I’m against a Government-mandated minimum wage. The agreement between two people about the remuneration for one’s talents and time and that of the person paying that remuneration should remain between those two people.
Not between politicians and the bureaucrats implementing the politician’s often outdated and out of touch of what is a “fair wage.”
What someone accepts for working for another often has nothing to do with an hourly wage or yearly salary. Remuneration is the entire package of payments and “benefits” (the latter either being formalized or an informal agreement).
During my last employment, I HIGHLY valued being able to work from home and gladly traded some wage/benefits for that instead of moving on to a higher salary but having to go into an office every day. Others feel similarly about other things.
So watch this about minimum wage and why it makes no sense except to those people whose motive is to use the Force of Government in order to force their sense of “fairness” onto others.
And as it turns out, the Marketplace has already made rapid changes in hourly wages such that many entities are approaching much higher wages than what the Federal minimum sets -> $7.25. In many cases, twice that or even more based on the Marketplace reacting to the low labor supply (re: from both the distortion of the WuFlu pandemic and Government distorting it with welfare payments well above what was necessary (the unemployment kickers that made it more profitable to stay home than to work).
This is probably driving those Progressives / Socialists and Unionistas (but I repeat myself) nuts because the MarketPlace has made their screeds irrelevant.
Now, don’t get me started about the idea that Government, having seen what it has wrought with those kickers, now sees itself with a new and novel tool to manipulate wages in the direction it desires.
And don’t forget, by letting lots of illegal aliens flow over the border, there’s your “contra-tool” that can be used to push wages lower.
And, of course, legal Americans out of work as well.
(H/T: Cafe Hayek)