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Saturday, February 22, 2014

Minimum Wage Spike

THE QUESTION OF RAISING THE MINIMUM IS NOT THE FACT THAT MANY WILL BENEFIT DIRECTLY FROM IT, BUT RATHER THE EQUALLY IMPORTANT FACT THAT MILLIONS WILL BE AFFECTED IN AN ADVERSE WAY.  WHEN THE MINIMUM WAGE GOES UP MANY EMPLOYERS WILL BE FORCED TO LAY OFF SOME WORKERS.  WHILE AT THE SAME TIME THOSE SAME COMPANIES WILL BE FORCED TO CHARGE MORE FOR THEIR PRODUCT OR SERVICE.  IT IS ECONOMICS 101, THAT ANY TIME THE WAGE OF WORKERS IN INCREASED ARTIFICIALLY, THE DEMAND FOR WORKERS GOES DOWN.  THE SAME APPLIES TO PRODUCTS SUCH AS HAMBURGERS AND WIDGETS---THE HIGHER THE PRICE THE LESS THE DEMAND.  AN INCREASE IN THE MINIMUM WAGE WILL BE GOOD FOR SOME AND BAD FOR OTHERS---TAKE YOUR PICK.  CARTOON BY  WILLIAM WARREN
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1 comment:

Sandee said...

If you want to trim your budget the first place you go is your employees. Always.

You expect Obama to know this? He's never worked in the real world that I know of and he certainly hasn't done a budget. Still isn't. Someone else does that for him.

Have a terrific day. :)