https://www.foxbusiness.com/ec...minimum-wage-sanders

$15 minimum wage loses eight Democratic votes in Senate

Senate Democrats lost eight votes in its caucus for the $15 minimum wage proposal, bringing the total votes in favor of the amendment to 42-58 when it needed 60 to pass.

"At a time when millions of people are working for starvation wages, when the minimum wage of $7.25 an hour has not been raised by Congress since 2007, when the President of the United States and the House of Representatives support it, it is absolutely imperative that the Senate approve an increase in the minimum wage to $15 an hour," Sanders said in a statement in response to the news.

All the little commies out there should ask why their leaders want to import half of South America, Africa, India, and China to drive wages down.

Good. There should be celebration in the inner cities, but I'm sure there won't be.

Minimum wage laws don't make anyone's work more valuable, and they can't mandate that employers pay more than work is worth.

All those laws do is;
1) get everyone let go, whose work isn't worth whatever stupid number is picked,
2) make it harder for entry folks to get their first jobs, because their work isn't particularly valuable yet, causing long-term unemployment as kids don't learn the skills needed for higher-paying subsequent jobs,
3) make more work worth outsourcing to places without such stupid rules,
4) cause more research on how to eliminate that work entirely, via automation or increased capital investment,
5) raise costs, and thus prices, for goods and services using a lot of unskilled/entry level labor, and
6) get a pay boost for others; for some that will only temporary till their work is eliminated, or outsourced.

The only effect highlighted by those pushing for this sort of legislation is number 6. And, of course, those recipients will be most grateful.

The victims of effects 1-5 , of course,are diverse and most won't have any idea why they were fired, or can't find jobs, or paying more for stuff, and will be angry. And most likely blame whoever is touted as 'holding them down' by the usual suspects. And the beneficiaries of number 6? The changes coming to them every paycheck (getting $Y/hr instead of $X/hr) ensure they will remember, gratefully.

So, politically, in an environment where the media knows nothing about economics, cares nothing about good government per se, and acts as a shill to one political party...of course hiking the minimum wage would be a total win.

And of course, senior citizens on fixed incomes will get hosed big time because of price increases if this drivel passes.

quote:

All those laws do is;

2) make it harder for entry folks to get their first jobs, because their work isn't particularly valuable yet, causing long-term unemployment as kids don't learn the skills needed for higher-paying subsequent jobs,

^^^ this ^^^ is the single biggest reason I've been saying for years.
When you start our youth young (like most of us old codgers were raised on) on the work ethic it translates to productivity in society.

Why is this posted in the 'What's Your Deal!' subforum? Unless I missed something, this would appear to be a good thing....

quote:

Originally posted by nhracecraft:
Why is this posted in the 'What's Your Deal!' subforum? Unless I missed something, this would appear to be a good thing....

It is a good thing. I put it here to complement the other minimum wage bill in this section.