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A Minority View: Higher Minimum Wage

Marc_H Wrote: Feb 27, 2013 9:37 AM
why not just pass a law saying the compaines can't lay-off people?
Marc_H Wrote: Feb 27, 2013 9:37 AM
makes as much sense as this obama plan for failure
KPar Wrote: Feb 27, 2013 9:42 AM
Marc_H Wrote: Feb 27, 2013 9:57 AM
obama wants us to be France...

me, nope
but i almost given up on the US

In his State of the Union address, President Barack Obama proposed raising the minimum wage from $7.25 an hour to $9 an hour. That would be almost a 25 percent increase. Let's look at the president's proposal, but before doing so, let's ask some other economic questions.

Are people responsive to changes in price? For example, if the price of cars rose by 25 percent, would people purchase as many cars? Supposing housing prices rose by 25 percent, what would happen to sales? Those are big-ticket items, but what about smaller-priced items? If a supermarket raised its prices by 25 percent,...