The
Wall Street Journal ran this tidbit yesterday:
Last year Congress raised the minimum wage, which is set to rise to $7.25 an hour next year from the current $6.55. But Mr. Obama wants to raise it again, to $9.50 per hour by 2011, and index it for inflation. Mr. Obama says further increases are necessary so that "full-time workers earn a living wage that allows them to raise their families and pay for basic needs." According to Census data, less than 1% of workers over 25 are earning the minimum. And rather than family heads or full-time workers, they tend to be young single adults, teenagers living at home or spouses providing a second income.
Moments ago Shep Smith was discussing it on FoxNews and admitted that when he runs down to get his Wendy's Value meal in New York - that it turns out to be $11. (For the same meal that would cost $3.50 in Mobile, Alabama.)
Shep points out the obvious truth.
When you force up the minimum wage two interesting things happen.
Products and Services get more expensive - thus TAXING everyone in America, and secondly many companies have to lay people off to get their employment budget in line.
Sure it sounds magnanimous for THE ONE to talk about people getting more pay. But it doesn't happen in a vacuum. And just like his ideas about "taxing business" it will not work.
Businesses - don't "PAY" for anything. People who frequent businesses, customers who order from businesses, and clients who order from businesses PAY FOR EVERYTHING. (Including an increase in wages, or 45% taxation that an Obama administration would likely level against them.)
Truly uneducated poor people, are about to rush into office a man who is about to create the single biggest season of unemployment, high tax, stagnated economic depression-like conditions we've seen in three generations. And while they've been mesmerized by his good looks, fancy words, and slogans of profound depth like "Hope and Change." The truth is he is about to unleash the single biggest assault against the poor of my lifetime...
PEOPLE - there is NOT an endless stream of "money" that Washington can GIVE you. That money comes from those who have earned it.