Obama to Bankrupt Country by Raising Minimum Wage
President Obama called for raising the minimum wage to $9/hr. Please tell me how many people will be fired if that happens? How many businesses will have to shut down? How many part time workers, will have their hours cut?
Please understand something: Obama is selling you pie in the sky. We’re adults. We know that a company has to pay, not just the worker’s salary, but his taxes, his state and local taxes, any benefits, unemployment fund, etc etc etc. Raising the minimum wage IN A RECESSION will only be bad. VERY BAD. for the already down economy.
You are not supposed to feed a family of 3 on a minimum wage job. Yes, people do it, but who’s fault is that? For every minimum wage job out there are 2 brain-dead jobs that pay better. Minimum wage means you have NO skill. It isn’t for someone that does immense calculations. If they wanted to pay more, the position would require more.
I guarantee you if the minimum wage is raised, people will get fired. And I mean, A LOT OF PEOPLE.
For those who have been following my blog, you already know from my macroeconomics posts, the minimum wage is a destructive tool that is used for racism and destroys productivity. It bankrupts business, raises labor costs and forces owners to fire the worst workers from his business. You can tolerate a bad worker at a lower wage. You cannot tolerate a bad worker at a higher wage.