Houston Chronicle--
WASHINGTON -- by a vote of 315-116, the House voted Wednesday to increase the federal minimum wage to $7.25 an hour, which is an increase of $2.10 from its current $5.15 an hour to increment in three steps over 26 months.
The last increase of the federal minimum wage was in 1997, during President Clinton's term in office.
Supporters of the bill said that the increase is badly needed assistance for the working poor. However, business groups and other critics said it could lead to higher cost of good and services and for smaller companies to reduce labor.
Economists are also considering the effects that the increase will have on low income workers MSNBC--, citing that it will increase the use of illegal immigrants to offset higher costs.
with the increase in wages, also means the increase in state and local taxes for both the employer and the employee. In my opinion, if they really wish to help the low income worker, reduce the tax burden which in turn will allow employers to hire more workers, which will generate more tax revenue in the long run.
5 comments:
I agree with Robin. Until thye stop giving the tax breaks to the large corps., a wage increase will not help the working people. Is this another example of being 'bush-wacked'?
Democrats really don't care about the minimum wage - their strategy is more insidious - and the reason unions wanted this to pass.
Union contracts are triggered off the minimum wages set forth by governments (Fed. and state). Now, unions - especially those infested in our community services - are now empowered to renegotiate all of their contracts where wages are concerned.
Democrats are put into power by the Union dollar, and everything a Democrat candidate will vote on WILL be in the best interest of those that hold their puppet strings - the union bosses.
Didn't the union used to be a good thing for the people? When did all the corruption take place?
This is a move to further make US Jobs to move overseas. We can no longer compete with the third world and this makes it even harder to compete. So instead of producing goods ourselves we buy from overseas. Weakening the US Economy and start a recession if not depression.
In the 30's it was forced high salaries that cause a recession to become a depression. Here Democrats want to destroy our economy and they know that it will make more people dependent on Governement services and when the depression hits they can do more social programs and raise taxes to pay for them. Instead of innovation it will be slavery to the government ie. Socialism.
anon-this logic doesn't make a lot of sense to me. I don't think most of the minimum wage jobs are ones that can be moved overseas. I also don't think that the rest of the country catching up to Oregon and California min. wage as a conspiracy by the Dems. $7.50 could hardly be called high wages. Low wages are what causes us to by foreign goods because it's all we can afford. This in turn hurts local production. The very companies that insist they can't compete with globalism usually manage to pay their execs. millions of dollars in bonus and their stocks go up with every layoff or plant closure. Billions are being invested overseas by large companies and our own government in order to manufacture and deliver these foreign goods and tax advantage are offered to those who pull out of the U.S. Add to that the encouraged mass invasion of low skilled labor and an unprecidented effort to increase the high skilled foreign labor with increases of H-1b visas we have an unsustainable assault on the entire U.S. workforce. This is hardly a plot of the Dems. alone. The Reps. are the ones that have been in charge for 10 years and have done nothing to change this trend, they in fact have blocked every attempt to curb immigration or change any of the current trade or tax laws that make this a done deal.
We can't turn this situation around until we stop focusing on Dem and Rep label and unite against the Globalists on both sides that would sell out every asset this country has in order to increase their own portfolio. The North American Union can have only one outcome. We can't afford to bring the standard of living of everyone in the world to our level, we can only lower ours to close to what they have. The prime objective of the globalists is to have every worker compete with the poorest of the poor for a job. To paraphase Jack Welsh, "the ideal factory would be built on a barge" so it could be hauled around the world to low-wage areas, where it could operate without labor rules, environmental protections or other standards. He was the highly tauted CEO of General Electric and hardly a liberal icon.
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