From a NYT editorial:
Raise the Minimum Wage to $12 an Hour - Room for Debate - NYTimes.com
A $12 minimum wage is hardly extreme or ridiculous. At the 1968 height of our post-war economic prosperity, the American minimum wage was over $10.50 in current dollars, and setting the rate at $12 today would represent a real rise of merely 11 percent over a 45-year period, which seems reasonable since worker productivity has grown by over 115 percent during the same period. The minimum wage in France is almost $13 while Australian workers benefit from an hourly minimum wage of around $15, together with unemployment of just 5.7 percent.
You cannot talk comparisons between socialist or quasi-socialist countries v the US in terms of economics of the minimum wage as if the playing field is equal. People in socialist countries have their healthcare, one of the biggest expenses of employers and private individuals, covered already. So employers there aren’t getting hit as hard in the gonads if wages are hiked.
Here’s what I see happening if the fools that “run” this country talk about raising the minimum wage before they enact Universal Healthcare [UHC]: Small businesses will experience this as the final assault to their anemic bottom line. In droves they will topple into bankruptcy long before this supposed boon to the economy kicks into gear. All we will have left is large corporate monopolies who then will put their yokes around the necks of the poor, have unlimited power to lobby Congress to allow loopholes in price fixing.
In college part of my ag emphasis included a topic on environmental biology. It is exactly like economic diversity. The more diverse your economic base, the more it can sustain blows. The least diverse, the blows can be fatal. This erosion of our diversity is not going to be felt immediately. It will be felt more likely just after perhaps an enemy of the US devises a plan to pull the pins out of just one or two of our remaining crucial industries.
We are headed now by a gang of idiots. I know this is the Left vs. Right forum but they are in droves on both sides. We have elected a bunch of smooth talkers and pretty faces who have not even an elementary school level of mathematics when it comes to the simple equations of our long term economic health and growth. All they literally care about is getting elected again in the next cycle. So all they think about is short term. This is why countries like China are kicking our butts. They’ve been around for thousands of years and they know the foolish errors we are making.
This thread is for the discussion of not just the minimum wage, but also how UHC can replace a minimum wage hike with benefits/immediate relief to small business owners and private individuals. These employers will then be able to hire more people who simultaneously will have more spending cash each month. Diversity will be preserved and the economy will turn around. You do it the other way and you might as well sign the Deed of the US of A over to China and company right now. If you think that’s an absurd statement, bear in mind their allegiance with key ME countries/oil and how hard it is to defend a country with a military that finds itself suddenly broke and without a steady supply of oil to run and manufacture its hardware.
THINK. THINK. THINK.