Call me crazy, but don’t you find it interesting that the jump in the unemployment rate comes about a month after the hike in the minimum wage?
I know for a fact that at least two people at one local business were laid-off because the business could not absorb the increased costs. Admittedly those jobs didn’t provide a living income – but in one of the two cases above the job provided additional income to a struggling family – and now they have to find a way to replace not just the difference between the old rate and the new rate, but the old rate and zero. Zippo. Zilch. And there’s no unemployment insurance either – he hadn’t been at the job long enough.
Way To Go! all you caring, benevolent, progressive liberals. Basic economics has taught us that when the cost of doing business goes up one of two things will happen: Business passes the increases on to the customers (Inflation), or they cut costs (Unemployment) because the only “business” that has a printing press in the back room is the federal government.
I know that the folks who generally have minimum wage jobs probably don’t have the educational background to understand the economic system, but the people who pushed for the higher minimum wage (like Steve Bullock – candidate for Attorney General) surely do – and they have chosen to ignore economic realities for political feel-good demagoguery.
Shame on them.
the downturn in the economy wasn’t bush’s fault. he wasn’t here. really says the GOP. really. it’s all those democrats – them’s the ones at fault.
and all them poor people who want to earn enough to live on. they’re just greedy.
Actually, you might need to brush up on your economics. Recent research on minimum wage increases has indicated that the minimum wage has little to no effect on the unemployment rate. If you don’t believe me, talk to Ben Benarke, or perhaps Nobel Laureate in economics, Robert Solow. If you are going to pretend to understand economics, at least get updated on the recent research.
Shush up. Don’t you know you are not supposed to notice. After all the liberals feel good now and isn’t that all that counts. 8^(
Reminds me of the luxury tax the liberals did a few years ago (under Carter I think). We’re going to tax all those rich people’s yachts and planes.
Of course the rich people just bought their luxury items used or overseas so all of the American manufacturers had to lay people off. But the liberals sure felt good about getting all those rich people.
“Unintended consequences”.
Liberals need to come up with another solution than just tax and spend so they can feel good while they cause havoc to everyone else. Because so far all I’ve heard is that they intend to raise taxes and spend more if they are elected. After all you lurking liberals out there just remember you can’t spend yourself into a balanced budget.
Barb – I don’t know where you’re getting your information, but Ben Bernanke, in a speech in Omaha, Nebraska in Feb., 2007 stated, “…although higher minimum wages increase the wages of those who remain employed, they may also lead to reduced employment of low-skilled workers.”
As for your other source, Robert Solow – well, a member of the Economists for Peace an Security he doesn’t strike me as a capitalist at heart. As for the Nobel Prize – gosh the credibility for those selections just doesn’t do much for me since Al Gore won one.
According to my research, in a survey about this issue, over 60% of the economists agreed or strongly agreed with Mr. Bernanke’s assessment. And you know what George Bernard Shaw said – “If all the economists in the world were laid end to end, they still wouldn’t reach a consensus.”
Hey, I never claimed to be an expert. But I am married to one.