U.S. minimum wage hike a stimulus to economy: report

Interesting perspective from the liberal think tank. Too bad it immediately preceded the biggest economic collapse in recent memory -- kinda shoots down the entire thesis of the article... oops.

In other news, we've been losing 16,000 jobs a day since Barack Mugabe Obama's stimulus package was passed. I guess that has been similarly effective.


Sorry for that factual intervention. Continue.

 

^ Including yours.

I hear J.T. Marlin is hiring.

 

Did I miss something? Did Trader_Jorge lose his job? Whatever will happen to his self professed well manicured lawn?

 

It's a known secret on the board that the Trader was indeed a victim of the economic downturn. He will survive though.

 

I am really starting to believe this whole theory of man evolving from monkeys.

 

The_Conquistador is going through a very difficult time right now. My luscious gardens are in desperate need of fertilizing. I do not know if they will make it through the summer alive. The professionals who manage my well manicured lawn are no longer accepting checks drafted on my Stanford Financial account. My right boot continues to chafe away at my foot. My luxury SUV had to endure the bitter taste of non premium gasoline this week. The_Conquistador even had to suffer the indignity of stepping foot into a coach cabin on a commercial airplane.

These are tough times, friends, and we must all make sacrifices. The_Conquistador is a proud hombre, but will swallow his pride and accept monetary donations from the concerned among you. Pesos and Treasures gift cards are accepted forms of payment.


HUMILDAD

 

I've seen many small businesses that have been feeling the pressure of an increased minimum wage, and the final hike hasn't taken effect yet. Many have coped by laying off workers, and reducing employee's hours. Typically you just see this passed off through increased prices, but few can afford to raise prices in an economic downturn.

 

minimum wage laws contribute to unemployment for the least employable people like teenagers.

in other news, the sun came up this morning.

 

golf clap. that was hilarious.

 

Here, let me help

I personally think you need to pull yourself up by the bootstraps, though that might cause more chafing.

 

I always felt the minimum wage hike was too much too fast. I think 35 or 40 cents per year would have been better. I mean, you raise the minimum wage 40% over 2 years, its only natural that jobs will be lost AND prices for things that come from minimum wage jobs will go up.


Trouble is as wages rise for those at the bottom, the folks who are a little bit over the bottom are not seeing much if any at all of this. Be interesting to see how many jobs are cut around August from the minimum wage areas(fast food, retail stores).

 

I wish I knew how to quit you.

 

unfortunately, min wage hadn't been raised in a long time

 

So true. Which is why I said it was too much too fast. Lets say based on minimum wages from 1980, should it be around 7.65 today?? Probably so. Maybe even a bit higher. But making it jump that fast that quick was bound to cause some issues. I also hope that things will start to equal out once it takes place(employers have to pay their employees more, but there will also be more income from the bottom earners to give employers more money to pay employees)

 

but for the people making that wage it was long over due.

I would suspect minimum wage actually doesn't apply to that many people to make the claim its going to ruin small businesses. a few restaurants and retailers? the adults in these establishments probably were making more than the increase, which doesn't increase to 7.25 till next month from 5.85 two years ago from what $4.75. I guess $2.50 is a lot in two years, but i wonder how many workers it actually affected.

 

It was $5.15 and 2007 it went to $5.85, 2008 went to $6.55, and of course it will be $7.25. I've done the books for a few businesses. Minimum wages caught up with they pay of low level managers. Now do you pay them the same, or increase the pay of the manager. And you'll have to remember that a large number of small businesses depend on minimum wage workers, regardless of whether they are adults or teenagers.

 

3% of hourly wage earners, that's not including salaried workers

 

That extra $.70 will come in handy won't it?