"The_Carpathia" <writingken@[EMAIL PROTECTED]
> wrote in message
news:f7222fef-a6c9-41c1-a499-c10bd0577835@[EMAIL PROTECTED]
> According to the news stories that are out today, the min wage hike
> that happens tomorrow (the 2nd of 3 such hikes) is going to have a
> dangerous impact on the economy. When they first passed the bill and
> raised it the first time, many of us warned about the impact when
> businesses (with fixed human resources budget) would have to lay off
> workers or raise prices to keep businesses in the black. Others
> protested that would be the outcome. However, look around.
> Unemployment is going up, and prices are rising, as well.
>
> So, the press isn't even hiding this impact, this time. This
> Associated Press article...
> http://www.foxnews.com/story/0,2933,390022,00.html
>
> ...has quotes from business owners that say they will be raising their
> prices to adjust for the increased required minimum wage (saying there
> is no room to do otherwise to make a profit). They admit that this
> increase will also result in increased food costs, since agriculture
> workers will have to be paid more. Basically, every industry that
> includes minimum wage workers will be faced with increased costs in an
> economy already hit hard by fuel costs and Democrat refusals to
> drill. So, there will have to be increased income to the industry or
> layoffs. It's basic economics. While downplaying the risk in this AP
> article (which traditionally sides with Democrats), they admit the
> risk of a wage-price spiral sending inflation soaring (they even
> provide evidence of it happening, now, in their article...both the
> demand for higher wage and the increased costs).
>
> The impact of this wage increase won't be felt until later this year
> (about election time...Democrat planned); however, the third wage
> increase happens next year in the term of the next President (watch
> for Democrat talk about suspending that increase, after winning the
> election). So, the next President will have to pay more for Social
> Security and Medicare and Medicaid to make it work, will have to pay
> more for education (hit with higher gas prices and increased min wage
> to some employees), pay more for healthcare, etc. However, if they
> fix it by increasing taxes upon workers and companies (cor****ate
> taxes), it is going to spell more lost jobs (taxes on companies), more
> higher prices (from higher HR costs), and less money for the workers
> to spend (due to increased sales and individual taxes). Looks like
> Democrats dug their own grave and ensured a Republican victory, after
> a failed administration in fixing these problems.
>
> Kenneth Clifton
> christiansuperhero.com
Business whines about every minimum wage hike, going back for decades.
Yet there is no evidence whatsoever that any minimum wage hike has hurt
the
economy.
In fact, putting more money ion the hands of consumers, exactly what
everyone wanted with he recent stimulus package, does have a beneficial
impact.
So why do these people object to people earning a living wage?
According to census bureau figures, more and more adults and heads of
families are earning minimum wage. Minimum is no longer reserved for
teenagers and part timers.
It is the height of greed an selfishness to demand more, cheaper stuff on
the backs of others.
Larry
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