$10.10

[jared52 4,358]

I don't see a topic specifically talking about the pros and cons of this, so I thought I would start one. I go back and forth on this issue myself because I see good in both sides.

Pros:

More pocket money for low income earners to proved basic needs and some discretionary spending.

Increases tax revenue, if only slightly, which most agree needs to happen to help with budget shortfalls.

Moves more money from the top to the bottom of the economic chain.

Increases the likelihood that people will seek to get off welfare and into the workforce if the difference in welfare payments is substantially lower than getting a job,

Cons:

Could cost some jobs with companies that cannot afford to pay the excess cost for the same labor and skill set.

Could force companies and individuals to pay "under the table" to avoid the law.

Will likely increase inflation, which is already on shaky ground with the long term low interest rates.

What other pros and cons am I missing?

[AUcivE09 582]

The biggest Con is that it prices young, inexperienced, low skill laborers out of the market. These are the people, of coarse, that the admin thinks they will help.

Even at $10.10/hr I doubt you see enough welfare lifers leaving the handouts behind to work.

[TheBlueVue 177]

It doesn't solve anything so why do it. Only 1.1% of the work force is currently paid minimum wage and its impact hurts more people than it would supposedly help.

When this administration commented on the numbers of people losing their insurance it was called an inconsequential number. Its no surprise that a larger percentage lost their insurance than the minimum wage actually helps - so whats the point unless its just a political ploy to change the narrative going into an election that is shaping up in disastrous fashion for the left. I think most folks see this for what it is.

http://www.nationalreview.com/campaign-spot/367758/reminder-11-percent-us-workforce-makes-minimum-wage-jim-geraghty

[AUcivE09 582]

What is the percentage paid less than $10.10? Those are the votes he stands to gain.

[TheBlueVue 177]

What is the percentage paid less than $10.10? Those are the votes he stands to gain.

Only 1.1% makes minimum wage as indicated by National Review. I'd be guessing on the % that makes < $10.10. The unions are all about raising the minimum because union wages are somehow predicated on and tied to the minimum.The bottom line is even with the best intentions legislators cannot dictate the value of unskilled labor in a free market simply by passing a law and expect it to not have the opposite affect on many. Many lose their jobs every time the minimum is raised. The unfortunate reality IS..the real minimum wage is $0.00

[AUcivE09 582]

O yeah - I forgot the mob is tied into this.

[Proud Tiger 4,261]

The increase to 10.10 comes out of your pocket. Just more wealth distribution albeit a drop in the bucket.

[TheBlueVue 177]

Keep in mind these are the same democrats who passed a 1% increase in pay for military personnel last year. So, they want to pass a 39% increase in the minimum wage AND tie a permanent cost of living increase to it based on inflation. This is purely political and an effort to make the republicans the "enemy" once again. Obama keeps talking about people deserving a "fair shot". My question is what makes $10.10 an hour the threshold of a fair shot?

[autigeremt 7,458]

The fools know that this is a much better way to improve lives than unleashing the US economy from this self sustained repression.

[TastesLikeChicken 0]

Could the dems create more jobs instead of raising minimum wage? No, sorry asking too much.

[DKW 86 8,089]

http://www.usinflationcalculator.com/

Minimum Wage was $2.00 in 1978 or there abouts.

Today, adjusted for inflation, it would be about $7.25

Do the math yourselves.

I personally think that the minimum wage needs to be raised for other reasons and i could see it being $9-10 an hour.

There are Union contracts that base their minimums on multiples of the minimum wage too, so dont rule that out as a motivator too.

Still think it needs to be about $9-10 tho.

[TheBlueVue 177]

http://www.usinflationcalculator.com/

Minimum Wage was $2.00 in 1978 or there abouts.

Today, adjusted for inflation, it would be about $7.25

Do the math yourselves.

I personally think that the minimum wage needs to be raised for other reasons and i could see it being $9-10 an hour.

There are Union contracts that base their minimums on multiples of the minimum wage too, so dont rule that out as a motivator too.

Still think it needs to be about $9-10 tho.

The problem with thinking it needs to be anything is legislators cannot determine what the value of unskilled labor is in a free market. Every time it is raised people lose jobs and that's when the reality hits home that the real minimum is $0.00. Such a small segment of the population works for the minimum now, raising it seems more symbolic than substantive. However, raising it would generate raises for all union workers too because union pay is tied to the minimum so it would affect a lot of employers who are already paying way above minimum.

[DKW 86 8,089]

http://www.usinflationcalculator.com/

Minimum Wage was $2.00 in 1978 or there abouts.

Today, adjusted for inflation, it would be about $7.25

Do the math yourselves.

I personally think that the minimum wage needs to be raised for other reasons and i could see it being $9-10 an hour.

There are Union contracts that base their minimums on multiples of the minimum wage too, so dont rule that out as a motivator too.

Still think it needs to be about $9-10 tho.

The problem with thinking it needs to be anything is legislators cannot determine what the value of unskilled labor is in a free market. Every time it is raised people lose jobs and that's when the reality hits home that the real minimum is $0.00. Such a small segment of the population works for the minimum now, raising it seems more symbolic than substantive. However, raising it would generate raises for all union workers too because union pay is tied to the minimum so it would affect a lot of employers who are already paying way above minimum.

Well thanks for the setup: Dems put off Keystone Pipeline for another 3-4 years over some crapola and cash a $100M check, but makes the Unions mad. Then turns around and hands the Unions the minimum wage boost and gets them back in their corner. Everybody wins...not.

[japantiger 4,262]

http://www.usinflationcalculator.com/

Minimum Wage was $2.00 in 1978 or there abouts.

Today, adjusted for inflation, it would be about $7.25

Do the math yourselves.

I personally think that the minimum wage needs to be raised for other reasons and i could see it being $9-10 an hour.

There are Union contracts that base their minimums on multiples of the minimum wage too, so dont rule that out as a motivator too.

Still think it needs to be about $9-10 tho.

The problem with thinking it needs to be anything is legislators cannot determine what the value of unskilled labor is in a free market. Every time it is raised people lose jobs and that's when the reality hits home that the real minimum is $0.00. Such a small segment of the population works for the minimum now, raising it seems more symbolic than substantive. However, raising it would generate raises for all union workers too because union pay is tied to the minimum so it would affect a lot of employers who are already paying way above minimum.

Well thanks for the setup: Dems put off Keystone Pipeline for another 3-4 years over some crapola and cash a $100M check, but makes the Unions mad. Then turns around and hands the Unions the minimum wage boost and gets them back in their corner. Everybody wins...not.

what you said

[Auburnfan91 1,408]

http://www.usinflationcalculator.com/

Minimum Wage was $2.00 in 1978 or there abouts.

Today, adjusted for inflation, it would be about $7.25

Do the math yourselves.

I personally think that the minimum wage needs to be raised for other reasons and i could see it being $9-10 an hour.

There are Union contracts that base their minimums on multiples of the minimum wage too, so dont rule that out as a motivator too.

Still think it needs to be about $9-10 tho.

I think it should be raised too but not right now. I think the economy is still too weak. I'd wait till 2016 and raise it to $8.75 or $9 but right now the economy needs to show modest signs of growth before we raise the minimum wage.

[AUcivE09 582]

Why not deregulate industry (really just leave it alone where it is), blow up NAFTA, and bring the cost of goods down. Maybe hang a few oil speculators. Seems like a better idea than increasing inflation while pricing the young, poor, uneducated out of a job.

If this were the late 80's early 90's - sure - give people a few more dollars. As stated above, this is the wrong time to increase personnel costs. Business already has to pay more for healthcare.

[autigeremt 7,458]

It's not about helping people. It's about helping politicians.

[TheBlueVue 177]

It's not about helping people. It's about helping politicians.

of course it is. Like I said earlier, this is purely political trying to paint the republicans as the "enemy" of America. Democrats are understandably in desperation mode.

[AUcivE09 582]

It's not about helping people. It's about helping politicians.

of course it is. Like I said earlier, this is purely political trying to paint the republicans as the "enemy" of America. Democrats are understandably in desperation mode.

I would counter they have done a pretty decent job at this. Fewer than 40% would still support them if it wasnt for so much racist paint being thrown around.

[Auburnfan91 1,408]

From 1991-2005, the minimum wage had risen by $ .90

1991 minmum wage was $4.25. 2005 minmum wage was $5.15.

From 2006-2014, the minimum wage has risen by $2.10

2006 minimum wage was $5.15. 2014 minimum wage is $7.25.

http://www.infoplease.com/ipa/A0774473.html

[TheBlueVue 177]

It's not about helping people. It's about helping politicians.

of course it is. Like I said earlier, this is purely political trying to paint the republicans as the "enemy" of America. Democrats are understandably in desperation mode.

I would counter they have done a pretty decent job at this. Fewer than 40% would still support them if it wasnt for so much racist paint being thrown around.

They have done an excellent job for the low info voters. Folks who know the difference between chicken**** and chicken salad can see through their vitriol. The conservative movement, with all its warts, represents the traditional values that made this country great. many are trying to tear those tradtions apart but offer nothing in their stead.