22 June 2006

More minimum wage nonsense

11:08 AM
Here we go with the minimum wage garbage again.  Fortunately, if you understand a little economics, the Senate Republicans blocked this latest move by Dems to increase the minimum wage.  And, no surprise, Democrats are complaining and making the usual accusations.  According to Nanci Pelosi, the Republicans have sided with the Big Oil friends.  I will spend some time to figure out who might work for an oil company and make minimum wage who might not work for some non-oil company and still be making minimum wage.  (My logic: If there are people who make minimum wage working for companies that are not related in any way to the oil business, then the oil business has nothing to do with the Republican position on the minimum wage.)

Among other things, Democrats expressed skepticism that raising the minimum wage actually harms those it is intended to help.  I explain here just how that happens.  This, I hope, is a telling excerpt:

“Employees whose wages are set by the market are happy.  Employees whose wages are set by Congress are unhappy.  The market compensates well and Congress doesn’t.  It’s the sort of thing that makes you go, ‘Hmmmmmmmmmmmmmm.’”

0 comments:

Post a Comment
Subscribe to: Post Comments (Atom)

About Me

James Frank Solís
Former soldier (USA). Graduate-level educated. Married 26 years. Texas ex-patriate. Ruling elder in the Presbyterian Church in America.
View my complete profile

Blog Archive