“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving subsidise it” -Ronald Reagan
Feb 25 -1836 – Samuel Colt received a patent for a “revolving gun”.
Feb 25 -1933 – The first aircraft carrier, Ranger, was launched.
Feb 25 -1972 – Germany gave a $5 million ransom to Arab terrorist who had hijacked a jumbo jet.
February 25, 2013
Good Evening Thinkers,
Much has been said about minimum wage in the previous weeks following the President’s State of the Union address. The proposal he announced will aim to raise minimum earnings federally from $7.25 to $9.00 per hour. Today in real time, the principle of a base pay is a touchy issue, but it shouldn’t be. In fact, minimum wage might not be necessary after all.
It sucks to work, we all can relate. But working at a minimum rate; That’s even worse. I know this because I basically make it.
I’ve been trying to get a job for a year now. Finally 3 months ago I was fortunate enough to finally get something. I work late nights from 11pm to 4am sometimes later… Pretty glamorous huh?
And these are basic entry level positions I’m talking about, it’s not like I’m trying to become a doctor. So here’s the point, people who own small businesses don’t want to hire—they can’t afford it! If you want to get a glimpse of how well the economy is doing just look at that.
Some 70 percent of jobs come from small businesses and few would even argue that it’s up to 90. So how could the solution be to raise the minimum wage? To look out for the workers right? But it only hurts us. When a worker doesn’t have skill they’re not worth the $7.25 that it takes to hire them—Especially in a recession— so instead, the business owner simply decides not to hire.
The result is complaining… Everyone’s always complaining these days that they can’t get a job. Yet little do we know, the base pay laws which are supposed to be our shield from unfairness, are instead nipping us in the heels. I would much rather work for 5 dollars or even 4 than not work at all, you don’t even take home a penny when you’re unemployed! Now that real minimum wage.
Here’s something you probably don’t know: Prior to 1912, there were no official minimum wage laws in the United States. However, the term “Unemployed” was also nonexistent because everyone could find work. And of course not all work was equal, but that’s just a hard true fact of life.
This account is based on common sense and logic. I haven’t even begun to bore you with the economic side of the argument which leads directly to inflation. Hopefully you look at this issue a bit differently now, I know I do. And it takes a lot for me to say that since I am the one who it will affect most. Sometimes we need to keep it real and be honest.
The Real Times
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