Recession? Raise the Minimum Wage to Make it More Interesting!
July 24th 2008 19:33
So we're hearing about the recession that the libs/dems think we're going into. Some folks say we should turn everything over to the government so they can fix it. Some say we should raise the interest rates to fix things. But the crowning glory of foolishness is raising the minimum wage again. Oh year, it'll look great on paper and make a few people feel like they've "done something for the little guy." Actually it'll bring a whole new set of problems for the "little guy" to deal with and government won't be there to fix this one.
I keep pointing this out, and other far better qualified people than I am keep saying it as well. Raising the minimum wage doesn't actually help anyone! O.K. maybe a few kids at their summer jobs, in their entry level positions, will be tickled with the extra .70 cents an hour. But as a substantial improvement for the rest of us, NO! The prices for goods and services will go up to support the increased minimum wage as they always do, the gas and heating fuel prices won't come down because somebody gets the little boost in their income.
Whatever the expected benefits of the minimum wage increase, they will be erased by the higher prices before the recipients of the extra .70cents an hour can yell, "Whooopppeee!"
Really Long Link
I keep pointing this out, and other far better qualified people than I am keep saying it as well. Raising the minimum wage doesn't actually help anyone! O.K. maybe a few kids at their summer jobs, in their entry level positions, will be tickled with the extra .70 cents an hour. But as a substantial improvement for the rest of us, NO! The prices for goods and services will go up to support the increased minimum wage as they always do, the gas and heating fuel prices won't come down because somebody gets the little boost in their income.
Whatever the expected benefits of the minimum wage increase, they will be erased by the higher prices before the recipients of the extra .70cents an hour can yell, "Whooopppeee!"
Really Long Link
| 51 |
| Vote |
Shared on
Subscribe to this blog
Comment by katyzzz
Photography Tips
Health Focus
Poetry Lighthouse
MS Paint Art
Humanity has to come into play somewhere along the line.
Help those at home is just as important, if not more so, than helping those overseas, whose crooked leaders often misappropriate the funds allotted.
Comment by S.L.
The Political Brief
Suppose you have a small store and have five employees. They all make minimum wage because they all are students who get their spending money from the job you provide. You have as many employees as you can afford and still keep your stock on hand, pay your utilities, etc. Now, somebody tells you that you have to pay .70 cents an hour more to each of them but you can't afford it. What do you do? Do you fire one of them and do their work yourself? Do you cut them all back to cover the extra pay you have to come up with? They won't benefit from the increase if you do, but you can stay in business. Or do you raise your prices to pay for the wage increase and have your customers complain about how "greedy" you are? The principle is the same Katyzzz, whether it's a small business or a big one.
Comment by Lester Caudill
Round Politics
Comment by S.L.
The Political Brief
Comment by Jen
Job Champion
Money Baffle
Comment by S.L.
The Political Brief
Comment by Jonathan Biviano
Politics Realm
Democrats seem incapable of doing anything real, bad or good, so they have to keep doing these changes that look good on paper but have negative or no effect.