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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (785951)5/22/2014 1:54:18 PM
From: i-node  Read Replies (1) of 1583002
 
>> Personally, I don't think an increase in the minimum wage to something like $9.50/hour will have much of a negative effect,

Not much, but some 100,000s of jobs would likely be lost immediately that might otherwise be delayed, and that could be important if you're in that group of people.

The left's argument is, "Look how many more people would be helped!"

What they don't seem to comprehend is that you have a few hundred thousand who lose their jobs entirely, while several million are "helped" temporarily, but only by a minuscule amount.

If you're now making 7.50/hour and get a raise to 9.50/hour, you take home an extra $65 or so a week. But at the same time, you've got all these people who lose their jobs and go from $250/week to zero, and their hope for ever learning a working skill that will get them out of the hole they're in.

It is pretty much an even money trade by the time you consider price increases that go along with it. A total waste of regulation.
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