A house panel decided to raise minimum wage from $5.15 to $7.25. Would this be a good move for the American people? I think not. Why it may help the lower economy bracket for a while, it would only kill the stock market, and small businesses. Ponder this question, if a corporation has to raise pay $2.10 for each employee that is at the minimum wage mark, don’t you think that they would look for employees elsewhere. That would mean more outsourcing and more Mexicans coming over the border illegally, and that is a whole other issue.
If you are a small business, let’s say construction, and two options on who to hire, either a legal American that will demand proper benefits and insurance, or you have an illegal immigrant that does not require any benefits, nor do you have to take out taxes on said person. Who are you going to hire? It is very important that the US government fix this issue. I don’t blame people for wanting to have a better life, so I’m blaming the companies hiring them. Personally, I do not believe that this would be a good move for the American people. Yes, the wages need to be hiked, but not such a dramatic amount at such crazy future-less time in America. I don’t believe it will be passed, for it is a part of a much larger bill, which is funding health-care and educational programs. What is your say?
Seven Appropriations panel Republicans voted with Democrats to
approve the wage hike, including John Sweeney and Jim Walsh of New
York, Ray LaHood of Illinois, Jo Ann Emerson of Missouri and Don
Sherwood of Pennsylvania."Now we’ll see what they do with it."
said Minority Leader Steny Hoyer, D-Md., who sponsored the wage hike,
based on a bill by Rep. George Miller, D-Calif., to raise the wage in
three increments over two years. "We’re going to make a very pointed
issue out of this."When adjusted for inflation, the $5.15 per
hour wage is the lowest it has been for 50 years, according to a study
by Center for Economic and Policy Research, a liberal-leaning think
tank.
"The minimum wage is lower than it has been at any time
since 1956," said Miller, the top Democrat on the House Education and
the Workforce Committee. "Congress’ refusal to raise the minimum wage
shows an utter disrespect for millions of Americans who work hard every
day and still struggle to meet even the most basic needs."But
Republicans counter that raising the wage would provoke inflation and
lead to job losses, especially for young people just entering the job
market.At $5.15 per hour, a worker who works 40 hours a week for 52 weeks a year earns $10,712 per year.
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Of course the big companies like Wal Mart, Exxon, etc. can afford to raise the minimun wages given their record profits and the outlandish CEO salaries and benefits pacakages they are getting.
It seems like a lot of small business owners acutally treat their workers much better than the Big Fortune cos. do.
If they would have shared the wealth a little during their boon years, maybe we wouldn’t need this hike. But given no incentive, it seems CEOs think of themselves and their shareholders. Not the people who are out in the trenches, the folks who are often the public’s main point of contact with a company are treated like disposables.
People in this country need decent jobs and good living wages. If the folks at the top weren’t getting richer while the folks at the bottom get poorer, that would be different. But that isn’t the case.
Hi Lisa, thanks for bringing up a very important point. Poor people are getting poorer, while rich corporations are deepening their pockets, especially the oil companies. By the way, I am an american, I just have blogs listed from throughout the world. Of course, I would have to be an American to have a name like that.
Thanks for commenting, and come back because I will have more to say, for I’m an Opionated Irish-American.
When the minimum wage was introduced in the UK a few years ago, there was a similar debate and the doom-mongers predicted mass unemployment and disaster for small businesses.
It didn’t happen, in fact, the reverse happened and unemployment has gone down and business confidence has increased.
Skint writer, I hope the same will happen here. I don’t really have a strong opinion on the subject, but i did want to get other views, besides my own. Thanks for commenting…