I’m just going to key in on one of your comments, since I don’t have the desire to discuss the rest. Raising the minimum wage will have no positive effect on demand or supply, and it will only cost jobs. It’s basic economy principles, especially in a job market as soft as this one. And it will only spur inflation. It will not have the positive effects that liberals seem to think it will.An independent firm has indicated raising the minimum wage to $15/hour will cost my state 90,000 jobs. You will also see businesses switch to more automation. And what about those who make $16/hour now? How are you going to help them? They switch from being paid more because they have more tenure, more skills, and spent time developing their careers to now being paid only slightly more than a high school student with no work experience and no marketable skills. You talk about fair? That SCREWS the person who had spent the last 5-7 years of their adult careers working to make that wage, only to have it flushed down the toilet because of some pear-shaped sense of social justice.And people always argue about how minimum wage has fallen behind the growth curve of inflation. Those people are wrong. You can go here if you don’t believe me. You plug in 25 cents (which was minimum wage in 1913 when it was first created, and bring that to 2014, that inflation brings it to $6.01 in current spending power. Google has it as $4.13, but the BLS says otherwise. We provide over a dollar more an hour than inflation has grown… a 20.6% difference. All this noise about how the bottom rung of the economic ladder needs so much help, but no one ever bothers to look at the impact it will have on middle class people. The reason no one is spending in the middle class is because we are afraid of what is going to happen next. What are taxes going to do? What’s going to happen with our job? How much is health insurance going to cost us (because we don’t qualify for Obamacare Subsidies)? How much do we have to save to provide college for our kids? Braces? Kids’ doctor bills? A lot of these things aren’t a concern of those earning minimum wage, mostly because they aren’t at that stage in their lives! What we should be doing, instead of artificially lifting the minimum wage, is find out why there aren’t more MIDDLE CLASS jobs. If you provide upward mobility for workers, you will see wages improve all on their own.
May 31, 2016
May 24, 2016