Is it Time to Lower the Minimum Wage?
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On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss Japan, iPad2 sales, and the minimum wage.
We’re brought to you as always by BigGovernment and Stephen Clouse and Associates. If you’d like to email us, you can do so at coffee[at]newledger.com. We hope you enjoy the show.
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31 Comments
Many people believe that the minimum wage has done more to contribute to minority and particularly youth unemployment numbers being as elevated as they are than the current economy warrants. If an employer recognizes that he or she cannot afford ten workers at minimum wage and remain profitable, then only some number less than 10 will be fortunate enough to get a job. It is particularly young people and minorities that have no marketable skills that would allow them to take a higher paying job that suffer from this. And as always, liberal's actions result in direct opposition to their stated goals.
I just heard from our overlords in China that this will not be permitted. In fact, they demand that we double the minimum wage. Something about it creating more jobs, although they wouldn't tell me where.
but not their real goals.
I am John Galt.
I don't know how long a piece of string is, but watching the Obama Regime, is like watching an infant push a string. They haven't figured out yet, that they are on the wrong end of it…………
It's time to remove illegal aliens from the workers in America, then remove the minimum wage and allow the market to determine the cost of an employee….. my guess is that the wage will increase for most.
YES!
Cut it by at least 50%, it was always intended as a "training wage" but liberals have warped it into a "standard of living" to spread the misery over greater sectors of the population.
Leftist loons have always preferred "mediocrity" over "merit".
No it isn't time to lower the minimum wage!
It is time to eliminate it entirely. It is not within government's enumerated powers to command to private businesses what they must pay their employees.
You can always count on righties to do the bidding of their corporate masters.
By that standard, you can always count on the lefties to do the bidding of their union thugs. Correct?
If that means fighting for a competitive wage and good work conditions then yes, you can expect people on the left to support unions.
And what does that really have to do with looking to cut minimum wage to 3.15 an hour? Unless you live in Bangladesh that's not a wage that would even pay for your transportation to work. The only people a minumum wage cut would benefit are employers.
Good morning John…
A lot of people forget that the minimum wage is a basis for unions to negotiate wages for their own members. The higher the minimum, the "stronger" their "argument" is…
It's an admitted Anarcho Soc Puppet, ignore it.
I am John Galt as well.
Shouldnt competitive wages be left to those who earn it, instead of the unions just demanding it. The only way minimum wage should ever increase is by the natural rate of inflation and nothing more. If an entry level employee wants more pay at that level, they just have to work more hours. Afterall, most work conditions are good, and employees are paid what they are worth.
The unions though, especially the public sector unions dont give a damn about the workers or the taxpayers. All the unions want are all the dues and political power. The union members are just pawns to their union bosses.
Here is something I can tell you clearly never thought about either. But by cutting minimum wage, employers can hire more employees, and that can grow productivity and when the business grows its good for everybody and those employees who do good can get raises and/or promotions to.
There should be NO minimum wadge law in the first place, it only messes with the free market.
You tell me? I was responding to your dumb comment re corporate masters. (As if lefties don't have their own corporate masters – really – get real)! As far as the minimum wage issue I have no problem, but once you understand the consequences as it relates to economics – obviously cost of services will go up and employment will go down. It's a simple function of a free-market economy. You're welcome for the free lesson.
Zero dollars would be a good start. The minimum wage is just one more transfer payment from those who do to those who don't.
It's parallel to equal outcome in schools.
It's like dumbing down pollice tests to the dumb can become policemen, as Obama has just done.
This is all part of the pervert progressive Marxist theory that those who do not want to work are equally deserving of the same salary as our Emir.
Minimum wage hurts the poor. It doesn't help them. If you believe in it so much then why not a $50k a year min wage.
Min wage cuts off the bottom rungs of the ladder. An employer, instead of hiring 2 people at lower wage may not be able to hire one person and min wage. And there is work out there NOT worth min wage.
Making it too expensive for employers to hire means less people get work and less growth occurs. It should be easy to transition up and down the employment ladder at the bottom rungs. Instead min wage makes staying on welfare more appealing and the only option.
Get rid of min wage. It cuts off the bottom rungs of the employment ladder and makes it difficult for the poor to obtain any work.
Please stop with the hyperbole. Alinsky #4 does not work on you so why should anyone care about your judgments?
Yes it is time. It is time to ditch Unions. Let's start over and see if we really need any of it in 2011.
I'm curious. What job do you feel should be offered for less than minimum wage?
No. It's already pretty low compared to levels over the past 50 years when adjusted for inflation.
http://lifeinc.today.com/_news/2010/11/19/5495013...
Is it Time to Lower the Minimum Wage?
Short answer—yes.
This guy needs some of your guidance on Rand, Galt.
http://intensedebate.com/people/AnarchoSoc
Abolish the minimum wage maybe. I don't think there's going to be much reason to lower it the way the fed is printing up money.
Seems the idiot read "On Living Death" from "The Voice of Reason" and is now a one-trick troll. Not my style, and the "guidance" would lead nowhere. I differ from Rand on the personal level on a few issues.
The essay this idiot seems to have swallowed is a scathing (and fair) critique of this:
http://www.papalencyclicals.net/Paul06/p6humana.h...
This one is also "interesting":
http://www.papalencyclicals.net/Paul06/p6humana.h...
A sad statement against the rights of the individual. Socialism cloaked in religious "duty" in the second one…
I have read most of both, and they are quite horrifying if one clearly understands the implications of what is written, IMO …One of the reasons I accept God but reject religion as such… Men are in charge of religion, and as with any position of power it is highly likely that the unscrupulous or questionable of character will scale the heights… Not always the case – I don't pay much attention, but Benedict seems decent enough, and seeing JPII when he came to Chi-town was a highlight of my younger years that I will always treasure – he was an incredible human being…
Another reason I don't embrace religion? I suspect you know what a "Cafeteria Catholic" is? Too many people lack the seriousness to be disciplined in their "chosen" (not birth?) "faith", while others are unthinking zealots. Me? I think the diversity and complexity of life on this planet is far too great to have "random chance" explain it. Even if it was simple I wouldn't accept "random chance" – there is purpose, and thus "intelligent design" behind it… Too much to get into here, but I believe in God through a process of reasoned observation… Ever wonder about the relative differences of Venus and Mars – and how we happen to be sandwiched between two such wildly different planets? One a desert, the other a "greenhouse"? And then lil' ole us jes' right there perfectly positioned between them?
I ain't much for "God's Will" either… Beck was spouting some crap like that this morning and I shut it off immediately. IMO "God's Will" put us here in this place and He(?) gave us the greatest gift any form of life could ever receive: Consciousness, reason and volition… All else that is good flows from that… and evil too, but why look on the negative side…
Alright… enough of your time taken by me… Thanks for the link to d-bag, it was somewhat interesting if nothing else… Pick "it" to pieces as you will…
Dang! First Cowboy and now you? Me? I am jes' lil' ole GaltFAN…
From "Five to One" by "The Doors":
The old get old, and the young get stronger.
May take a week, and it may take longer.
They got the guns, but we got the numbers.
Gonna win yeah, we're taking over.
Nonsense for sure, but I'll take the guns no matter how "old" I get…
I wonder how many of the agitators in Madison have idiotic and simplistic BS like this seared into their tiny brains…
"It" is a sock puppet formerly known as JayDandy and MC5, you've probably seen it around before.
True that. The building inflation from the money-printing will reduce purchasing power as well as any wage reduction (same thing, in the end).
Jay Dandy to the resc–eewwww.
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