Congresswoman from California was quoted today as saying she would support a state minimum wage of $26 an hour. My question is, “why not $126?”
If businesses can't survive with the local minimum wage, they will move out. In my opinion, the market will decide what is the correct "minimum wage."
I don't like a federal minimum wage because businesses have no place to run to, and also union contracts are tied to the federal minimum wage law. The federal minimum wage is more a political issue than an economic issue.
The minimum wage itself is utterly immoral and totally contrary to Biblical principles. It was the invention of perhaps one of the five truly most evil women of the 20th Century, Frances Perkins.
Teh democrats don’t actually want a higher minimum wage; they just want a political issue from pretending to want it. If they actually wanted a higher minimum wage, they would have passed it in the first two Obama years, when they had House, Senate, and our White House. They are hoping we will stop then, just like the little yapping dog on a least pretending it wants to fight a Doberman.
If the GOP-e passes amnesty, this will be a huge issue for the Democrats. The Chamber of Commerce may be salivating at the idea of flooding the labor markets and driving down wages, but ordinary Americans will demand government “do something”. The threat of fewer entry level jobs won’t matter if all those jobs are taken by immigrants anyway. The Democrats will be there with “solutions”, and what will the GOP-e have to offer?
Sadly, many employers will tell you that there are lots of workers who are not worth the current minimum wage. Most employers will gladly pay more than minimum wage for workers who provide real value to their business. Employers should be free to set their wages based on the labor market and the value of the employees.
Adjusted for inflation, the minimum wage is 40% lower today than in 1975. It that a good thing? Not sure. Either the minimum wage was to high in 1975 or it was correct then making today’s minimum wage too low.