Everyone loves a raise.
Minimum Wage is the ultimate Feel Good legislation. It hurts a lot more people more than it helps.
Yet another way Obama is destroying America’s economy and jobs. Weaken USA and make as many Americans dependent on the politicians for our daily bread. The communist subversion - from on top- program is pushing full speed ahead.
Since the inception of establishing a “minimum wage” the very basic coin of the realm,the cent, has become valueless. Todays penny costs more to make than its assigned value. Even Canada stopped making them.
Yet this is not an argument for abolishing the coin itself. But to point out when a minimum wage rate is raised it affixes a given rate of inflation to the period of time it’s emplaced. All raising the minimum wage does actually is devalue the dollar because costs (purchase prices) eventually get adjusted in time, which is never discussed by those advancing the argument, to compensate for the devalued increase..
When economists discuss monetary value, which is the purchasing power of that unit, they allways refer to the top value of the coin of the realm in our (US) case it’s the dollar which is composed of 100 cents not the most basic unit which is the penny. .
A case in point is in the 1940’s a candy bar cost 5 cents when the hourly minimum wage was $.50 per hour. What does it cost today ? Likewise what were the costs of basic goods and services during that period of time as compared with todays basic wage feel good tinkering ?
Who gets hurt the worst when these adjustments are decreed by government? It’s those living on fixed incomes who’s income value is based on previous minimum wage levels such as social security but not adjusted to the previous current rates of inflation. and that also includes living on government subsidies because those subsidies eventually get increased. .
When these feel good socialists frauds under the democrat party banner propose these increases. That is never considered as they pound their breasts claiming they’re for the little guy. All they’re doing is un-necessarily raising the price on goods and services broadening the demand that those affected seek help from them..
All quite academic as it is coming and nothing on earth can stop it.
They’ll cram it onto ballots in every state, town and county where they can. It will pass overwhelmingly in all of them. Then the Pubbies will cave.
The unions know the results of minimum wage increases. They know it affects the low skilled sector of workers competing in the job market. Because of their low level of skills, they are under-productive workers. They need those entry level jobs to give them those skills that make them more valued as a worker. These are most likely your children who are living at home; trying to improve their marketability through job experience and raising money to get further education. The unions know this too and know that to make it harder for your child to increase their marketability, the better it is for the union.
The unions know that when minimum wages go up, businesses hire less entry level workers or, even worse, move elsewhere. These low skilled workers are instantly chopped out of the job market. That means your child will be living with you much longer as they seek work in non-existent jobs. It means that your child will not be able to afford further education; which puts that economic burden on you. The unions know this too. They know that the more they can keep the unskilled unemployed, the better it is for them.
Because the unions have virtually made the non-skilled worker uncompetitive, they now can demand higher pay and more jobs for skilled union workers. In fact, unions build into their contracts a corresponding across-the-board pay increase for the percent of increase of the minimum wage. This brings more money into the union hierarchy through the increase in dues. These dues can be used to buy the political process for Democrat politicians.
The minimum wage also drives up the cost of goods and services. Once economic equilibrium has been reached, the benefits of the minimum wage increase become offset by higher living costs. The only ones who benefit are the calculating union hierarchy who are lining their pockets and the pockets of their Democrat friends at the expense of the duped citizen.
Seattle’s new socialist mayor is pushing hard for a $15/hr minimum wage.
I hope they pass it.
There’s nothing left but to let them provide a real world example. So get on with it.
Hardly anyone can say “No” to higher minimum wages, because the American people truly believe that higher such wages will benefit everyone.
What is the Chamber of Commerce’s take on this? Does the MW help or hurt the cause of illegal immigration?