Basic economics escapes the democrats again. CBO report estimates that the President's plan to raise the minimum wage to $10.10 per hour could cost 550,000 jobs. The Link
...but those with jobs will at least be making a living wage, oh wait no they won't. At $10.10 an hour I don't think you are raising a family.
what really escapes me is this. If you look at the percentage of age groups who actually hold minimum wage jobs, a HUGE bulk are people under the age of 24. These are not the breadwinners in a family. these are kids just trying to make extra cash.
I have read it takes between $12 and $15 per hour to achieve lower middle class status. I don't think $10.10 is enough for a breadwinner, they would still be in the poverty class. But the minimum wage should be raised, it hasn't increased in quite a few years, and hasn't kept pace with inflation. Nobody should have to work for $7 or $8 per hour. These jobs are not just kids making extra bucks after school to buy mag wheels for their Mustang. A lot of people work full time for these low wages.
why is it the government's job to make sure people are above the poverty line? do we place no accountability on the people themselves to improve their own lives?
accurate can you provide a link that shows how many adults are working full time at minimum wage? Other important considerations are how soon people who stay at the same place and actually show up for work get raises . Most places give raises somewhere in the 3-6 month range of an employee proving dependability. If someone has been reliably at the same place for a year There is almost no way they would still be making minimum wage. There could be really small businesses that only give raises once a year BUT if the worker is good and dependable that worker can get a better job elsewhere Bayer is 100% correct. a large majority, a HUGE majority of people have the ability in their own hands to improve their wage.
Is it really the job of the government to think about the consequences, intended or not, that come due to the laws or Executive Orders it enacts?
Ultimately, I am against minimum wage laws in general. Its up to people to make sure that they acquire skills that make them competitive in the job market or work more hours. The silver lining is that a $10 min wage would probably attract some people sitting on the couch back into the workforce. It would also reduce the amount of government benefits that people are receiving. Its intuitive that forcing higher wages will result in higher unemployment but I dont think that it has happened in the past (could be wrong). I think employers generally hire as few low level employees as they can get away with. They would still need the employees even if the wages were higher.
is there a study on how much companies would have to rause the people already making $10.00 because they have proven themselves and earned raises? and if they get raised to say $11.00 then how much would the people already getting $11.00 want ? etc etc We should stop and really look at the issue How many adults are there only making minimum wage who have been at the same job for a year? WHY are there any adults making only minimum wage IF they have been at the same job for more than a year?
Wow, theiioftx, now that I have read the study, I see that you highlighted the one negative effect of raising the minimum wage, where all the other effects are positive, and for many more people. That's typical selective bias, I suppose. In the overall picture, the benefits outweigh the negative effects. I like to see the big picture, the benefit to the most people.
Interesting. So are you in favor of losing your job as long as others, mostly teenagers, get a big raise?
In reply to: Basic economics escapes the democrats again. CBO report estimates that the President's plan to raise the minimum wage to $10.10 per hour could cost 550,000 jobs. In reply to: Guess we will just have to wait a little longer for that cheeseburger at the drive thru As long as we can still afford it.
You might want to check your tax calculations and tax advice. For people who own businesses, especially in multiple states, taxes come in many shapes and forms - especially in today's environment.
It is astounding how basic tenets of economics escape liberals even liberals who have degrees in economics. Ask yourself if raising it to $10 is good then why not raise it to $12 or $20 or even higher? Why only $10? This is all about political power and payoffs not about poverty.
It is also interesting to actually look at who actually makes minimum wage. www.pewresearch.org/fact-tank/2013/07/19/who-makes-minimum-wage/ Over half minimum wage earners are young and 64% of the total are part time workers. Furthermore, over half of the total workers are in hospitality and leisure which means they likely supplement their income with tips.
UTChe96 Thank you for finding that and posting it. of course the facts will not fit Dems or BO's agenda especially the second fact '◾Disproportionately young: 50.6% are ages 16 to 24; 24% are teenagers (ages 16 to 19). ◾Mostly (78%) white; fully half are white women. ◾Largely part-time workers (64% of the total). The only other stat I would like to see is how many workers remain at minimum wage in the same job for more than 6-9 months. Once again, like with obamacare Dems' libs seem willing to wreck a system and create severe unintended consequences to perhaps benefit a small % Well I amend the unintended consequence remark. some of the most harmful consequences might be intentional