Wednesday, December 26, 2007
The least we can do
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A state panel is recommending a hike in the minimum wage and an indexing scheme that would tie it to the cost of living index — a move designed to prevent the kind of neglect that allowed the minimum wage to fall so far behind inflation in the first place.
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May I point out that the BIG winner in ALL minimum wage hikes are the gooferment workers, the unions that get “parity” via pay table or linkage of some type, and the friends of politicians.
The taxpayers get killed by higher cost of gooferment as well as a slight rise in prices.
But the real victims are the marginal workers and marginal business. At the margins, some workers lose their jobs and some businesses fold hurting everyone. Teen and minority unemployment goes up.
It’s very simple. Follow the money!
On a moral basis, where does the gooferment get the authority to interfere between the freely agreed contract between employee and employer. When they put a “price floor” on labor, they ensure that the marginal worker gets to make ZERO forcing them on the dole AND at the same time depriving the business of the ability to get work performed at a price that can be afforded.
It seems so simple.
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