"The_Carpathia" <writingken@[EMAIL PROTECTED]
> wrote in message
news:261ccb87-a031-406e-a67c-60579796cd3a@[EMAIL PROTECTED]
Jul 24, 6:49 am, The_Carpathia <writing...@[EMAIL PROTECTED]
> wrote:
> 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
The irony (and entertainment) is watching Democrats claim there was no
impact from the last minimum wage increase upon the economy, while
claiming the economy is so bad that we need a change in government.
Kenneth Clifton
christiansuperhero.com
The humor in this statement is you trying to conflate an inconsequential
increase in salaries at the bottom of he labor pool with the hundreds of
billions in losses in the banking industry and manufacturers that do not
pay
minimum wage.
Oh, BTW, you did realize that 23 states comprising more than half the
population of the US, have state mandated minimums _above _ the new
federal
standard, so more than half the country is unaffected by the change?
Larry
|
