Socialist President Pinocchio Obama is out on the campaign trail again pushing Congress to raise the federal minimum wage to $10.10 an hour. The Congressional Budget Office conservatively predicts that this increase will cost 500,000 jobs so it is a job killer. So, while theoretically about 16 million, mostly young people, will benefit from a raise in the minimum wage, it will just be the redistribution of income from the very poor, that will lose their jobs, to the working poor. How can that be a good thing.
The current federal minimum wage is $7.25 an hour. States cannot enact a minimum wage that is lower, but many cities and states have enacted minimum wages that are more, which is appropriate. This should be a state issue because the cost of living in the 50 states varies dramatically. And, it would still be best that the minimum wage, what ever it is, should be two tier; one for kids under 18, teenagers, and one for adults to provide for first jobs for kids, particularly in our inner cities.
Most important, if the minimum wage gets too high, it will encourage companies to automate work, or push more jobs overseas causing further job loss in the US. We will end up with even more people on Welfare and Food Stamps; an Obama objective. But this Obama propaganda has nothing to do with the minimum wage. This fight is actually about union labor wages. Raising the federal minimum wage will bring pressure to raise union wages. This is the real fight that is taking place.
Obama's minimum wage propaganda is just more Obama lies and baloney. Ultimately, the free market should determine wages based on supply and demand and the skills of a worker. Anything else distorts the economy and will ultimately hurt the very people Socialists are presumably trying to help; just like all Socialist Schemes.
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