"[T]here is unmitigated good news," proclaimed Ali Velshi about the minimum wage increase on the July 24 "American Morning." While the business reporter admitted "there are lots of sides to the story," he still called it "good news."
Back on January 2, Velshi stated that the current minimum wage of $5.15 an hour is "simply not fair." He had trouble with math in that "American Morning" appearance stating that the minimum wage comes out to $900 a week, when he likely meant $900 a month.
This time, Velshi was right with the math and left with his politics.
"The bottom line is you can't underpay people. And we've been underpaying people," said Velshi.
Velshi did concede that this could potentially harm small businesses, but failed to point out possible immediate impact of the minimum wage hike in his segment.
Marc Freedman of the U.S. Chamber of Commerce told USA Today, "the higher federal minimum wage could mean fewer hours for employees, fewer pay increases for other employees, benefits reductions, job losses and waning job creation."
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minimum wage not needed
July 24, 2007 - 18:07 ET by LionKingMy 17 year-old son got a summer job paying over $6 an hour working fast-food. If they are paying that much for starters, why is the minimum wage needed?
Why can't they just let market forces determine wages?
LK, In Albuquerque, both
July 24, 2007 - 18:47 ET by Chris NormanLK,
In Albuquerque, both McDonalds and Wendy's are advertising starting positions beginning at seven to eight dollars an hour. Perhaps they should lower the wage to reflect the new national wage...
The dogs bark, but the caravan moves on.
- Arabian Proverb
basic economics
July 24, 2007 - 18:56 ET by LionKingTo think...perhaps supply and demand are in operation in Albuquerque.
I bet it could work other
July 24, 2007 - 19:03 ET by Chris NormanI bet it could work other places to, if they would just try it. :)
The dogs bark, but the caravan moves on.
- Arabian Proverb
lion-- what a silly conservative you are---
July 24, 2007 - 20:54 ET by misterbilllion-- what a silly conservative you are---
the answer is simple---because---that's it! LOL
I do think it shows that the dems stopped thinking 20 years ago and are still pushing the issues from those days.
A patriot must always be ready to defend his country against his government.
Author:
The only good news in the minimum wage is for libs
July 24, 2007 - 18:19 ET by nkviking75The only real good news in this is for the libs, who got exactly one of their goals past the Congress.
When you put the clowns in charge, don't be surprised when a circus breaks out.
"Marc Freedman of the U.S.
July 24, 2007 - 18:36 ET by well99"Marc Freedman of the U.S. Chamber of Commerce told USA Today, "the higher federal minimum wage could mean fewer hours for employees, fewer pay increases for other employees, benefits reductions, job losses and waning job creation."
Cool if Marc believes that maybe he should take a cut in his pay.I will never understand this overwhelming need to keep wages down for the lower income people.I know hiring illegals is the prefer method of the US chamber of commerce.
How disingenuous of you!
July 24, 2007 - 18:43 ET by Chris NormanHow disingenuous of you! There is no one who wants to keep wages down for "lower income people". Do you mean teenagers? We just don't think government is the one to determine wage levels.
The dogs bark, but the caravan moves on.
- Arabian Proverb
That is bs.There are people
July 24, 2007 - 18:58 ET by well99That is bs.There are people and not "just teens"who make minimum wage.You do know that when processing plants shut down for a month that people will work day larbor and temp jobs.Alot pay minimum.
Spinning Signs
July 24, 2007 - 19:02 ET by botgstarts at $10 to $12 an hour
Supreme Court, National Security, Borders, Fiscal Restraint, my litmus test for President.
Ah. You live in the soup
July 24, 2007 - 19:07 ET by Chris NormanAh. Gotcha. You live in the men selling apples on the street - children hauling coal in the mines - America.
The dogs bark, but the caravan moves on.
- Arabian Proverb
liberal thinking...again
July 24, 2007 - 18:50 ET by LionKingYes...makes perfect sense. Let's have a government official take a pay cut and that will help subsidize private business with their payroll.
[btw, raising the minimum wage would only create more of a "black" market for illegal alien labor.]
All you elites are the
July 24, 2007 - 19:04 ET by well99All you elites are the same.Dem/Rep unless it is putting money in your pocket you could care less.NP and btw your wrong.It wouldnt create more "black" market for illegals.
Been waiting
July 24, 2007 - 19:09 ET by botgfor two months to get some apprentices out of the hall. They can't hire enough who have good work habits. Just the basics like show up for work on time, come to work on Monday, etc. Starts at $9 hour free training current scale is $35 hour plus medical plus retirement (after 5 year apprenticeship)
We need workers
Supreme Court, National Security, Borders, Fiscal Restraint, my litmus test for President.
Are you kidding?Around here
July 24, 2007 - 19:18 ET by well99Are you kidding?Around here if you pull 9. hr it is good.The problem is processing plants are down 3 months of the year for maintaince.Computer industy is going down the tube also.Micron will layoff alot of folks soon.
Straight up
July 24, 2007 - 19:27 ET by botgand we can't find people willing to work
one draw back though - drug screening
which for me is wonderful as i don't want some with a buzz anywhere near electrical
Supreme Court, National Security, Borders, Fiscal Restraint, my litmus test for President.
I think that is anywhere any
July 24, 2007 - 19:32 ET by well99I think that is anywhere any more.Yes it is good.Ever worked around blades.You better have your head straight.You'll only go down that flume once.
"Are you kidding?Around
July 24, 2007 - 19:47 ET by ckc1227"Are you kidding?Around here if you pull 9. hr it is good.The problem is
processing plants are down 3 months of the year for maintaince.Computer
industy is going down the tube also.Micron will layoff alot of folks
soon."
You do realize that our Constitution does not require anyone to work in a processing plant, or even in the computer industry, don't you?
No one is in poverty because of minimum wage, and raising minimum wage does not cure poverty. If that were the solution, we could solve Africa's(and our) poverty problem by simply mandating a $50 an hour minimum wage.
Economics is like gravity. The effects don't cease to exist simply because you choose to ignore them.
You do realize that our
July 24, 2007 - 20:43 ET by well99"You do realize that our Constitution does not require anyone to work in a processing plant, or even in the computer industry, don't you? " I heard that.
So by raiseing minumum wage will we be going into a recession?Will the market crash?
No raiseing minumum wage wont end poverty.But it wont change the economic structure of this country either.How many people are actually going to be affected by it.Many states have minumum wages higher than the Feds.
Yes I railed against poor Marc and the chamber of commerce.Bummer but these are the same folks that are for illegals and I could'nt care less about them.
"No raiseing minumum wage
July 24, 2007 - 22:29 ET by ckc1227"No raiseing minumum wage wont end poverty.But it wont change the
economic structure of this country either.How many people are actually
going to be affected by it."
Umm, okay, not sure how to respond to this one. Not because there is no response, but because it is such a contradiction that I wouldn't know where to begin. I guess the bottom line is you feel it should be done because it feels good. Who cares if it really helps anyone, or hurts anyone, or if it is even necessary to begin with.
However, those who WILL be affected the most are those with the least skills to offer who rely on these jobs the most. Do you really believe an employer is going to pay$7.00(closer to $9 when all is said and done) an hour to someone with the skill set to produce $5.00 an hour? Of course not, not if he wants to remain in business.
But let's ignore for a moment the 1,000 or so years of historical data on the effects of price controls(yes, minimum wage is a price control) and pretend that economics is nothing more than a fairy tale..or voodoo, if you prefer. What is it that makes you believe an employee is more entitled to an employer's money than the employer who put forth the time, effort and capital, and took all the risk necessary to create the job in the first place? Afterall, the job belongs to the EMPLOYER, not the EMPLOYEE.
Still, you're welcome to your opinion. And, since you believe so strongly in the ignoring of supply and demand, in the interest of fairness, I request that from now on, anytime you make a purchase, you don't pay the posted price, you pay extra.
The next time you buy a car, don't haggle with the seller to pay less than sticker price. Instead, insist on paying MORE than sticker. I mean, that's only fair, right? You expect an employer to pay out of his pocket more for a job position than it may be worth, I assume because you feel its the right thing to do. Therefore, you paying more would also be the right thing to do. Just think about all the extra employees that could be hired if only you insisted on paying an arbitrary amount above the posted price.
Who cares if your new car is only worth $20,000. I think you should volunteer to pay $25,000. Better yet, I think the government should MANDATE that you pay $25,000. It's the right thing to do.
You are right in that
July 24, 2007 - 21:07 ET by RESTLESS 1You are right in that raising the minimum wage does not cure poverty. All it really does is raise the poverty line. That is precisely why raising the min. wage to 50/hr wouldn't work.
"You are right in that
July 24, 2007 - 22:54 ET by ckc1227"You are right in that raising the minimum wage does not cure poverty.
All it really does is raise the poverty line. That is precisely why
raising the min. wage to 50/hr wouldn't work."
It is also why raising it to $7.25, or whatever it is, won't work. The effects of price controls and wage controls are well-documented throughout history. And frankly, the other poster's post stating that an increase in the minimum wage won't increase the market for illegal labor says about all that needs to be said about his grasp on the issue.
If you're over the age of 24 and still earning minimum wage in this country, you are a loser, most likely a loser who is waiting for the government to rescue him or her from the jaws of poverty,much like those Katrina victims who were waiting for the government to rescue them from rooftops, when all they had to do was take a little initiative and get out of town in the first place. If you(not you personally) don't like the minimum wage, set your own minimum wage. I guarantee you nurses aren't working for the federally mandated minimum wage.
And by the way, what is this obsession with earning minimum wage to begin with? Who the hell strives to earn minimum wage?
"I will never understand
July 24, 2007 - 19:00 ET by ckc1227"I will never understand this overwhelming need to keep wages down for the lower income people."
That's because you have no understanding of basic economics, and, apparently, very little grasp on reality if you believe it has anything to do with keeping wages down for low income people.
What does anything Marc said
July 24, 2007 - 19:11 ET by picofaradpjfWhat does anything Marc said have to do with keeping "wages down for the lower income people"? His statement is mere economic reality. Businesses don't have some magical money bag they can use to pay for things. The extra cost of a higher minimum wage is going to have to come from somewhere. That means either higher prices or, more likely, cutting costs. Since typically a business's largest cost is labor, that is the most likely cost cut, which will lead to fewer hours, fewer pay increases, and so on.
Minimum wage increases also
July 24, 2007 - 21:21 ET by halfacarafeMinimum wage increases also throw low income people into a higher tax bracket. That is why liberals love them. They are doing something for the poor (or they say they are) but actually it increases incoming taxes because most of the people working for minimum wage are single youth who have no deductions. The companies affected will have to increase profits or cut new hires. When the kid at the corner store now needs $.70 more either the employer raises prices, cuts help, or goes out of business. Could this new minimum wage be the reason the DOW dropped 200 today?
By the way, 1st job ever, $1.65 minimum wage temporary position. Three months later, $.25 increase. Two months later offered full position at $4.35. Biggest reason, show up on time everyday ready to work, don't wait until someone tells you what to do, just do what needs to be done then find something else to finish. Before going home ask the boss if there is anything else that needs to be done.