Re: The minimum wage was $8 an hour in 1968

From: Alittlefreedom (alittlefreedom_at_yahoo.com)
Date: 10/23/04 

Date: 23 Oct 2004 15:24:41 -0700

economist101@lycos.com (Senior Economist) wrote in message news:<1874c8f0.0410211402.2fd2bb98@posting.google.com>...
> In 1968 the Minimum Wage was $1.60. That is the equivalent of $8 an
> hour in 2004 dollars. Given that we are a richer society 35 years
> later, the minimum wage should now be close to $12 an hour.
>
> Higher wages means more money to spend - if prices rise, people will
> have the money to buy the higher priced products. More money in the
> hands of consumers will stimulate the economy, make it more productive
> and make us all richer. We will also save money as crime disappears
> and our economy reaches full employment.
>
> Higher wages equal higher tax revenues. Instead of cutting taxes, we
> should raise wages. If we want wages to rise, we should begin raising
> them at the bottom, and the higher salaries will follow.
Socialism Is A Mental Disease said:
"This would be a prescription to export more work (and, therefore
jobs)
to lower cost producers. Unemployment would rise as a consequence"
"Labor, skilled or not, shouldn't get more than what the market is
willing to give. In reality, there are no reason to reward the losers
qualified as unskilled labor."
"More cash pursuing the same amount of goods and services means only
one thing: inflation. The poor bastards would benefit for a little
while but not for long."

 
I will accept your views that inflation will rise, because the top of
the food chain will still insist on having thier first dip.
I will not accept your view that it isn't or shouldn't be your problem
or that low wage earners are "losers" as you like to call them.
Not all low-wage earners are fast food employees or not- so-friendly
cashiers at the grocery store.
Let's talk about the other people you consider lazy or not worthy of
your respect and maybe you will reconsider your views:
The garbage man, without whom you will have tons of refuse sitting on
your curb (think of the health consequences not having him)
 
The certified nursing assistant who cares for you in the hospital or
your Grandma when YOU think it's too hard to take care of her. (I can
tell you I have personally seen a small woman lift a man and change
the sheets without removing that man from his bed, they also feed the
sick/old when they can't hold even a spoon, give friendly conversation
when people like you have no time to visit)
 
Or lets talk about the low-wage earners who work at water-treatment
plants without whom you would have no clean water to drink.
 
The migrant worker who picks the food you eat and gets maybe $50 for a
12 hour day. Thier kids sometimes wear no shoes because the parents
can't afford them.
 
And all everyone can talk about are the employees who just make our
lives convenient.
 
They work hard while lap-dogs like you sit in thier tidy homes
watching thier plasma tvs on thier lambskin couches judging them based
on what they do for a living.
 
Go ahead, go to work on Monday and smile while you asslick your boss
'till you get another raise you probably don't deserve.
In the meantime, ignore those low-wage earners who can't afford rent
in a booming housing market while some of them (if they even bother to
apply) wait on a list for two or more years for HUD housing grants/
Oh wait, most of them won't qualify for government assistance, they
earn too much at $6.15 and hour.
 
 
"Socialism is a Mental Disease" <root@localhost.> wrote in message news:m98in011aq2557f18k1n4ibi6e4cfn6fd9@4ax.com...
> On Fri, 22 Oct 2004 04:18:43 GMT, William F Hummel