Re: Minimum Wage Led to Job Loss...Just as Predicted

On May 2, 1:04=A0pm, c...@[EMAIL PROTECTED]
 (Cary Kittrell) wrote:
> In article
<cf9b1633-f1fe-4320-bce3-1b0123b37...@[EMAIL PROTECTED]
> The_Carpathia <writing...@[EMAIL PROTECTED]
> writes:
>
> > When the minimum wage was being increased, a whole host of people,
> > including myself, said that this would lead to unemployment, as
> > employers were faced with the same human resources budget to pay out
> > at a higher rate. =A0It was simple math, but a lot of liberals said
that=

> > it wouldn't happen. =A0They suggested that paying a higher minimum
wage
> > would not lead to less jobs (though they couldn't explain how that
> > would keep from happening).
>
> > Well, now, it's happening....
> >http://news.yahoo.com/s/ap/20080502/ap_on_bi_go_ec_fi/economy
>
> Gee, I had not been aware that raising the minimum wage led to
> the collapse of the economy. =A0Silly me, I thought it had something
> to do with the soft dollar, the collapse of the mortgage industry,
> the demise of a number a venerable financial institutions, and
> the resultant drying up of credit.
>
> Or as your article puts it:
>
> =A0 =A0 Businesses are handing out pink slips as they cope with an
economy=

> =A0 =A0 that is teetering on the edge of a recession, or possibly in one
> =A0 =A0 already. A severe housing slump, harder-to-get credit and
financia=
l
> =A0 =A0 turmoil have forced people and businesses to be more cautious in
t=
heir
> =A0 =A0 spending. And that has hurt the economy.
>
> Are you seriously arguing that if we cut the minimum wage back
> to previous levels, the nearly eight million unemployed Americans
> would <POOF!> get their jobs back, just like that?
>
> I don't think so.
>
> -- cary


I think he's saying that higher minimum wages will not help get jobs
back. Makes sense to me. How will higher wages get jobs back in your
world?

In a recession one of the first casualties is the restaurant business
because people will tend to pay for gas at the expense of eating out.
Isn't that what you would do? How would you reduce your cost of living
when that cost goes up?