President Obama, in his State of the Union address tonight, proposed raising the federal minimum wage to $9 an hour.
The federal minimum wage currently is $7.25 an hour.
The Alaska minimum wage is somewhat higher at $7.75 an hour.
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28 comments:
Yippee!!!.....but it should be $12.00.
in australia they wouldn't get out of bed for under 20/hr
That'll bring those manufacturing jobs back to the states!
more money for the feds from payroll taxes and more s.s. contributions.
good idea except causing more inflation.
$9.00 an hour is only $360/wk; $1440/mo.
No wonder our minimum wage work force are young people.
Poor families can't survive on that amount of money these days.
Higher minimum wage will only lead to more inflation. Pet of economics 101. In fact I say abolish minimum wage, don't like the wage, negotiate or leave it. The beauty of the free market system, either someone will do it or the wage will naturally go higher...
This will cause less employment and more capital investment.
Where are the Illegals when we need them.
Funny thing is, $7.25 is about what the ex-vessel Bristol Bay sockeye is sold for now, but $9.00 a fish is closer to what is needed to keep the operation running. Work harda nigga, boss man needs mo money.
If people know what they are doing they can make that on welfare.
Econ 102 says that paying people more allows them to spend more - and no one spends more of their income on consumer goods (we are, after all, a consumer-based economy) than those who make the least.
P.S. if you never got past Econ 101 you may want to refrain from ever using the word "economics" ever again, it makes you look stupid.
Ouch, teacha be slappin' down da kid.
It is a shame when there are people making more on welfare and unemployment(also welfare) then others make for working a 40 hour week. I agree that those that did not get past econ 101 should not post on economics.
My parents taught me to do well in school, study hard & get good grades. To be responsible and always look for ways to better yourself ie. college, trade schools or miltary. If people made poor choices throughout their life that put them in a positon for minimum wage jobs for their future. Then I fail to see why this is my problem or why I should care. Keep the minimum wage as is.
I loved it when John Boehner called President Obama Santa Claus, that was priceless.
Listen carefully, he said Satan Clause.
Wow I bet you spend most of your day smelling your own farts and talking about how great you are for having a good job. Do you then take your hard earned money to Walmart and ignore the fact that workers there aren't payed enough to live? If you can't bring yourself to care about others imagine how all those Walmart workers have to be on welfare payed for by your tax dollars!
So yes let's keep minimum wage where it is because dear god if the price on my lucky charms goes up by a penny just so some lazy uneducated single mom working two jobs doesn't have to be on welfare I'm going to poop my pants.
We don't have a Walmart. You fail to realize that no matter what the minimum wage is, the prices on all goods & services will rise accordingly. Leaving your minimum wage earner with the same buying power.
Two cents on my Lucky Charms won't matter to me, but the increase just hit the minimum wage earner harder in regards to percentage of disposable income. Thus they are still on welfare.
This is a simple concept-grasp it.
Also, an increase of $1.75 in the minimum wage is going to cause all prices to rise a whole lot more than a few cents...that was cost accounting 200
yep makes sense to me.
Adam Carolla says it best @ the dailycaller today online talking about this very topic
Uncle Chuck is not gonna like this. Plesha! call them somfsabeaches now!
On goody you know what inflation is! Let's use our firm grasp of economics class and look at some figures and draw some conclusions.
Adjusted for inflation(using the big words) the minimum wage was $10.56 in 1968.
The total earnings of the 21 million people on minimum wage today only accounts for 1.6% of the entire economy.
Raising the minimum wage to $9 per hour would increase the workers pay by 11.2%.
Are you saying raising the minimum wage 11% will cause a 11% increase in prices? At this time of night my mind is far to clogged with hops and bong resin to figure that out.
As great as trickle down economics has been working it sure would be nice to try trickle up.
The math stated above is incorrect, $1.75 increase is 19.4% not 11 as you claim. At least you are honest as to why you can't think this through or perform basic math...go back to sleep little sheep keep drinking the kool aid.
Keep in mind that the employer pays the employee $9 plus federal payroll taxes as well as workers comp insurance is based on payroll wages that goes up the last thing that is very muddled currenly is the ACA also known as Obamacare. This single piece of legislation will hurt the minimum wage workforce the hardest. Employers are going to limit hours to 28 hrs per week if you are paying attention to current events you would know this. Go ahead and spew "your feel good thoughts" while ignoring reality. The only way out of this mess is a vibrant economy with lots of jobs where people have options to seek higher paying jobs. Side note, minimum wage jobs & welfare should be temporary not a career.
It's about time the min wage increases. It costs like #*!! living in Bush Alaska. People can't ever get ahead - no jobs, no future, generation after generation, and here our state is rolling in money.
Ohjeebus... Let's not get sidetracked. The reality is minimum wage jobs and welfare are not temporary for many people in this country.
The minimum wage isn't about the labor market. It's about setting a floor on the labor market. People will still have the option of seeking higher paying jobs in a vibrant economy.
Hmmm this bloody math thing. Even considering pay roll tax, workers comp. etc. I don't think your claim that a increase in minimum wage will cause a equal amount of inflation holds water. The minimum wage workforce just isn't a large enough part of the economy.
Funny how people complain about every one on welfare but don't want to pay them enough not to be.
We are at a level of unemployment that's at a historical high - supply < demand and raising the minimum wage may exacerbate this. And this will not solve the welfare problem - some min. wage employees will probably be let go (and end up on welfare) and people currently looking for employment will not get hired (and stay on welfare).
Even if min. wage doesn't affect demand for labor, it can increase the high-school dropout rate.
Either way I don't see this as a real solution to the problems in this country.
Of course if implemented it will provide direct benefits to those currently earning min. wage - but only in the short term. It will affect labor demand in the long run.
It'll be good for inflation, which will be good for the country. Onward and upward!!! Save us Obi Won Kabamy, you're our only HOPE.
If you increse wages in the fishing industry where do you think the money will come from? Tenders,shipping,fuel,electricity FISH PRICE?
Lower ex-vessel price... fishermen will pay
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