Timing is bad for a minimum wage increase

Timing is bad for a minimum wage increase

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guy is moron  read for yourself this fool opposes cost of living for minimum wage

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from article


If a minimum-wage initiative makes it on the November ballot, Missourians will have to choose between economics and emotion.

Emotion tells them that a higher minimum wage improves the lot of downtrodden workers. The late Sen. Edward Kennedy called it “one of the best anti-poverty programs we have.”

Economics tells us that Kennedy was wrong. When you raise the price of something, whether it's umbrellas or unskilled labor, people buy less of it. When employers see a higher hourly wage, they figuring out ways to use fewer hours of labor. That's bound to hurt, not help, low-income workers.
Missouri Jobs with Justice, though, seems to think poor workers are immune to the laws of supply and demand. It's among the backers of an ballot initiative that seeks to raise Missouri's minimum wage by $1 an hour to $8.25. The petition was submitted this week, and the Secretary of State's office is checking to see if it has enough valid signatures.

David Neumark, a leading expert on the economics of the minimum wage, says that while some workers will be happy to get raises, others will be laid off, have their hours reduced, or simply be unable to find jobs.

Read more: http://www.stltoday.com/business/columns/david-nicklaus/timing-is-bad-for-a-minimum-wage-increase/article_985fd70a-9ae4-11e1-95ae-001a4bcf6878.html#ixzz1v3Up91j6