It also increases the cost of goods.
Minimum wage plus cost of fuel plus taxes shoves the costs over onto the consumer, which increases costs to the consumer.
GOOD.... 15$ per hour unemployed and no health insurance..
Obama is punishment to America... the democrats should “FEEL IT”...
This idea has been falling on deaf ears for decades: look up “Walter E Williams minimum wage”.
the more unemployed, the more kept out of the workforce, the more on welfare. the more on welfare, the more votes for democrats inorder to keep the government bennies flowing.
sounds more like strategy than compassion
Spot on if you have to pay $15p/h for a person you are going to hire one worth $15p/h and expect more than you would from a $7p/h person. Also those currently on $15p/h will be looking for a raise!
I work in a high skill job and make plenty of money doing what I'm doing. So I'm not complaining. I'm making ends meet and then some. But who couldn't use a little extra money?
I generally don't work on weekends and usually get home at reasonable hour on the weekdays so I do have some time available to work a second job and increase my income even more. However, those low-wage service jobs never appealed to me and the extra money I'd make from working one wouldn't be worth the aggravation.
However, if they started paying $15 an hour, it might be worth my while to take one of those jobs and put in 20-25 hours a week. That would add $300 or more a week to my income and that is nothing to sneeze at. Even when taxes are taken out, now I have some serious extra cash I can spend on myself. I can get that new iPad I've been wanting or get that new billiards table for the rec room without the wife getting all goofy on me. I could get some new suits for my daytime job or maybe take a weekend trip to Vegas every once in a while. In other words, that second job will be "splurge" money for me as my daytime job takes care of everything else.
And if fast food joints are suddenly forced to spend $15, then they would want the best quality people for that money. Who wouldn't hire somebody like me? I've got 25+ years of superior performance and dependability. I never call in sick, I'm never late and have excellent customer skills. I'd run circles around all those disaffected youths and allergic-to-work loser-types that mostly work those jobs today.
There will be millions of other people like me vying for those jobs. People that were happy working the one full-time job but suddenly see the appeal of a second job now that some some serious cash is up for grabs. There's not many of us who couldn't use an extra $200-300 a week in their pockets for working a stress-free job in their spare time.
Not one liberal in a thousand would even understand what this article is saying.
ZOOOOM -right over their heads.
when an employer can hire someone with x+1 skills and x+1 education at a certain pay level, why would they keep hiring persons with x-1 skills and x-1 education for the same pay - they wouldn’t; and they don’t
and the Liberals wonder why the “permanently unemployed” has been increasing throughout the era of the increasing “legal minimum wage”
on a local TV channel forum last week, where they were discussing NJ’s new, increased, minmum wage, one of the panelists referred to - in a supportive way - some economist’s prediction that the increased minimum wage would “boost” the NJ economy by a certain %, due to the “extra spending” those earning the higher minimum wage would do;
it seemes everyone else on the panel was as economically ignorant as she was; no one challenged the assumption
no one pointed out that there was no “extra money” entering the NJ economy by way of the increased minimum wage;
employers additional payroll expenses WOULD BE OFFSET in a number of ways with negative income impacts in places other than those earning the minimum wage
employers could increase the prices of their goods; which will result in consumers paying more for the goods sold by employers with whom the minimum wage is paid, which will result in consumers offsetting those price increases by lowered spending on other things
employers could negotiate to pay less to local suppliers - passing some of the cost of their labor increase back through their supply chain; to the extent they do, their suppliers will get less revenue, have less to spend and will spend less, somewhere in the economy
employers could cut back on maintenance supplies, cleaning, landscaping, hours of operation, etc., etc., spending less on them in the process
employers could eliminate some of their employees, making do with fewer workers, since they are forced to pay more for them; the laid off workers will not be getting wages to spend anywhere, as soon as their unemployment runs out
there are myriad ways in which the employers COST of the increased minimum wage WILL BE OFFSET by revenue & spending reductions in the NJ economy, offsetting any “extra spending” the minimum wage workers themselves will be doing
the minimum wage increase does not come from “new money” that miraculous enters the NJ economy; what it gives to someone in the economy, it takes from somewhere else in the economy
There won’t be many fast food jobs. People won’t pay $17 for a Happy Meal. Most of the Fast Food places will go out of business.