it $15.00 per hour. Then everyone would be making a "living wage" and all that extra money would stimulate the economy. At $15.00 per hour people who had quit looking for work would go back into the work force because it would be worth their while. All of these people working would mean more money being paid in taxes which would get us out of our debt problem. At 15.00 per hour I'm sure minorities would get off welfare and go to work.
I'm sure my dad would agree with all of that.
Geeze, i already don’t have a patriotic answer to the question I get from my high school kids when they ask why do we have to check the I am White box on tests when all those who are not white automatically get entry and scholarship money?
Blacks are ecstatic over this and are cheering Obama.
What happens when reality actually sets in?
Jobs evaporate but the link to this law isn't clear if you don't understand economics.
And when that doesn’t work, they will demand a strengthening of the law, and that won’t work either, so they will again demand increasing the number, which won’t work either, so they will again ...
There is no reality for them. They have lived in a contrived world of being kept and favored so long they would not be able to recognize reality from the fantasy they live in.
Their whole perspective is warped. This the problem. This is the “new normal” and it is perverted.
One of 2 things
1) They'll ignore it.
~OR~
2) They'll blame Republicans [Whitey]
Here’s the real problem...
If on the surface, the minimum wage sounds good to a lot of people, they will accept it, and want it to get implemented.
On the surface, if it forces the “greedy, evil, rich” to give up some of the wealth which they got out of the “lowly, and victim worker”, then a great number of people will want corporations to have to “give it up”.
The people who want that kind of program, are only “thinking” on the surface, which is no thinking at all, and the democrats know that, those people can’t and won’t be bothered to follow through on the repercussions of any liberal proposition or liberal program. The $17 trillion national debt: somebody else’s problem, and no need to explain why it’s a danger to the whole country, because, most of them will just not understand or can’t be bothered with the facts and repercussions.
he doesn’t care, they will then get free money for doing nothing. he’ll cement in more obamavoters.
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