He's right though. Consider a person who isn't working at all right know because they aren't worth paying $7.25/hr. They are costing taxpayers upwards of $8,000 a year in entitlements. If that person is worth paying $5 an hour, they could get $10,400 a year in pay, would still pick up another $1,200 or so in entitlements, too, but they are saving the taxpayer $6,800 a year, multiply that by the 3 million or so who would be hired at that rate and you've saved the taxpayers $20-30 billion a year.
Secondly, the government passed the Fair Minimum Wage Act in 2007, we had the highest rate of inflation in over 20 years in 2008. The rate has gone up 3 times under that act and we're now seeing persistently high unemployment as a result, raising it again will only increase the number of people out of work and on public assistance.
Lastly, only 3% of workers are paid minimum wage, so it's not a big issue overall but organized labor (11% of the workforce) is pushing hard for the increase because most of their workers' rates are tied to minimum wage (ie your rate of pay is guaranteed to be the national minimum wage + $10/hr), so a raise in the minimum wage is pretty much an instant raise for unionized workers.
It's not a good idea.
.
I think that HUGE skill can be covered by machine.
http://www.techdirt.com/articles/20030801/1345236.shtml
If I don't have a McDonald's job to buy a McDonalds burger then who will have any money to still purchase a McDonalds burger? Does McDonalds accept food stamps?
What about a cleaning crew, McDonalds will still need a cleaning crew, right? Need somebody to empty the trash and put in a new trash bag. Need to keep the restrooms clean.
What about a cleaning crew, McDonalds will still need a cleaning crew, right? Need somebody to empty the trash and put in a new trash bag. Need to keep the restrooms clean.
I dont see how fast food workers get by in places like Chicago. I was there for 48 hours a month or so ago and spent $100 for parking. I would absolutely hate to live in that place. Huge city with cold temps. Why? No thanks. I live in a medium sized city; never pay for something like parking. Not only did I have to pay to park but it was like $20 a pop plus then you throw in some cab rides. It is just ridiculous. Oh and then you have the tolls. Good Lord.
I oppose it
1) minimum wage jobs are not intended to be jobs for people to support their families. They're mostly occupied by kids and maybe some needy adults. It will hurt those people most because there will be fewer jobs for them. Happens every time
2) the companies that pay minimum wages will have to increase prices, and it's the lower income families that frequent those establishments more than others do so that demographic gets bitch slapped again.
3) the increase benefits labor union workers more, although it's never ever told to us. Many, maybe most, union workers get automatic pay increases when minimum wages increase, which is really what certain politicians want to do, concealed kickbacks to union leaders who give their unequivocal support
4) will make other american companies less competitive in international markets than they already are as a result of number 3
5) it's sold to us as compassionate, which is complete bullshit, it's just politicians be politicians and being enabled to do so by their enablers who always have their backs. It's nothing about helping the poor and it's not about compassion. It's all about political favors and perception.
1) minimum wage jobs are not intended to be jobs for people to support their families. They're mostly occupied by kids and maybe some needy adults. It will hurt those people most because there will be fewer jobs for them. Happens every time
2) the companies that pay minimum wages will have to increase prices, and it's the lower income families that frequent those establishments more than others do so that demographic gets bitch slapped again.
3) the increase benefits labor union workers more, although it's never ever told to us. Many, maybe most, union workers get automatic pay increases when minimum wages increase, which is really what certain politicians want to do, concealed kickbacks to union leaders who give their unequivocal support
4) will make other american companies less competitive in international markets than they already are as a result of number 3
5) it's sold to us as compassionate, which is complete bullshit, it's just politicians be politicians and being enabled to do so by their enablers who always have their backs. It's nothing about helping the poor and it's not about compassion. It's all about political favors and perception.
[h=1]Swiss voters reject $25 minimum wage[/h]
They will stick with the current $0
http://money.cnn.com/2014/05/18/news/economy/switzerland-minimum-wage-vote/
What a backwater hell hole Switzerland is, huh?
They will stick with the current $0
http://money.cnn.com/2014/05/18/news/economy/switzerland-minimum-wage-vote/
What a backwater hell hole Switzerland is, huh?
A lot of people throw around the stat that only 3% make the minimum wage and while that may be true that stat is misleading since so many places pay a tick over minimum wage and are not included in the statistic, i mean making 20 cents more than minimum wage is still minimum wage to me. The fact is that 40% of people today make less than minimum wage workers did in 1968 ( adjusting for inflation)
