http://www.nicholls.edu/bastiatsbastions/2006/09/18/minimum-wages/ What is seen and what is unseen. Fri, 19 Feb 2010 03:23:56 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://www.nicholls.edu/bastiatsbastions/2006/09/18/minimum-wages/comment-page-1/#comment-461 Paul Buras Wed, 20 Sep 2006 16:13:40 +0000 http://www.nicholls.edu/bastiatsbastions/2006/09/18/minimum-wages/#comment-461 The federal minimum wage has remained at $5.15 an hour since September 1997. That means the minimum wage has remained the same for NINE years. That's right nine years, which is way over due for a minimum wage increase. Also, there has only been one other time in which minimum wage has been unchanged for more than nine years, from January 1981 to April 1990, nine years and 3 months. Also, if Congress does not raise the minimum wage before December 1 2006, the federal minimum wage would make the history books of the longest streak without a raise. Furthermore, while the cost of living has increased about 26% since September 1997, would it not make sense to raise the minimum wage so that unskilled laborers can keep up with the cost of living. I think the concept is quite simple. A nine year drought is way too long for the minimum wage to be increased. Think about. The national inflation average every year is around 2%.So that means if goods are increasing in value at about a 2% average. Would it be fair to say that salaries of worker should increase in concert with inflation. To me the answer is yes. And nine years is way too long. Lastly,I think the mimimum wage policies should be revamped to allow for wage increase periodically to reflect the cost of living. Most private buisness practices this. Why should the national minimum wage law be any different? The federal minimum wage has remained at $5.15 an hour since September 1997. That means the minimum wage has remained the same for NINE years. That’s right nine years, which is way over due for a minimum wage increase. Also, there has only been one other time in which minimum wage has been unchanged for more than nine years, from January 1981 to April 1990, nine years and 3 months. Also, if Congress does not raise the minimum wage before December 1 2006, the federal minimum wage would make the history books of the longest streak without a raise. Furthermore, while the cost of living has increased about 26% since September 1997, would it not make sense to raise the minimum wage so that unskilled laborers can keep up with the cost of living. I think the concept is quite simple. A nine year drought is way too long for the minimum wage to be increased. Think about. The national inflation average every year is around 2%.So that means if goods are increasing in value at about a 2% average. Would it be fair to say that salaries of worker should increase in concert with inflation. To me the answer is yes. And nine years is way too long. Lastly,I think the mimimum wage policies should be revamped to allow for wage increase periodically to reflect the cost of living. Most private buisness practices this. Why should the national minimum wage law be any different?

]]> http://www.nicholls.edu/bastiatsbastions/2006/09/18/minimum-wages/comment-page-1/#comment-457 Claire Bollinger Wed, 20 Sep 2006 02:25:16 +0000 http://www.nicholls.edu/bastiatsbastions/2006/09/18/minimum-wages/#comment-457 Minimum wage should not be raised any higher than what it is right now. The arguement is that a higher wage will help the poverty stricken and low income workers because it will give them more money to support themselves or their families. If this is the case, why not raise the min wage to $35/hour? Won't this help eliminate poverty? The answer is no. A higher min wage means higher prices for goods and services in the future. Companies will have to raise the price of goods in order to pay thier employees the higher wage. Also, a higher wage means that more skilled workers will be hired rather then unskilled workers which defeats the whole purpose about that a higher min wage would help low income(unskilled) families. The minimum wage should remain at $5.15. Minimum wage should not be raised any higher than what it is right now. The arguement is that a higher wage will help the poverty stricken and low income workers because it will give them more money to support themselves or their families. If this is the case, why not raise the min wage to $35/hour? Won’t this help eliminate poverty? The answer is no. A higher min wage means higher prices for goods and services in the future. Companies will have to raise the price of goods in order to pay thier employees the higher wage. Also, a higher wage means that more skilled workers will be hired rather then unskilled workers which defeats the whole purpose about that a higher min wage would help low income(unskilled) families. The minimum wage should remain at $5.15.

]]>