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Author Topic: Economic Illiteracy In Obama’s $9 Minimum Wage Proposal  (Read 732 times)

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Offline CG6468

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Economic Illiteracy In Obama’s $9 Minimum Wage Proposal
« on: February 14, 2013, 04:06:06 PM »
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Economic Illiteracy In Obama’s $9 Minimum Wage Proposal

While watching President Obama’s State of the Union address, I got to thinking that maybe the source of Obama’s domestic policy has not been a place of malice, but of complete ignorance.
 
The moment of clarity came when he called for a raising of the minimum wage, saying, “Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in poverty, and raise the federal minimum wage to nine dollars an hour.”
 
Obama seemed to truly believe that this proposal would be beneficial. Why announce so publicly a policy that is almost universally regarded as being economically disastrous if he did not think it would help people? It’s not as if he made this proposal to someone in private and then that person leaked it to the press. No, he was proud of his idea.

[[snip]]

After proposing a $9 minimum wage, Obama added, “This single step would raise the incomes of millions of working families.”
 
Raising the minimum wage will make businesses do one of three things: (1) reduce the number of hours that the store is open in order to save money; (2) fire some employees in order to save money; (3) go out of business altogether for failing to do either (1) or (2).

This'll work REAL well...
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Offline 17 Oaks

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Re: Economic Illiteracy In Obama’s $9 Minimum Wage Proposal
« Reply #1 on: February 14, 2013, 05:50:05 PM »
Quote from: CG6468 on February 14, 2013, 04:06:06 PM
This'll work REAL well...
This is a step in govt wage control.  Congress just passed a bill called the Fair wage act or words to that effect.  What it says is that you must pay women the same you pay men for the same job.  Sounds good and I agree...HOWEVER there is a small issue.  HOW do you identify and categorize jobs by men and women that are EXACTLY the same.  Well having been enlisted and an officer in the Army, worked for and consulted to Fortune 1000 corps and worked for mom/pop companies.  Few places have jobs that are so standardized you can slot anyone equally.  About the only place you find it is in the military.

Look for Congress (DIMS) and Obama to push for job standardization for corps using the UNIONS as the model.

Welcome Central Planning by communists in DC...
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Offline docstew

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Re: Economic Illiteracy In Obama’s $9 Minimum Wage Proposal
« Reply #2 on: February 14, 2013, 07:20:44 PM »
Quote from: 17 Oaks on February 14, 2013, 05:50:05 PM
This is a step in govt wage control.  Congress just passed a bill called the Fair wage act or words to that effect.  What it says is that you must pay women the same you pay men for the same job.  Sounds good and I agree...HOWEVER there is a small issue.  HOW do you identify and categorize jobs by men and women that are EXACTLY the same.  Well having been enlisted and an officer in the Army, worked for and consulted to Fortune 1000 corps and worked for mom/pop companies.  Few places have jobs that are so standardized you can slot anyone equally.  About the only place you find it is in the military.

Look for Congress (DIMS) and Obama to push for job standardization for corps using the UNIONS as the model.

Welcome Central Planning by communists in DC...

What'll actually happen is that discussing compensation AT ALL will be a firing offense. Men won't get raises, women will.
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Offline rich_t

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Re: Economic Illiteracy In Obama’s $9 Minimum Wage Proposal
« Reply #3 on: February 14, 2013, 07:40:27 PM »
Illiteracy In Obama’s $9 Minimum Wage Proposal.  Couple that with Obamacare and companies will really start layoff and cutting hours of existing workers.

But hey...  According to Pelosi unemployment is good for the economy.
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"The American people will never knowingly adopt socialism. But, under the name of 'liberalism,' they will adopt every fragment of the socialist program, until one day America will be a socialist nation, without knowing how it happened." --Norman Thomas, 1944

Offline tac

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Re: Economic Illiteracy In Obama’s $9 Minimum Wage Proposal
« Reply #4 on: February 15, 2013, 08:20:24 AM »
Quote from: rich_t on February 14, 2013, 07:40:27 PM
Illiteracy In Obama’s $9 Minimum Wage Proposal.  Couple that with Obamacare and companies will really start layoff and cutting hours of existing workers.

But hey...  According to Pelosi unemployment is good for the economy.

Right! Put everyone on unemployment seems to be the administration's goal.  :mental:
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