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The Right Minimum
Wage: $0.00

New York Times, by Staff

Original Article

Posted By:kennedylaw, 2/3/2014 11:37:31 AM

The Federal minimum wage has been frozen at $3.35 an hour for six years. In some states, it now compares unfavorably even with welfare benefits available without working. It´s no wonder then that Edward Kennedy, the new chairman of the Senate Labor Committee, is being pressed by organized labor to battle for an increase. No wonder, but still a mistake. Anyone working in America surely deserves a better living standard than can be managed on $3.35 an hour. But there´s a virtual consensus among economists that the minimum wage is an idea whose time has passed.

Comments:

This is an historic New York Times editorial that was published on January 14, 1987. Mark the date on your calendars. It was possibly the last time that the New York Times published an editorial that was correct.

      


Post Reply  

Reply 1 - Posted by: miceal, 2/3/2014 11:45:48 AM     (No. 9717476)

Just checked outside and believe it or not, a pig just flew over my house! Be still my beating heart but without reading this article, the "headline" is breathtaking, and ABSOLUTELY spot on! Wait, is it April 1st already....?

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Reply 2 - Posted by: JediJerry, 2/3/2014 12:26:46 PM     (No. 9717551)

Factoring inflation and other cost of living increases thanks to government regulations, the minimum wage today should be $33.50 an hour.

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Reply 3 - Posted by: kennedylaw, 2/3/2014 12:29:09 PM     (No. 9717554)

Nope. Factoring inflation and other cost of living increases the minimum wage should still be $0.00.

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Reply 4 - Posted by: Griller1, 2/3/2014 1:13:03 PM     (No. 9717636)

The NYT was still discussing wage supplements from the government, which would mean borrowing, or raising taxes to pay for it. Instead, people should have been working hard and looking for better paying jobs. Especially in the growing economy that was vastly improving by that time. Still, the minimum wage should be $0.00.

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Reply 5 - Posted by: chance_232, 2/3/2014 2:57:33 PM     (No. 9717810)

"If a higher minimum means fewer jobs, why does it remain on the agenda of some liberals?"

Answer: Because most people earning minimum wage are too stupid to understand basic economics are by definition LoFo voters and will vote for anyone that promises them more stuff and apears to care about them. And because all of the above is true, and its a simple fact that democrats cant get elected without a majority of bleeting morons, they will continue to promise more stuff.

And they can get away with this simply because the minimum wage voters cant connect the dots that a higher minimum wage has left them unemployeed. And to make sure that they never connect the dots, liberals and the press will run stories and publically claim that unemployement went up because of greedy fat cat corporations.

And NEXT week...... the NYTimes will run stories on how we need a higher minimum wage, as if this article never ran. They will, and I guarantee this, endorse a liberal for office because the republican is backed by fat cat CEO´s and doesnt care about the poor. They did after all endorse the current marxist occupying the Newy York kMayor´s mansion. They did endorse Obama and ran glowing articles and opinions about Elizabeth Warren et al.

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Reply 6 - Posted by: chance_232, 2/3/2014 3:02:21 PM     (No. 9717817)

I failed to mention the following......

Another reason that liberals continue to press for increasing the minimum wage is that many many UNION contracts are tied to the mnimum wage. Which means that if the minimum wage goesp by X percent, then so does the member pay scale.

I guaranee that most employees dont have that written into their HR rules.

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The Right Minimum
Wage: $0.00
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Posted By: kennedylaw- 2/3/2014 11:37:31 AM     Post Reply
The Federal minimum wage has been frozen at $3.35 an hour for six years. In some states, it now compares unfavorably even with welfare benefits available without working. It´s no wonder then that Edward Kennedy, the new chairman of the Senate Labor Committee, is being pressed by organized labor to battle for an increase. No wonder, but still a mistake. Anyone working in America surely deserves a better living standard than can be managed on $3.35 an hour. But there´s a virtual consensus among economists that the minimum wage is an idea whose time has passed.

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