‘Liberal’ Washington Post: $15/hour minimum wage will put people out of work, hurt poorest people

“We don’t understand basic economics!!!! Fight for 15!!!!”

Well, you don’t say…

Hey, if you still want to blow up your community (and hurt poor people especially) with a $15/hour minimum wage you go right ahead. But when things head inevitably south, and likely quickly, just remember that you were warned multiple times. This time even by The Washington Post.

(From The Washington Post)

According to the 146-page report by Philadelphia-based consulting group PFM,

Read More

Gov. Brown Admits $15 Minimum Wage Does Not Make Economic Sense, Approves It Anyway

Why make economic sense when there is political advantage to be had?

This is pretty much the mantra of the statist politician.

The key thing to remember with increases to the minimum wage is that just because the government says that a job is now worth $15/hour doesn’t mean that it is. A job has a wage level which is economically sustainable. If that wage is not $15/hour it’s not worth $15/hour. However a government mandate can ensure that a job is PAID $15/hour.

Read More

San Francisco minimum wage increased 14% and local Chipotles just raised prices by 10-14%?

I personally am a big fan of Chipotle. And there ain’t no such thing as a free burrito bowl.

This is how it works folks. Nothing is free. Everything has a cost. Just because the government says that a price (in this case wages) will be be X doesn’t mean that the real price of a good or service is actually X. The REAL price is X minus the government mandated price increase.

Read More

McDonald’s & The Minimum Wage (Video)

As we’ve said before, raise the minimum wage above what the real wage should be for an unskilled worker and one is just creating havoc in the economy. Margins are closed or erased. Stores close. Prices go up. Jobs are lost. And the tax base is often diminished. (Creating a heavier burden on the remaining businesses.)

It is true that one can not live on the minimum wage. But no skill or low skill jobs are stepping stones to higher wages.

Read More

LA unions push for $15/hr minimum wage, But not for themselves, they say they should be able to pay employees less

Yes, this may be true. But isn’t that more of a YOU issue?

The minimum wage debate is a bizarre one. Anyone who understands the simple concept of supply and demand can see why arbitrarily raising the minimum wage above the real wage rate for unskilled workers is a boneheaded idea. Raise the cost of labor and jobs will diminish, margins will be cut, tax bases will be reduced.

But a $15/hour wage sounds good to people who seriously DON’T understand supply and demand.

Read More

Connecticut’s tax on hiring low skilled workers

If you are an employer with over 500 employees in Connecticut and you hire someone for less than $15/hr you must now pay a tax of one dollar for each hour your employee works.

It’s a shakedown from the state wrapped in the banner of “wage justice.” It’s a revenue stream for government and another barrier to employment for low skilled workers.

Just another reason people and business continue to leave the Northeast.

Read More

Owner of pizza shop says new Seattle minimum wage law is forcing her to close

The simple fact is that a minimum wage which is completely divorced from the natural wage rate will cause havoc all through the economy. People will lose hours and jobs. Businesses will go out of business. People will leave for lack of jobs. Lives will be disrupted.

I wish this wasn’t the case. But it is.

Read More

Prison labor company features promo video touting “BEST-KEPT SECRET IN OUTSOURCING”

A growing workforce.

Get this, the company is called UNICOR. Didn’t the scientist in Terminator 2 work for that company? Or maybe it’s the company in Robocop. Whatever. If you want your call center needs met at “offshore prices” time to team up with the prison workforce experts.

These people work for below minimum wage, and likely below the natural wage rate too, because they are locked up in prison. The taxpayers pay to house these folks,

Read More

Big government apologist: Why even fight crony capitalism?

Regular readers of ACC are aware of the current battle surrounding the reauthorization of the Export-Import Bank of the United States. We believe, along with many others, that Ex-Im is great example of crony capitalism which should be euthanized by a Congress which professes to be for free markets and small government. Whether this will actually happen is an open question however as the bank serves some of the heaviest hitters in corporate America, Boeing chief among them.

Read More

Raise the Minimum Wage, or Lower the Cost of Living?

By Ed Ring

 

Increases to the minimum wage in California are moving closer to reality. As reported on March 30th by MyNewsLA.com, “Los Angeles County Supervisors Sheila Kuehl and Hilda Solis will ask their colleagues to approve spending up to $95,000 to have the Los Angeles Economic Development Corporation review a series of studies of the issue performed in relation to the city of Los Angeles’ proposal to raise the minimum wage to $13.25 an hour by 2017 and to $15.25 an hour by 2019.”

California’s minimum wage is currently $9.00 per hour.

Read More

“The rising tide has lifted fewer boats during the Obama years – and the ones it’s lifted have been mostly yachts.”

That’s a crony system for you. The banks (and the bankers) with access to the Federal Reserve, which are now officially “too big to fail” and so enjoy an explicit license for moral hazard have only gotten richer. We the people “recapitalized” the banks. We indemnified them. We made them whole even though most of the big banks had leveraged themselves out to stupid levels and so deserved to go down. But the banks had the connections and so they now sit fat and happy.

Read More

You want $14.00/hour for unskilled work? OK, please meet your replacement. (Picture)

The SEIU and other unions want very much to turn fast food workers into a unionized force. The Dems want desperately to turn fast food workers into unionized voters. The “minimum wage debate” centers around giving unsophisticated potential voters something to motivate them to the voting booth.

The problem is an increase in the minimum wage will only hasten the destruction of low skill jobs.

Read More