In a few days on July 24, the program WRITTEN and WORSHIPPED by the Democrats ... MINIMUM WAGE...is scheduled for another increase. The minimum wage will increase from $6.55 per hour by 70 cents to $7.25 per hour. Minimum wage sounds like a good program, right? It has terribly negative (intended or unintended) economic consequences.
According to today's Wall St. Journal, (Monday, July 13, 2009 on page A12) economist David Neumark of the Univ. of Calif. at Irvine calculates that this minimum wage hike will kill "about 300,000 jobs for those between the ages of 16-24. Further, "Single working mothers would also be among those most hurt."
I am convinced that Democrats -- especially Obama -- do NOT want this economy to rebound. If they did, they would have instituted proven strategies such as tax reductions, selectively lowering certain regulations in various industries and other programs which stimulate the economy. Plus their Stimulus Package would have been directed much differently if "job creation" was the Democrats' primary goal.
If you are a small business owner, especially, do you have that extra 70 cents per hour to pay your entry level employees? That equates to about $1,456 per year based on a 2080 hour/year..not including any benefits.
As mentioned, the Democrat job destruction machine (which our Representative Congressman Jerry McNerney is a glowing example) is humming along.