|

Obama is right to push for a higher minimum wage

James Downie offers five reasons why President Obama is right to call for raising the minimum wage to $9 an hour and indexing it to inflation:

1. It will help the economy.

2. It reduces poverty and inequality.

3. It reduces the wage gap for women and minorities.

4. Indexing the minimum wage is common sense.

5. It’s consistent with American values.

Downie’s arguments are detailed HERE.

Share:

5 Comments

  1. 2 quick points:

    – Research published in the Southern Economic Journal, from economists at Cornell and American Universities, estimated that a a minimum wage increase will eliminate at least 467,000 jobs, much of it to younger people.

    http://www.people.vcu.edu/~lrazzolini/GR2010.pdf

    - 85% of the most credible economic research on the minimum wage from the last two decades points to job loss following a wage hike

    A minimum wage increase is further proof that liberals don’t want to decrease the unemployment rate.

  2. The Comedian

    I absolutely agree it’s the right thing to do. When premiums go up across the board, or some of the young people making minumum wage are forced to purchase health insurance, they’ll be ecstatic they had those extra bucks to look at on the gross income line.

  3. Craig Knauss

    “…minimum wage increase will eliminate at least 467,000 jobs….” Interesting. So can we assume that those 467,000 people aren’t really doing anything of value such that their positions can be totally eliminated? Will their bosses do the work? And I found it amusing that the report says only about 11% of the recipients will be “poor”. Can we assume that anyone earning minimum wage is really wealthy or will be with the new pay rate? $9.50/hr is a whopping $19,760 per year. Try living in Lake Forest on that.

    I’m not sure I necessarily agree with the minimum pay increase. What I would like to see is much better enforcement of the laws prohibiting employment of undocumented workers. The jobs they are taking should be available to our poor people.

  4. So Craig why did BOB say $15.00 per hour? That would give them an income of $31,200! But I guess then you’d complain about the cost of thing and that’s not right.

    But you could move to LA, in the big union grocery stores you get $22.00 per hour to bad grocery’s. But then the costs of everything in the store had to be raised to cover these new wages. So everyone else lost, what a shame.

Leave a Reply

Your email address will not be published. Required fields are marked *

CAPTCHA Image

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>