Re: Effects of raising minimum wages in USA

Draccarlaw <zutalors212@xxxxxxxxx> wrote:

On CNN.com, I read the following snip: " Republican critics said the
minimum wage was a job killer, not the boon to low-wage workers portrayed
by Democrats.

Well it is a boon to the low-wage workers - if they keep their jobs
after the legislation has been passed.


"This is a classic debate between two different philosophies. One
philosophy believes in the marketplace, competition and entrepreneurship,
and the second is a philosophy that says government knows best," said Sen.
Johnny Isakson, R-Georgia. He said France and Germany have high minimum
wages but also high unemployment."

Government always pretend to know best, even when it's wrong.

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I have to admit, that this Sen. Isakson seems to have a point. The
unemployment rate (UR) in Europe is much more than 6%, and their minimum
wage is higher, although I'm not sure where it stands.

I thought that when economists calculate the unemployment rate, that they
don't take into account certain segments the population. Moreover, there
are certain situations which the UR gauge is not accurate/informative on.
For example, it doesn't state if people are under-employed.

Here is my question: In your opinion, do you think that raising the
minimum wage would be a benefit/burden to the US economy and US
well-being?

Burden, as it would mean more unemnployment for teenagers, minorityies,
and low-skilled workers.

it also increases the incentive for illegal aliens to come to the USA,
as it articifially pushes up the wage rate.


--
regards, Peter B. Perlsø - liberterran.org - antipartiet.dk
"The politicians don't just want your money. They want your soul. They
want you to be worn down by taxes until you are dependent and helpless."
- James Dale Davidson, National Taxpayers Union
.

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