For over 50 years, economists who have studied the minimum wag law have found this: every time the minimum wage is hiked by law, black teenage unemployment increases, especially for boys.
This fact never dampens the enthusiasm of Democrats in Congress.They push forward, always trying to raise the minimum wage.
This time, they want to hike it to $10 an hour.
This is being promoted by blacks — Rep. John Conyers, Jr. (D-Mich.), Rep. Jesse Jackson, Jr. (D-Ill.) — and whites: Rep. Dennis Kucinich (D-Ohio), lifetime promoter Ralph Nader, and the president of Public Citizen, Robert Weissman. The bill is called “Catching Up To 1968 Act of 2012.” With a snappy name like this, how can it lose?
Easy. The House is controlled by Republicans.
They promoters say the minimum wage has not kept pace with inflation.
This is why there are at least a few jobs for teenage black boys.
The minimum wage is $7.25 an hour.
The congressmen said that at $10 an hour, the minimum wage would still be below 1968 levels when adjusted for inflation.
I suppose it would also be below 1965.
“This legislation is long-overdue and sorely needed,” said Conyers. “More than 30 million Americans would see their wages increased, which would provide an immediate boost to the economy.”
He neglected to mention why employers would continue to keep all $30 million on their payrolls in light of a 38% increase in wages, plus Social Security taxes.
Two thirds of the American public — including a majority of Republicans — supported raising the minimum wage in a October 2010 poll by the Public Religion Research Institute.
This indicates that two-thirds of the American public does not understand basic economics.
But we knew that before the poll was taken.
In 2008, candidate Barack Obama promised to raise the minimum wage to $9.50 an hour by 2011. He didn’t.
Republican Mitt Romney has supported the idea of adjusting the minimum wage to keep up with inflation.
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