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Thread: President Obama To raise Minimum Wage to 9.50 an Hr

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    President Obama To raise Minimum Wage to 9.50 an Hr

    The President wants to raise the Federal minimum wage from the current 7.50hr to 9.50 an hour.....Good Idea or not? 7 states this year are just bringing the 7.50 up to date.....not to mention States are looking to surpass the fed minimum wage as it is.....How does this help the economy?

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    Quote Originally Posted by Midwest Media Critics View Post
    The President wants to raise the Federal minimum wage from the current 7.50hr to 9.50 an hour.....Good Idea or not? 7 states this year are just bringing the 7.50 up to date.....not to mention States are looking to surpass the fed minimum wage as it is.....How does this help the economy?
    It won't happen; because, it will cost alot of jobs at a point when the economy is hurting just to bring in 39,000 jobs a month now.

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    It will produce more in taxes revenues.

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    Senior Member Spooky's Avatar
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    Quote Originally Posted by Midwest Media Critics View Post
    The President wants to raise the Federal minimum wage from the current 7.50hr to 9.50 an hour.....Good Idea or not? 7 states this year are just bringing the 7.50 up to date.....not to mention States are looking to surpass the fed minimum wage as it is.....How does this help the economy?
    It is always good to have more money in your pocket than less money. He should give these people a tax break so that their raise in pay is not evaporated by the government.

    Minimum wage is really a call to continue poverty. I would be in favor of a maximum wage limit. Any money earned over a certain amount will go into the general fund, the common wealth, which woulod be used to aid those earning less.

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    Quote Originally Posted by Gypsy View Post
    It will produce more in taxes revenues.
    So in essence raising taxes.....yes?

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    Senior Member Spooky's Avatar
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    When i moved out west i got a part time job at $9.50 an hour to supplement my SS. I ended up valuing my free time more than the bucks and quit. However some retirees may find that getting the extra money is necessary.

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    Quote Originally Posted by Spooky View Post
    It is always good to have more money in your pocket than less money. He should give these people a tax break so that their raise in pay is not evaporated by the government.

    Minimum wage is really a call to continue poverty. I would be in favor of a maximum wage limit. Any money earned over a certain good will go into the general fund, the common wealth, which woulod be used to aid those earning less.
    I agree....still a stagehand is a stagehand.....and I do not think a stagehand requires making 280,000(exaggerated) dollars a year. Do you? Not unless it is like .1% and that person's life is on the line.....plus there is the fact like the City of Chicago already raising the minimum wage. How does giving more do anything but make the numbers look good in spending more?

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    King Obama is a traitor! michaelr's Avatar
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    The problem with this is simple. The government made a law providing that the minimum wage is tied to the CPI, and the government lies about the true CPI. Many states have this provision in their constitution. I believe that raising the minimum wage will spur law suites, and we can all point our finger at the evil ones bringing the suites instead of telling the federal government to count inflation properly. Once that is done, the minimum wage will naturally increase.

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    Mandating that companies should exceed what they are able to pay unskilled workers is not a good idea. I found an article about a study completed recently by Ball State University to back up why I think increasing the minimum wage to $9.50/hr is a bad idea (note the parts in bold). Raising the Minimum Wage Has Caused Businesses to Scale Back - MFRTech

    Here are some highlights of the study from the article, the study can be found here Ball State University - Center for Business and Economic Research

    Increasing the minimum wage was meant to raise the living standards of millions of Americans holding unskilled, entry level positions. But it may have led to the elimination of 550,000 jobs — opening the possibility that such wage levels should be revised, suggests a new study from Ball State University…
    "Minimum wage legislation has long been popular precisely because it holds the promise of helping low wage workers without an associated cost," Hicks said. "The truth has largely been that it has not helped workers because the United States had gone for two generations with the minimum wage largely trailing the hourly compensation of unskilled, entry level workers."

    Minimum wage increases before 2007 had a negligible impact on employment because few workers were employed at the minimum wage, Hicks said.

    "But when the minimum wage for unskilled workers surpassed what companies were able to pay during the recession, employers started cutting back," he confined. "Instead of hiring a dozen teens to work a popular summer restaurant or theme park, a company would hire six or less. Instead of filling positions that required no skills, companies were making do with what they had. In the long run, this hurt young, unskilled workers."

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    Shitposting Rank 4 Missle Command Champion johnflesh's Avatar
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    Quote Originally Posted by Spooky View Post
    I would be in favor of a maximum wage limit. Any money earned over a certain amount will go into the general fund, the common wealth, which woulod be used to aid those earning less.
    What would you consider a max wage? My children and my wife's livelihood would like to know.

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