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(CNSNews)   Rep. Jesse Jackson Jr. (D-lusional) wants to raise the minimum wage to $10 an hour. Yea, that will fix this whole unemployment problem we're having right now, won't it?   (cnsnews.com) divider line 18
    More: Dumbass, Jesse Jackson, Jr, Fair Labor Standards Act, Ralph Nader, consumer price index, Public Citizen  
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513 clicks; posted to Politics » on 08 Jun 2012 at 10:09 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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Archived thread
2012-06-08 09:37:02 AM
15 votes:
Terrible idea, because if you give minimum-wage workers more cash, they'll generally just route it to offshore Cayman Islands accounts instead of buying things and pumping the money right back into the economy.
2012-06-08 10:20:10 AM
5 votes:
If you give the poor more money, they'll just use it to buy even more food stamps and welfare.
2012-06-08 10:16:03 AM
2 votes:
"If we actually pay poors so they can handle the average cost of living on the poverty line, they would have more money to buy torches and pitchforks when they wise up to the scheme we're playing at their expense." -Republican
2012-06-08 09:46:44 AM
2 votes:

Marcus Aurelius: Boosting the minimum wage to $10 an hour would pump billions of dollars directly into the economy, help balance the budget, and improve the fortunes of the entire country in short order. So it'll never happen.


To be fair, we could achieve the same results if Wyld Stallyns ever released their triumphant music video.
2012-06-08 11:01:53 AM
1 votes:

GentDirkly: Milton Friedman's argument was not that raising the minimum wage causes layoffs. His argument was that it hardens the labor market. He said that a high minimum wage makes it difficult for young people who lack skills to gain them through experience. Friedman would say, "Sure, nearly every mature person is capable of producing $10 of value every hour, but what about those people that aren't mature yet? Do you really trust public schools to get them there? Many of them will have their potential wasted in unemployment or underemployment rather than learning valuable skills."

In other words, a minimum wage can really destroy the idea of apprenticeship if strictly enforced.


Except that Friedman's theory on this has been disproven in the real world time and again. Beyond that, Friedmanite economics have been completely disastrous everywhere they've been tried. You might as well - no, actually, you would do better to - be quoting Marx.
2012-06-08 10:32:48 AM
1 votes:

Dancin_In_Anson: Of course, you could make $25/hour shoving pipe down a hole too.


...go on...
2012-06-08 10:31:28 AM
1 votes:

Propain_az: Why stop at $10/hr ? Why not $20? If $10 would help so much, 20 would make us the strongest nation on the Earf!


i51.tinypic.com
2012-06-08 10:29:14 AM
1 votes:
Well, it would put more money in the hands of the demand-creators rather than the wealth-hoarders.
2012-06-08 10:28:08 AM
1 votes:

sweetmelissa31: Job creators are so nice, just giving out jobs. It's not like they actually need anyone to do labor.


we had better give them tax cuts, otherwise they might take all the jobs away :(
2012-06-08 10:22:12 AM
1 votes:

cman: The problem with this is that employers would have to raise prices on the services or products that they sell.

When it comes to products, this would be a huge boon for China as we would not be able to compete even moreso than right now.


So you are willing to work for less than minimum wage at your job to keep the costs of your products low and help our global competitiveness, right? I honor your sacrifice. The fact that your children don't have enough to eat is a small price to pay for your patriotic efforts for our economy. I would personally like to donate a new cardboard box for you and your family to live in. What underpass should I ship it to?
2012-06-08 10:14:03 AM
1 votes:
img.photobucket.com
2012-06-08 10:13:55 AM
1 votes:
That will almost bring it up to the minimum wage level in most of Canada ($10.25 Ontario). But I'm sure the US would be crushed by that high a minimum wage just like it would universal healthcare and same sex marriage.
2012-06-08 10:12:13 AM
1 votes:

Marcus Aurelius: Boosting the minimum wage to $10 an hour would pump billions of dollars directly into the economy, help balance the budget, and improve the fortunes of the entire country in short order. But it might cause a tiny drop in corporate profits. So it'll never happen.


FTFY.

/Profit uber alles.
2012-06-08 10:11:57 AM
1 votes:
This is such a silly idea. Everyone knows that the only way to solve unemployment is to do away with the minimum wage. Everyone knows that when there isn't a minimum wage, there is no unemployment, unhappiness, or unhealthiness in a country.

Duh.
vpb [TotalFark]
2012-06-08 09:57:03 AM
1 votes:

Nabb1: Dropping fries is not worth $10 an hour.


What is being born to the right parents and corrupting politicians worth?
2012-06-08 09:55:52 AM
1 votes:

Nabb1: Dropping fries is not worth $10 an hour.


Better than crashing the economy and making millions.
vpb [TotalFark]
2012-06-08 09:55:36 AM
1 votes:

sweetmelissa31: Job creators are so nice, just giving out jobs. It's not like they actually need anyone to do labor.


They do it all themselves, that's why they are called wealth creators. Every roll of toilet paper from Georgia Pacific was personally made by one of the Kock brothers.
2012-06-08 09:45:38 AM
1 votes:
Boosting the minimum wage to $10 an hour would pump billions of dollars directly into the economy, help balance the budget, and improve the fortunes of the entire country in short order. So it'll never happen.
 
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