Minimum Wage - the fallout!

[BReeves]

And you, yukonjack, and every other retiree who has earned their social security get this from the .gov:
Cost-of-Living Adjustment (COLA) Information for 2016

With consumer prices down over the past year, monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 65 million Americans will not automatically increase in 2016.

https://www.socialsecurity.gov/news/cola/

The pulled the same crap two years in a row couple years ago, what BS.

 

[Defnestor]

And people on disability that honestly can't work.
Caught a snippet today on the news that congress is talking cutting SS payments in order to get a budget bill pass before the election.
I'll have to see if I can find any supporting info.

Not to mention the people on welfare, EBT, and section 8. As businesses trim their employees to the bare minimum to operate, the percentage of the population without income will increase, along with the price of ... well, everything.

 

[RugersGR8]

http://www.breitbart.com/big-government/2016/02/03/gov-brown-abandons-15-minimum-wage-proposal/
Oregon Governor Abandons $15+ Minimum Wage
by Chriss W. Street 3 Feb 2016 Newport Beach, CA

 

[tRidiot]

Shocking.

Although they still want to raise it way too high, just slower.

 

[Sanford]

From the Oregon article:

A November report by the Manhattan Institute, “Counterproductive: The Employment and Income Effects of Raising America’s Minimum Wage to $12 and to $15 per Hour,” concludes that raising minimum wages is likely to result in adverse consequences that would lower total national income levels.

“The earnings gained for those who would keep their jobs would be outweighed by the earnings lost by those who would become jobless,” the report detailed. “As a result, the net income gains tend to be smaller or more negative when using the annual earnings approach than when using the wage approach.”

Link is to a PDF, so can't post directly.

 

[MaddSkillz]

From the Oregon article:



Link is to a PDF, so can't post directly.

It's all speculation... What isn't speculation is that people earning minimum wage aren't earning a comfortable living.

 

[Sanford]

It's all speculation... What isn't speculation is that people earning minimum wage aren't earning a comfortable living.

In that context, it's also speculation that raising the minimum wage would result in them earning a more comfortable living.

 

[MaddSkillz]

In that context, it's also speculation that raising the minimum wage would result in them earning a more comfortable living.

So, let's try it and see. I think people are important... Moreso than cheap products and food (granted I don't think those will be affected).

 

[Sanford]

So, let's try it and see. I think people are important... Moreso than cheap products and food (granted I don't think those will be affected).

Then you should be highly sensitive to what happens to the quality of life of seniors and others on fixed incomes when the minimum wage more than doubles and their income doesn't.

 

[MaddSkillz]

Then you should be highly sensitive to what happens to the quality of life of seniors and others on fixed incomes when the minimum wage more than doubles and their income doesn't.

I certainly am. There's a lot of fixing that needs to go around. Minimum wage is one of many.