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President Obama made a proposal to raise the minimum wage money to $9 a hour and index it in line with inflation. A commission of $9.00 a hour is not in line with inflation. This proposal was instantly looked down upon by the top Republicans including Speaker John Boehner (R-OH) and Rep. Paul Ryan (R-WI), that claim this brand new wage money can kill jobs and harm tiny businesses. The Uniformed Commercial Code, U.C.C., in a nutshell, defines Money as: Any other form of payment recognized by the......Read More
As free-market economists I'm not much into minimum wage legislation, in fact I'm rather against them. However as I watch what's going on in China right now, with the protests and strikes from the labor at the overseas production firms which are in their own country, I see that something has to be done. In China you are not permitted to go on strike at a Chinese company, and even though there are problems, they are not publicized because the Chinese government doesn't want that in their......Read More
Placing a minimum wage that is high seems like a natural method to help lift families out of poverty. Minimum salary target individual workers with low wages, rather than families with low incomes. As a result, a large share of the greater income from salary flows to higher-income families. Raising the minimum wage has become a popular proposal to fight rising inequality and poverty in the USA. Since the last federal minimum wage increase in 2009 to $7.25 per hour, 23 states have increased their......Read More
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