Mitt Romney backs minimum wage hike

[zippy23]

Another reason he lost, he aint no conservative, no wonder millions of republicans stayed home during the election. I found out today that most union contracts are based upon the minimum wage, meaning they get paid a certain percentage higher than the minimum wage, no wonder the liberals want it so bad, regardless of how it hurts the country.

Mitt Romney wants to raise the minimum wage- MSN Money

 

[Dead Duck]

Pffft - Romney.

Boy I'm sure glad Obama got elected then this Romney dude. We could have been in some REAL trouble.......








** I couldn't find enough purple on the internet for this post.

 

[DarkLight]

** I couldn't find enough purple on the internet for this post.

I don't get it...why would u need purple for your statement....

 

[rambone]

Romney promoted minimum wage hikes in 2002, 2008, 2012... and beyond.

Mitt Romney: Raise the Minumum Wage automatically with inflation

 

[ATOMonkey]

Minimum wage = minimum cost

It's a good idea to raise minimum wage if you don't like poor people.

 

[MisterChester]

Minimum wage = minimum cost

It's a good idea to raise minimum wage if you don't like poor people.

If the net gain is bigger then the minimum cost doesn't matter.

 

[ATOMonkey]

If the net gain is bigger then the minimum cost doesn't matter.

Ok, so make minimum wage $1,000,000 a year. That should fix everything.

 

[bobzilla]

Is it time for a minimum wage increase to keep up with inflation? yes. Does it need to be $15/hr? No. Everything has gone up in price except wages. That's inflation. time to up MW to keep up. IMO, bump to $8.50 is reasonable.

 

[ATOMonkey]

Riddle me this economists of INGO. Which is better? Lower prices and lower wages, or higher prices and higher wages?

 

[Robert8252]

Anything more than adjusting for inflation hurts me, the middle class. Burger king will pay their employees more, milk and bread prices will go up, and I'll still make the same and have to pay more.

 

[steveh_131]

Riddle me this economists of INGO. Which is better? Lower prices and lower wages, or higher prices and higher wages?

I vote for a vicious cycle where we hike minimum wage, which causes inflation, then hike it again to compensate for that inflation, which causes inflation, then hike it again to compensate for that inflation...


you get the idea.

 

[findingZzero]

Higher wages and lower prices. I'm a stoopid liberal so this is possible.....ask me how. Don't expect a cogent* answer.

* who says cogent? (att: printcraft)

 

[PistolBob]

It's like daylight savings time

 

[ATOMonkey]

It's like daylight savings time

It's actually worse. At least daylight savings time just picks up everything and moves it.

Minimum wage just moves up the floor with no regard for the ceiling.

 

[Light]

These minimum wage hikes will eventually hit a ceiling. Then we will be like Germany after WWI. Something will come to a head eventually.

 

[ModernGunner]

Notably, if we adjust for inflation based on what minimum wage was in, say 1975 when I bought my first vehicle, 1975 gasoline prices, etc., in 2014 minimum wage should already be $15 / hr. That would be just to stay equivalent to 1975.

This intentional failure of business owners to keep minimum wage on pace with inflation most assuredly has benefited the business owners for 40 years. Even if it was raised to $15 / hr. tomorrow, the business owners would still be ahead, having 4 decades of wage savings.

So, raise it to $15 / hr. now, where it should be, and raise other pay rates a like amount to where they should be, as well.

 

[femurphy77]

That's right folks, today and today only; WE'LL BUY YOUR VOTE!!!!!!!!!!!!!

 

[Lucas156]

The market should dictate wages. What if I make 15$ an hour based on my work ethic? If you bring it up to 15 you are penalizing people like me. You think my employer will raise my salary if minimum wage is raised? I don't think so.

 

[MisterChester]

Riddle me this economists of INGO. Which is better? Lower prices and lower wages, or higher prices and higher wages?

If the purchasing power of the dollar is relatively constant, that doesn't matter either.

 

[MisterChester]

I vote for a vicious cycle where we hike minimum wage, which causes inflation, then hike it again to compensate for that inflation, which causes inflation, then hike it again to compensate for that inflation...


you get the idea.

The cycle is going to continue unless the dollar jumps in value substantially. That's very likely not going to happen any time soon.