Sunday, June 29, 2014

Minimum Wage

There were 127,000 fewer working-age natives holding a job in the first quarter of 2014 than in 2000, while the number of immigrants with a job was 5.7 million above the 2000 level.

Because the native-born population grew significantly, but the number working actually fell, there were 17 million more working-age natives not working in the first quarter of 2014 than in 2000.

The Wages of Progressive Sin

You want wages to go up?

Stop importing labor... or allowing it to cross the border unimpeded

Progressives chasing their tails

The Massachusetts House passed a bill that will raise the state’s minimum wage to $11 an hour by 2017. The Senate already passed that wage level, and after a procedural vote there it will head to Gov. Deval Patrick (D), who is expected to sign it into law. 


The simple truth of it is that this cost is simply going to be passed along to consumers of goods and services, and offset by cutting employees.  The cost of living is going to go up and the value of a dollar is going to go down, those who are going to shoulder the greatest burden are the poor, whose purchases of goods and services represent a greater portion of their income than the middle class and wealthy.  The income gap will grow simply because this action won't lift people out of poverty, it will have the opposite effect as prices increase to offset decreasing profit margins.  In the end the wealthy will be wealthier and the poor poorer, do you think that those now making $12 will see a raise anytime soon?


What will their answer be?  To pass another wage increase.


The CBO examined the budget impacts of raising the minimum wage to $9 and $10.10. The report concluded that a $9 increase would lift 300,000 workers above the poverty line, but cost 100,000 new jobs as employers are expected to reduce workforces to make up for higher wages. A $10.10 increase would lift 900,000 workers above the poverty line, but cost 500,000 jobs.

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