Boy, I am posting up a storm (this will have to be the last one for today, though--WORK WORK WORK!)
Today the minimum wage increase from 5.15 to 7.25 an hour goes into effect. Workers in low skill jobs rejoice! That is until their employer realizes they are not productive enough to justify 7.25 per hour and lays them off. Or when in a year or so, the higher costs of production increases the costs of goods making the increase in wage meaningless to their standard of living.
Do people honestly believe that minmum wage increases help the poor at all? Do these "advocates" think that employers are just going to eat these increased labor costs? Isn't a low wage better than no wage? The people who time and time again come up with this stuff must have been humanities majors!
Chet Suburbanteenager working this summer at Abercrombie so he can get an iPhone will be pleased. But, is he the one we are doing this for?