The Following is a statement from a Daily Kos commentator discussing possible programs for the 2008 presidential campaign:
It's gotta start with a living wage. Raising the min wage to $7 isn't going to really help working people in theis country, especially since it'll be another 10 years before there's another hike. We gotta get it up to $10 (or $12.50 in areas with higher costs of living), so people only have to work one job to support themselves, let alone a family.
Sigh, if helping working families was only that simple... I would love that plan. Sadly our dear friend over at Daily Kos hasn't stopped to think about the economical ramifications behind such a proposal.
Simply:
The higher you raise the minimum wage the more unemployment you will produce. The more unemployment... the more poverty.
Think about it like this: If $10.00 per hour is good then $20.00 per hour would give Working Willy (our cute working class hero) even more flexibility and comfort. Then why not $50.00 or $100.00? Wow, then Working Willy would be living high off the hog!
But if the minimum wage was say $100.00 how could Wendy's afford to hire poor Working Willy? The answer is of course Wendy's could not (not if that fine corporation wanted to keep around that 99 cents menu!). That's because Working Willy would have to be paid perhaps $800.00 a day! That is a lot of Chicken Nuggets that would have to be sold to hungry fraternity boys to turn a profit!
Increasing the minimum wage would not decrease proverty. It just goes against the laws of economics.
Hell, you might as well repeal the law of gravity when you are at it (hey, who wouldn't want to fly?).
It's gotta start with a living wage. Raising the min wage to $7 isn't going to really help working people in theis country, especially since it'll be another 10 years before there's another hike. We gotta get it up to $10 (or $12.50 in areas with higher costs of living), so people only have to work one job to support themselves, let alone a family.
Sigh, if helping working families was only that simple... I would love that plan. Sadly our dear friend over at Daily Kos hasn't stopped to think about the economical ramifications behind such a proposal.
Simply:
The higher you raise the minimum wage the more unemployment you will produce. The more unemployment... the more poverty.
Think about it like this: If $10.00 per hour is good then $20.00 per hour would give Working Willy (our cute working class hero) even more flexibility and comfort. Then why not $50.00 or $100.00? Wow, then Working Willy would be living high off the hog!
But if the minimum wage was say $100.00 how could Wendy's afford to hire poor Working Willy? The answer is of course Wendy's could not (not if that fine corporation wanted to keep around that 99 cents menu!). That's because Working Willy would have to be paid perhaps $800.00 a day! That is a lot of Chicken Nuggets that would have to be sold to hungry fraternity boys to turn a profit!
Increasing the minimum wage would not decrease proverty. It just goes against the laws of economics.
Hell, you might as well repeal the law of gravity when you are at it (hey, who wouldn't want to fly?).
posted by AShiningCity at 1:30 PM
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