Check out the ABSURD tweet Barack sent out:
I can only conclude the man has been sniffing unicorn farts (or dipping into blow again), because there is no sense whatsoever in his assumption that an increase in minimum wage will lead to increases in the Gross Domestic Product or jobs.
Common sense tells us the exact opposite.
Let’s say that my business can currently afford 10 workers at $7 per hour. If the minimum wage is increased to $10 per hour, I can now only afford 7 workers.
RESULT: Increasing minimum wage > Loss of jobs
My now-seven workers can’t produce as much, so I have to raise my prices just to stay in business. These price increases happen everywhere, because the minimum wage increase happens everywhere.
RESULT: Increasing minimum wage > Inflation
Higher prices everywhere mean the new minimum wage loses its buying power.
RESULT: Those who got higher wages lose the benefit of them.
Historical evidence proves that increasing minimum wage damages the jobs market.
I compared the seven most recent increases in minimum wage with percent employed. In NO case did it BOOST jobs as Obama claims in his absurd tweet.
Where the economy was slow, the minimum wage increase was followed by job losses.
Where the economy was growing, the minimum wage increase was followed by slowing or stalling of growth.
Not only is raising minimum wage bad for the economy, but it’s also bad for the people that Democrats claim it will help. Unfortunately, good intentions do not economic realities make.
Multiple studies prove that increasing minimum wage tends to eliminate jobs for the youngest and least skilled workers. Studies also find that higher minimum wages have no impact on poverty rates.
There’s one other reason I can think of to NOT raise the minimum wage now.
At $7.25, it is higher than the historical average of $6.60 (in inflation-adjusted 2013 dollars).
In the graph above, the peaks are where the feds increased minimum wage. Note that each peak is followed by a sharp downward slope. This represents the rapid loss of buying power the dollars have because of the inflation that an increase in minimum wage always causes.
Sources:
- http://www.heritage.org/research/testimony/2013/06/what-is-minimum-wage-its-history-and-effects-on-the-economy
- http://www.forbes.com/sites/realspin/2013/04/17/the-record-is-clear-minimum-wage-hikes-destroy-jobs/
- http://www.dol.gov/whd/minwage/chart.htm
- http://data.bls.gov/timeseries/LNS12300000
H/t: itooktheredpill
polination.blog 
How many of you saw that story that was going around recently by the woman who claimed to be living in poverty, trying to explain to the world what it was like to be poor, and what it was like to live every day with the knowledge that your situation was never going to improve, ever? Turns out it was all a bunch of lies.
(You can see the original story here.)
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Heritage report linked above breaks down the population who actually earn minimum wage. A tiny proportion (I think it was 4%) are single parents who are sole wage-earners. The great majority are NOT earning primary support for their household; most are students or older folks who want to work part-time.
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What a con artist that one is. Or maybe I should say, what a con artist that one is NOT, since she got outed. Thankfully. I resent people who make it harder for those truly in need to get help from others.
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I hope all the people who felt sorry for her and sent her money feel like total idiots.
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Great post, Chirssy!
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😆
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When I was falling asleep last night, I was pondering one aspect of this minimum wage increase cascade that I didn’t include, which is the negative impact it has on people struggling to make ends meet on fixed incomes. If the Dems gave a crap about them, as they claim, they’d say no way to increasing minimum wage, because it always sets off inflation, which leaves the fixed income (mostly elderly) with LESS BUYING POWER.
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I created a Facebook vs of this, if you want to pass it around there.
https://www.facebook.com/christine.bravomom/media_set?set=a.271715539643328.1073741866.100004146523282&type=1
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I wrote this on my comment when I posted it … feel free to crib it.
I hope you will take time to read through this little album I made. It provides graphic, historical evidence for why increasing minimum wage is most decidedly NOT the compassionate choice.
Increasing minimum wage has historically thrown people out of work and destroyed the very jobs that the youngest and least skilled need the most.
It also sets off inflation, which immediately harms those on fixed incomes, who tend to be the most vulnerable elderly and disabled. Plus, the inflation eventually catches up with the new minimum wage and eliminates its buying power advantage.
Increasing minimum wage provides a short term benefit to a handful, while causing devastating job losses and income crunching for a great many. As a Christian, I must therefore OPPOSE the current effort to raise minimum wage, no matter how much supporters bleat at me about how I am greedy and don’t care blah blah blah.
The fact is that I DO care. In fact, I care enough to do my own research to find out for myself whether Democrats or Republicans are telling the truth about this issue. Hint: It isn’t the Democrats.
I spent all day researching this data. I’ve posted the links to my original sources in the comment areas. The data I used for the graphs all came from government web sites that you can visit for yourself. The only thing I did was overlay the dates of minimum wage increases on to percent employment graphs so I could see for myself what happened AFTER. The answer is clear: JOBS DISAPPEAR.
I sincerely hope you will at least skim the material and take some time to pray about it. Thanks.
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Scroll down in this article to “Mayhem on Main Street” http://www.woolworthsmuseum.co.uk/1930s-daylife.htm Higher wages always leads to finding a way for the business to operate within the existing budget, as Woolworth did. Strikers won higher wages. Ironically the unions still tout this history as a coup for unions; for the worker. Of course the impact on the economy is beyond them as it is only about winning the fight; getting their way. Notice the use of the media telling lies to work up the masses for communism (which is the ideology of unions) about the “heiress” of the Woolworth fortune who was no longer even a part of the company. http://www.woolworthsmuseum.co.uk/1930s-daylife.htm
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Oops, posting the same link twice. The second one, the lib view is here: http://www.dailykos.com/story/2011/11/23/1039500/-Occupy-Woolworth-s-A-Labor-Story-from-the-Great-Depression
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https://twitter.com/ITTRP/status/410795580936712193
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Full post here: http://itooktheredpill.wordpress.com/2013/12/11/unemployment-graph-when-participation-rate-held-constant/
Here’s an excerpt:
I ran all the numbers from January 1995 to present and computed the effect on the other reported unemployment number if the Civilian Labor Force Participation Rate had been a constant 67.3%. The results are eye-opening:
By removing Civilian Labor Force Participation Rate as a variable, the graph of Unemployment for January 1995 to present now looks like the inverse of Employment for that time period:
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