So you still consider yourself to be some do gooder looking out for the little guy?
Of course, in being a do gooder, you'd have to support minimum wage increases. Right?
For the first time on record, senior citizens outnumber teens in the labor force as the Great Recession accentuates trends that make it harder for young people to find jobs and more likely for older workers to delay retirement.
This historic crossover is revealed in data compiled by Bloomberg News showing that 6.6 million people over age 65 worked or looked for work in the first six months of the year, versus 5.9 million 16- to 19-year-olds.
That analysis is based on federal records that started in 1948 when there were 4.4 million teens in the labor force compared with 2.9 million people over age 65.
Experts say that over the past decade older workers have tended to hang on to their paychecks longer, owing to sagging stock portfolios and falling home prices.
More.....Let me offer another theory. With the increase in the minimum wage, employers are looking for skill sets commensurate with the amount of pay they're doling out.
Teenagers come into the market place with practically no skills. As a result, each hike in the minimum wage makes a senior more valuable in comparison to teenagers.
Need more proof. Check out
this link with the monthly unemployment rate for teenagers. Boy, you sure see a nice correlation between the minimum wage hikes and
teenage unemployment.
What this all means in a macro dynamic is that children from families with business contacts get their kids jobs. Hence, a jump start on their competition in the job market. Just like compounding interest, that early jump means a wider disparity of wealth in later years.
Once again, if you are someone who believes in the necessity of minimum wages in our culture, tell me why we shouldn't make the minimum $20.00? What's economic rationale in not upping the figure?
Each time I read on some blog how "progressives" are smarter than conservatives, I laugh my ass off. If a "progressive" cannot even grasp the middle school concept of supply and demand, how could they possibly be smarter than your dumbest conservative.
2 comments:
Back before our time there used to be the master/apprentice system. The apprentice "payment" was learning a trade. Wages were $0. But for a few years of free labor one could attain skills for a lifetime.
When I was 16 I had to work my butt off at a minimum wage job. Looking back, the money I earned was pretty irrelevant. Here were the things I received that were a hundred times more valuable than wages:
- Appreciation for the value of a dollar.
- A sense of responsibility for getting to work on time.
- The need for being able to work with others.
- Satisfaction for producing quality results.
- A sense of accomplishment for winning that first raise (of $0.10/hr).
...and here's the main one...
- the realization that I could build on prior experience to achieve a better position.
I now make 30 times my original wage. But that would not have been achieved without that first job experience. A higher minimum wage back then would have certainly priced me out of the market for that very low skill job and likely damaged my career down the road.
How many millions of teenagers' budding careers are being snuffed out at this very moment by liberals and their misguided minimum wage?
Delaying the acquisition of essential life skills for millions of able-bodied young heathy American teenagers so they can sit, at home, bored all summer, playing video games on Playstations manufactured by, and imported from, their future competition?
"Now that's progressive!", as this blog would say.
Let's just raise minimum wage to $1,000,000/hr. That way, every American just works 1 hour and they are set for life.
Ludicrous? Well that's the logical end game for raising minimum wage. Now if you are a liberal that supports minimum wage, but thinks $1,000,000/hr. is too much? Then ask yourself why is it too much. Your answer will then tell you why $100/hr. is too much, or $10/hr.
Any minimum wage will price some people out of the job market. As a liberal, is taking the lowest skilled workers out of the job market a good thing? How can you, as a liberal, sleep at night putting millions of people out of work?
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