No wonder this state is going to hell.
Posted on 02/04/2014 3:42:44 PM PST by matt04
Gov. Dannel P. Malloy wants to increase Connecticut's minimum wage to $10.10 an hour by 2017, the same rate the president proposed for the federal minimum wage.
The Democrat said the increase would make Connecticut's wage the highest in the country.
Connecticut's minimum wage increased from $8.25 to $8.70 on Jan. 1. A second increase to $9 is scheduled to take effect on Jan. 1, 2015.
Malloy, who has yet to announce his re-election plans, said an even higher wage is needed to "tackle the growing income inequality" that's hurting the middle class.
"Part of tackling that critically important challenge is making sure that we recognize that a good and decent wage is good for workers and good for business," said Malloy at a news conference in Bridgeport. "For too long, the minimum wage has not kept up with the cost of living. As studies have shown, the workers who would benefit from a minimum wage increase brought home 46 percent of their household's total wage and salary income in 2011. When workers earn more money, businesses will have more customers. This modest boost will help those earning the least to make ends meet."
(Excerpt) Read more at wfsb.com ...
Huh?
P2 proposes a $50/hr minimum wage.
does this mean Malloy will start paying his interns?
Labor costs go up....so do the prices of the goods manufactured....Duh.
But, but businesses will have more customers! More Customers! /malloy
Of course not. They work for government some eeeevil business.
Let's raise the minimum wage to $500 and make every worker a millionaire! Hey! Why stop there? Let's raise the wage of everyone to $500/hour whether they work or not!
Cheap SOB. Why not $50 / hr. Now, there’s a real “living wage” and he won’t have to mess with it again for two or three years. Oh, and make them work for it too. There’s a novel idea!!!
If you own a business, and they arbitrarily raise the price of labor on you, you have three options. Cut employees and do more with less (maybe through automation), increase prices or accept a lower profit, and therefore a return on your investment. Probably some combination of the three occurs. So, overall, you have fewer low skilled workers employed, paying higher prices for things in an environment with fewer opportunities due to reduced return on investment. This is a recipe for a thriving economy?
Well that cheap Democrat. They should raise the rate to $30 per hour!
Malloy, he’s running again. He suddenly found a surplus in the State budget. We all get $55 bucks (of our money) back.
Hah, this is his buying the rest of the vote.
“”For too long, the minimum wage has not kept up with the cost of living.”
And why do you think that is, you moron? Minimum wage increases causes the cost of living to go up and minimum wage workers find themselves in the same position they were before the minimum wage increase. The cost of living does not freeze in place waiting for the minimum wage workers to catch up.
Why not try to repeal the laws of physics while you’re at it.
No wonder this state is going to hell.
One question: How is the cost of living in CT?..Betcha it’s much higher than in areas without a higher “minimum wage”.
Liberals are so ignorant of economic principles.
Why is Connecticut even a state? It’s no bigger than most counties in the U.S. Did Franklin lose a bet?
Although the states have the 10A-protected power to regulate minimum wage, Gov. Malloy seems oblivious to the following. The state Democratic ploy to win votes by raising minimum wage is going to be a drop in the bucket versus higher healthcare costs for many people as a consequence of the federal Democratic ploy to win votes with constitutionally indefensible federal Obamacare.
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