|$7.25 hr. I'm In The Money|
Good intentions motivate most Americans in their support for minimum wage laws, but for compassionate public policy, one should examine the laws' effect. That's seen by putting oneself in the place of an employer and asking, "If I must pay $7.25 an hour to no matter whom I hire, does it pay me to hire a worker who's so unfortunate as to have skills that enable him to produce, say, only $4 worth of value an hour?" Most employers would view hiring such a worker as a losing economic proposition; therefore, a minimum wage law discriminates against low-skilled workers by reducing employment opportunity.
|Daniel Patrick Moynihan|
So consider for one moment the impack the increased numbers of overall unemployment has on those living under the poverty line. The withering recession pushed the number of Americans who are living in poverty to a 51-year high in 2010 and left a record 54.7 million people without health insurance last year.
Food stamp benefits is dulded out to more than 47.3 million people, also another record the current administration has achived.
Most of that decline stemmed from a loss in the percentage of people who have private and job-based coverage. The number of people with either fell from 201 million in 2008 to 140.5 million last year. The percentage with job-based coverage fell from 58.5 percent in 2008 to 51.8 percent last year, the lowest coverage rate since 1987.Massive job losses and work reductions for hourly employees led the number of uninsured Americans to rise from 46.3 million people in 2008 to 59.7 million in 2010. The number of Americans who have health coverage decreased - from 255 million in 2008 to 248.6 million in 2010 - for the first time since the data began to be measured in 1987.
|What Else Can I Say?|