October 20, 2014 at 8:29 pm Leave a comment

The Acton Institute made a good point on excessive minimum wage

“here’s something almost charming about people in American who champion socialism. Yes, their economic views are naive and destructive. And yes most people (though especially the poor) would be much worse off if their vision for “progress” was actually implemented. But it’s hard to be too concerned when they are, at heart, really just capitalists who like to play political dress up.

Consider one of their favorite causes, a $20 minimum wage. In their most recent party platform, the Freedom Socialist Party advocated for raising the minimum wage to $20 an hour. Naturally, you might assume that the Freedom Socialist Party would be a great place to work for since the minimum pay you’d received is $20 an hour, an annual salary of $40,000 per year. But that assumption would be based on their applying their socialist principles to themselves. In reality, of course, their wages are based on the tenets of free enterprise.”

However, the Acton Institute is probably going to tell you that there is no minimum wage. The minimum wage is just that a minimum wage. $20.00 is insane amount for a minimum. In my opinion, the minimum wage of $9.00 in California is a decent minimum wage and it should go up to $10.55 by 2017.

But, $20.00 is nuts. How do you expect companies to make a profit with that type of income without causing massive wage inflation. There is such a thing of suppression of workers wage which a lot of companies engage in. But there is a point where the wage suppression is just a myth of far leftists (far to the left of myself) and does interfere with a business to make a profit and have liquidity to pays its workers.

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