Yay! Congressional Dems doing something right!

[najeena]

In Ireland ( I believe that's the place ) the minimum wage is near equivalent to ten of our dollars, and their economy is soaring. Go figure.

 

[INDY500]

The information is all 2004 Dept of labor. Here is the link again to some of the numbers. http://www.bls.gov/cps/minwage2004tbls.htm

I was suprised only 3% of workers make $5.15 or less (no, the Dept of Labor does not include other benefits) as well. Many states have higher M.W. rates than the Federal rate, that's one reason. The other most likely being that the current M.W. appears to be below market equilibium for most jobs. In other words, competition for workers in a growing economy, not legislation, sent wages up. Economics 101

Unfortunately, neither laudable intentions nor widespread support among FYM posters can alter one simple fact: although minimum wage laws can set wages, they cannot guarantee jobs. Businesses are not charities; they hire and keep workers only when that worker creates more revenue than they cost in wages and compensation. The reduction in employment that results from artificially high increases in the minimum wage, which we know is concentrated among young or "low-skill" workers, is the cruel "dark side" of such legislation. The side that, unfortunately, undermines the very process of on-the-job learning that eventually leads to higher wages.

So the solution to a nonexistent problem might actually create a problem. Sorry, I don't see that as "doing something right!"
But, to quote Professor Farnsworth, "Good news everyone." It's an election year and Republicans can pander just as well as Democrats.

 

[nbcrusader]

which is precisely the role of the government.

Good God, I hope not. “Market forces” represent the collective wisdom of the masses. I would prefer choices made by the people, instead of an elitist few who want to use government policy as instruments for their own social experiments.

And while I personally would pay wages at a rate higher than the current federal minimum, the belief that raising the minimum wage alone is any sort of solution misses the broader economic picture (though it makes good political theater, as it has for decades). In a global economy, job functions can be shifted to locations where costs of labor (wages plus other government mandated costs) are cheaper, or filled with imported labor (legal or illegal – a factor to consider when speaking of immigration policy).

Whether or not members of Congress deserve any form of pay raise is a separate question, and one that is not honestly addressed when tied to another issue. But in the quid pro quo world of politics, I doubt we will see an honest discussion on either issue.

 

[martha]

Good God, I hope not. “Market forces” represent the collective wisdom of the masses. I would prefer choices made by the people, instead of an elitist few who want to use government policy as instruments for their own social experiments.

Yep, those pesky anti-trust laws, those worse anti-discrimination laws. They really get in the way of making an honest buck, now don't they.

Remember that government is also there to make sure that your precious private enterprise doesn't completely screw-over the rest of us.