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President Obama set the chattering classes abuzz after his unilateral announcement to raise the minimum wage for newly hired Federal contract workers. During his State of the Union address, he sang the praises for his action, saying that “It’s good for the economy; it’s good for America.”[1] Yet this conclusion doesn’t pass the economic smell test; just look at the data from Europe.
Look at that spike , hmm maybe because that unemployment has to do with the economical crisis that AMERICA has been in , the silent depression i like to call it. Majority of the layoffs werent min wage workers. Get a clue
LOL..the DOL sets min wage for federal contractors and it varies by state.
I looked up Mississippi, the poorest state in the nation and found this:
A cafeteria worker in Mississippi on federal contract today gets over $12/hour($9/hr + $3/hr health and welfare), 2 week paid vacation, 10 paid holidays.
Anyone who bothers to look into the details of this will see that this EO is meaningless.
But Obama can't raise the min wage for private sector workers. Only Congress can do that.
So he does what he can which is raise the wages of people already making more than what he says.
The purpose being to strong arm Congress into doing the same.
The devil is always in the details but few bother looking.
It's foolish to raise minimum wage and have an open border until Mexico matches our minimum wage. What good does it do unemployed Americans to have a higher minimum wage?
If we have learned anything during this economic down turn it is that stagnant low wages didn't save any jobs and didn't keep prices down. Low wage workers have a golden opportunity to fight for higher pay because the money is there. Business is sitting on piles of cash.
Low wage workers have to understand that every hour of your day is a commodity and you have the right to set the price of that commodity just like everyone else. That’s why some people get a pay differential to work the grave yard shift. You time is more valuable after a certain time of day.
So getting rid of the minimum wage would increase job growth?
Explain how.
Reducing labor cost reduces the cost of doing business, therefore more businesses will be open which means more jobs.
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