What do you think about a $45,000/year minimum wage? That's $21.63/hour. Do you know a minimum-wage worker who is worth that?
Sen. Elizabeth Warren (D-Mass.) seems to think minimum-wage employees are already productive at this rat. Well, not in Illinois. And I'd be willing to bet, not in Massachusetts, either.
A free market think tank specializing in wage issues had this to say about Sen. Warren’s rhetoric: It “makes zero economic sense, and demonstrates how out
of touch Sen. Warren is with business realities faced by employers who
hire people and pay them the minimum wage.”
Source: http://freebeacon.com/elizabeth-warrens-fuzzy-math/
I recall a sign in a colleague's office in 1966, which read, "Your raise becomes effective when you do."
As far as paying workers what they are worth, I wrote recently about the employee who complained to his boss and asked why the boss didn't pay him what he was worth. The boss said, "I would, but we have minimum-wage laws in this state."
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1 comment:
I would LOVE to see the minimum hourly rate raised in Mass. Her tribe voted for her, raise the minimum rate and let's sit back and watch as business flees Mass. I think it would be funny. Maybe she should consult her Chief for help.
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