|By Mahras (Mahras) on Friday, September 10, 2004 - 07:34 pm: Edit|
I just was on John Kerry's presidential website and I noticed that he had a entire summary report on raising the minimum wage in the USA. The report is found here: http://www.johnkerry.com/pdf/women_wage.pdf
So, Kerry is going to raise the minimum wage to 7 dollars...huh. Sounds like a noble idea and a very strong one at that because hey who in the world wouldnt want more money. By taking out all the utter BS thats in that report this is what I was left with:
"Min. Wage is the lowest level in years comparitively.....Min wage did not rise with inflation."
What I do not understand is this:
The employers are currently not even ABLE to afford the CURRENT min. wage WITH all the inflation etc. How in the world is Kerry even selling this plan that he will increase it to $7. First of all isn't it basic economical theory that raising the min. wage will result in HIGHER unemployment. If CURRENTLY employers are struggling to pay the current wage of $~5 then how in God's beautiful Earth are employers going to pay HIGHER wages ON TOP of the additional taxes Kerry will probably impose on businesses. I thought countering unemployment was one of Kerry's prime agendas? raising the min. wage may sound sweet to the millions of workers in the US without knowledge in this area byt in practice this is a surefire way to screw up the US economy.
Today CBS marketwatch.com website published an article on why tehre was a rally in the early months of 2004 but a downhill battle now. The answer is that during the early months of 2004 Bush's approval hovered in the 70s% while Howard Dean then the most likely candidate of the ticket was left with the scraps. Now however with Bush's declining probablity of getting the office back the market is treading through murky waters.
Of course each of the conclusions I reached can be argued for or against. This is part of the purpose as whats the use of posting views if they cannot be debated against. Hopefully this will account for some healthy debate.
-CC's Unofficial Bush and Kerry Hater
P.S. Before some overly smart alecky poster points out I wrote Bush before Kerry I have a response for that. Bush and Kerry is arranged in alphabetical order thus not denoting any party's preference. As a warning label on CC should say:
"One can never be sure what the hell some posters on CC will say"
|By Thinkingoutloud (Thinkingoutloud) on Saturday, September 11, 2004 - 12:07 am: Edit|
The only law politians can't erase is the law of supply and demand. If you raise the cost of labor, the quantity demanded decreases. In other words, more layoffs. If you are going to raise the minimum wage, why stop at a lousey seven bucks. How about $18 per hour? That's more like it.
If idiots like Sen. Kerry really wanted to raise people's wages, they would cut off the flow of illegal immigrants from Mexico. Without that cheap labor, hourly rates for numerous jobs would increase and possibly rise high enough to attract a lot of people away from the TV. Unfortunately, democrats think illegal immigrants will end up voting for them once amnesty is granted. Democrat power is more important than peoples' standard of living.
|By Ejpowers87 (Ejpowers87) on Saturday, September 11, 2004 - 12:55 am: Edit|
In my 5 months on CC, I have seen 12 articles on raising minimum wage. Get a new topic.
BTW, I agree with you on, but it gets old.
|By Valpal (Valpal) on Saturday, September 11, 2004 - 04:23 am: Edit|
It does seem axiomatic that a steep increase in the minimum wage would make the cost of doing business prohibitively more costly for companies both large and small in this increasingly competitive global marketplace (not to mention, making outsourcing an all the more logical solution). This would result in significant layoffs, and even higher unemployment. To top things off, the measure might well drive up the costs of goods and services, resulting in significant inflation, with the cost of living quickly rising commensurate to that of the new minimum wage, thereby canceling out any good the increase might otherwise have had.
The thing that's so vexing about the economy, is that it is an EXTREMELY complex machine. And no amount of simplistic political sniping and finger pointing from either side of the isle, will make solving our economic woes, either quick, simple, or painless.
But hey, I'm no economist. I didn't even stay at a Holiday Inn last night.
|By Mimi (Mimi) on Saturday, September 11, 2004 - 02:56 pm: Edit|
Our state's mim. wage is already over $7. I wonder how much more he will raise for us... hm..
|By Ariesathena (Ariesathena) on Saturday, September 11, 2004 - 03:24 pm: Edit|
|By Jekyllnhyde10 (Jekyllnhyde10) on Saturday, September 11, 2004 - 03:36 pm: Edit|
Yes, raising min wage sounds good, but you must think about the reprecussions. Raising min wage will make it harder for people to get off welfare, takes away jobs, and encourages high school students to drop out.
Estimates of job losses at the rising of minimum wage from $4.25 to $5.15 resulted in 625,000 to 100,000 job losses.
Gotta go I'll elaborate later
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