Monday, September 8, 2014

Minimum Wage

Every time you raise the minimum wage, people lose their jobs as employers can't afford to keep all their employees at the new rate. President Obama wants to give 5 million illegal aliens amnesty. That's five million workers willing to work for the bottom wage, that's why there is a labor surplus and wages are so low. 

Also machines are taking jobs too. As human labor gets more expensive machines take over. When I was a kid every elevator had an elevator operator. Minimum wage got too high so they were able to upgrade every elevator and lay off all the elevator operators and still save money. Not too long ago every bank transaction was done by a human, now most banking is done on line or by ATM and fewer and fewer employees are working in banks, because they are too expensive. 

Humans doing fast food jobs will be replaced by machines, they already are in some places. Raise the minimum wage to $15 per hour and you accelerate the process. If $15 is so good, why not $20 per hour or $50 per hour and we call all be rich?  If you raise the minimum wage, then prices will have to go up to pay for it, that's the view from the Hysterical Right Wing.

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