As N.J. prepares to hike minimum wage, experts still disagree on advantages
As N.J. prepares to hike minimum wage, experts still disagree on advantages (via NJ.com)
TRENTON — In two days, more than 250,000 workers making minimum wage in New Jersey will get a raise — but what that means for the state’s future depends on whom you ask. On Wednesday, nearly two months after voters approved it, the state’s minimum…
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Why don’t we just make it $25 per hour? After all, $25 is just as arbitrary as $14 and has no correlation whatsoever with the skill set and the ensuing economic value of the employee. ”
NO law can increase your worth to a company,” only YOU and your skill set does that; otherwise you destroy the underpinnings of basic economics.
http://www.rushlimbaugh.com/daily/2013/12/05/no_law_can_increase_your_worth_to_a_company
Besides, I bet those earning higher wages than the existing minimum wage (based on merit and skill) will NOT be happy once people go from the old minimum wage to the new one. I kinda think they will be robbed.
You see, only union workers will get raises because the prevailing wage is based off of the minimum wage. Non union shops will be hard pressed to increase EVERY workers wage proportionately.
And thus, you see the reason for the push to raise the minimum, as evidenced by unions paying protestors.
Another way to look at it is if minimum wage workers are paid a little bit more, they would have to rely a bit less on taxpayer funded public assistance (food stamps etc.) in order to feed themselves and their families. In a way, taxpayers are actually subsidizing the workforces of large companies who make billions of dollars but pay some of their employees a minimum wage that does not even get them above the poverty level.
How am I supposed to make a profit/stay in business/support my family with my lemonade stand, when the gov’t dictates I must pay my lemon-squeezer more value than she generates?
Solution: I fire her, and do it myself/recruit a family member to help.
Effect: She’s making (a whole lot) less than she was before.
Fact of Life: Central Planners (and those with nice fluffy ideas in their heads of ways to run an economy–ideas which are far removed from the realities of life) seldom get it right.
HOW DO THE CENTRAL PLANNERS GET TO DICTATE WHAT THE SMALL BUSINESS OWNER CAN AFFORD TO PAY IN LABOR COSTS ??
Huzpah? (sp?) Crystal ball? An over abundance of warm fuzzy feelings for those presently on the bottom rung of the employment ladder? Big/loud mouths and the megaphone of the MSM? A certain adeptness at plucking peoples’ heart strings……….
Can someone please channel Milton Friedman–? —- get the folks educated…..