Minimum Wage And Stupidity Increase

Those brilliant folks in our Federal Government have done it again. The Feds have raised minimum wage to $7.25 per hour. This measure that is supposed to elevate those that are making a lower wage will do just the opposite. The higher the minimum wage the bigger the increase in the Cost of Goods in this country. This higher cost negates any gain recognized by those making minimum wage. Also, minimum wage is for an entry level position. These are non-skilled positions for teens and people without educations.

It all seems so simple someone like me can figure it out, but those goons in Washington cannot get it. I know that the politicians are just doing it to get votes from the liberals, but I am tired of paying for their stupidity. There are plenty of opportunities for people to get a free education if they will just get off of their lazy butts and go to class. As a minority in this country you have so many grants and scholarships available that there should be no complaints from this sector. I have a hard time feeling sorry for anyone when they refuse to take advantage of opportunities presented.

Austin

Caitlin

July 24th, 2009 at 10:08 am

The rise in minimum wage comes at an interesting time. Not only could it increase the cost of goods, but many employees may find themselves jobless. Or, worse, small businesses may go out of business with rising prices and higher pay for employees. http://www.newsy.com/videos/the_cost_of_minimum_wage_hike

July 24th, 2009 at 11:52 am

I’m hearing a lot of maybe’s out of all of this, most of it is just regular fear being played out. I think its best to just wait and see what happens… but hey, I do think the minimum wage should’ve been increased a long time ago, but hey… better late than never. Maybe from now on companies will be a lot more cautious about what they spend their money on, instead of shelling out huge bonuses to CEO’s.

BCR

July 24th, 2009 at 8:12 pm

DB, as usual you are demonstrating that you have a weak mind.

Companies have a margin they must make to stay in business. When labor costs increase, they have to increase their prices to stay in business. However, in many cases the extra cost is absorbed by reducing the labor force to minimize the additional cost passed onto customers.

Do a little googling. You’ll find many a study which demonstrate that two things happen when the minimum wage goes up. Increased prices and increased unemployment in the sectors that hire employees at that rate.