Barack Obama What Do You Want To Be When You Grow Up? When I Grow Up I Want To Be President, Increase The Minimum Wage And The Unemployment Rate and Spread The Wealth Around!

Posted on July 24, 2009. Filed under: Blogroll, Communications, Economics, Employment, Fiscal Policy, government spending, Links, People, Philosophy, Politics, Quotations, Rants, Raves, Video | Tags: Barack Obama, Economics, Illegal Aliens, Minimum Wage, Obama Depression, President Barack Obama, Teenage Unemployment, The Great Depression, unemployment, Unemployment Rate |

 What Do You Want To Be When You Grow Up?

When I Grow Up

Barack Obama on Minimum Wage

 Obama tells Joe the plumber that he wants to “spread the wealth around”

Obama’s Horrible Plan to Raise Minimum Wage

Pay Rises For Minimum Wage Earners – Bloomberg

Min. Wage Increases Today. Unemployment For Teens= 24%

Labor Force Statistics from the Current Population Survey

Labor Force Statistics from the Current Population Survey

Series Id:           LNS14000012
Seasonal Adjusted
Series title:        (Seas) Unemployment Rate - 16-19 yrs.
Labor force status:  Unemployment rate
Type of data:        Percent
Age:                 16 to 19 years

http://data.bls.gov/cgi-bin/surveymost 

Power of the Market – Minimum Wage

Milton Friedman on Minimum Wage

Walter Williams Good Intentions 1 of 3 Introduction and Public Schools

Good Intentions 3of3 The Welfare System and Conclusions with Walter Williams

Walter Williams Good Intentions 3 of3 Minimum Wage, Licensing, and Labor Laws

Thomas Sowell On Minimum Wage

With today’s increase in the U.S. minimum wage from $6.55 to $7.25, small to medium size businesses will be laying off people and cutting the number of hours their employees work each week.

This will result in at least hundreds of thousands more unemployed starting in July and continuing as the Obama Depression (OD) gets worse and the economy takes longer to recover.

The July unemployment rate is expected to increase from 9.5% to 9.9% in July with another 600,000 more unemployed many of them low-skilled and young workers who previously earned the minimum wage and now are unemployed.

Series Id:           LNS13000000
Seasonal Adjusted
Series title:        (Seas) Unemployment Level
Labor force status:  Unemployed
Type of data:        Number in thousands
Age:                 16 years and over

Series Id:           LNS14000000
Seasonal Adjusted
Series title:        (Seas) Unemployment Rate
Labor force status:  Unemployment rate
Type of data:        Percent
Age:                 16 years and over

Yet President Obama would like to increase the minimum wage even more as would the majority of progressive radical socialist of the Democratic Party.

One might think that when it comes to basic economics, the progressive radical socialist are not very intelligent.

Far from it.

All of them know that raising the minimum wage will increase the unemployment rates of low-skilled workers primarily young teenage workers.

Then why do they persist in this folly especially during the Obama Depression when over 15,000,000 people are searching for a full time job!

Simple.

Who are the largest campaign contributors to the Democratic Party?

Yes, the unions.

Who benefits the most from a higher minimum wage?

The unions–both the leadership of the unions and its members.

How?

When the minimum wage goes up so does the wage scale of most union members.

If you are an employee and an union member, your pay check goes up.

So, does your union dues.

Just hope you are not laid off.

The progressive radical socialist of the Democratic Party may feel you pain, just do not fall for their good intentions if you value your job.

Ever wonder why the Democrats are big supporters for open borders with over 20,000,000 to 30,000,000 illegal aliens living and working in the US.

Simple.

The progressive radical socialists of the Democratic Party see them as future voters and union members once they pass “comprehensive immigration reform” with its “pathway to citizenship”–a code word for amnesty for illegal aliens.

Sure the progressive radical socialist feel your pain.

They simply do not give a damn that between 15,000,000 to 25,000,000 American citizens are unemployed.

The total civilian labor force is about 155 million of which about 16.5% are looking for a full time employment.

This means there are over 25,000,000 American citizens looking for full time employment.

There are now nearly twice the number of American citizens  seeking a full time job than the 13,000,000 unemployed during the worse year of the Great Depression in 1933!

Illegal aliens number between 20,000,000 to 30,000,000 in the United States.

Roughly 15,000,000 to 20,000,000 million illegal aliens are now working in the United States of which a large percentage work at or below the Federal Minimum Wage.

 Labor Force Statistics from the Current Population Survey

Series Id:           LNS11000000
Seasonal Adjusted
Series title:        (Seas) Civilian Labor Force Level
Labor force status:  Civilian labor force
Type of data:        Number in thousands
Age:                 16 years and over

Series Id:           LNS13327709
Seasonal Adjusted
Series title:        (seas) Total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers
Labor force status:  Aggregated totals unemployed
Type of data:        Percent
Age:                 16 years and over
Percent/rates:       Unemployed and mrg attached and pt for econ reas as percent of labor force plus marg attached

http://data.bls.gov/cgi-bin/surveymost

By not enforcing immigration laws, millions of American citizens are now unemployed.

The reason why the unemployment rates among young unskilled and minority workers is so high is that illegal aliens are being hired to do the jobs once performed by young unskilled American citizens.

Unemployment in the United States could be reduced by over 15 million by simply enforcing immigration laws and requiring all employers to use E-Verify to determine the legal status of their employees to work in the United States.

Yet both political parties have repeatedly delayed even requiring Government contractors to use E-verify.

E-Verify finally mandatory to federal contractors

CNN Lou Dobbs on E-Verify

Lou Dobbs – 2-2-9 – Obama Admin wants to kill E-Verify

Again the political elites do not give a damn about American citizens as long as they are in power and receive campaign contributins from companies and unions that benefit from the mass hiring of illegal aliens or more accurately criminal aliens.

Time to wake up America and join the Second American Revolution.

Give pink slips to the political elites of both political parties who support open borders, amnesty for illegal aliens, and minimum wage laws.

illegal immigration and my tough job as united states minimum wage dude worker

Background Articles and Videos

What Causes Unemployment?

by Thomas Sowell

“…Prior to the decade of the 1930s, the wages of inexperienced and unskilled labor were determined by supply and demand. There was no federal minimum wage law and labor unions did not usually organize inexperienced and unskilled workers. That is why such workers were able to find jobs, just like everyone else, even when these were black workers in an era of open discrimination.

The first federal minimum wage law, the Davis-Bacon Act of 1931, was passed in part explicitly to prevent black construction workers from “taking jobs” from white construction workers by working for lower wages. It was not meant to protect black workers from “exploitation” but to protect white workers from competition.

Even aside from a racial context, minimum wage laws in countries around the world protect higher-paid workers from the competition of lower paid workers.

Often the higher-paid workers are older, more experienced, more skilled or more unionized. But many goods and services can be produced with either many lower skilled workers or fewer higher skilled workers, as well as with more capital and less labor or vice-versa. Employers’ choices depend on the relative costs.

The net economic effect of minimum wage laws is to make less skilled, less experienced, or otherwise less desired workers more expensive — thereby pricing many of them out of jobs. Large disparities in unemployment rates between the young and the mature, the skilled and the unskilled, and between different racial groups have been common consequences of minimum wage laws.

That is their effect whether the particular minimum wage law applies to one sector of the economy like the Davis-Bacon Act, to the whole economy like the Fair Labor Standards Act of 1938 or to particular local communities like so-called “living wage” laws and policies today.

The full effect of the Fair Labor Standards Act of 1938 was postponed by the wartime inflation of the 1940s, which raised wages above the level specified in the Act. Amendments to raise the minimum wage began in 1950 — and so did the widening racial differential in unemployment, especially for young black men.

Where minimum wage rates are higher and accompanied by other worker benefits mandated by government to be paid by employers, as in France, unemployment rates are higher and differences in unemployment rates between the young and the mature, or between different racial or ethnic groups, are greater. …”

http://www.capmag.com/article.asp?ID=4472

Minimum Wage

“…A minimum wage is the lowest hourly, daily or monthly wage that employers may legally pay to employees or workers. Equivalently, it is the lowest wage at which workers may sell their labor. Although minimum wage laws are in effect in a great many jurisdictions, there are differences of opinion about the benefits and drawbacks of a minimum wage. Supporters of the minimum wage say that it increases the standard of living of workers and reduces poverty.^[1] Opponents say that if it is high enough to be effective, it increases unemployment, particularly among workers with very low productivity due to inexperience or handicap, thereby harming lesser skilled workers to the benefit of better skilled workers.^[2] …”

^“…Until the 1990s, economists generally agreed that raising the minimum wage reduced employment. This consensus was weakened when some well-publicized empirical studies showed the opposite, but others consistently confirmed the original view. Today’s consensus, if one exists, is that increasing the minimum wage has, at worst, minor negative effects.^[64]

According to a 1978 article in the American Economic Review, 90 percent of the economists surveyed agreed that the minimum wage increases unemployment among low-skilled workers.^[65]

A 2000 survey by Dan Fuller and Doris Geide-Stevenson reports that of a sample of 308 American Economic Association economists, 45.6% fully agreed with the statement, “a minimum wage increases unemployment among young and unskilled workers”, 27.9% agreed with provisos, and 26.5% disagreed. The authors of this study also reweighted data from a 1990 sample to show that at that time 62.4% of academic economists agreed with the statement above, while 19.5% agreed with provisos and 17.5% disagreed. They state that the reduction on consensus on this question is “likely” due to the Card and Krueger research and subsequent debate.^[66]

A similar survey in 2006 by Robert Whaples polled PhD members of the American Economic Association. Whaples found that 37.7% of respondents supported an increase in the minimum wage, 14.3% wanted it kept at the current level, 1.3% wanted it decreased, and 46.8% wanted it completely eliminated.^[67]

Surveys of labor economists have found a sharp split on the minimum wage. Fuchs et al. (1998) polled labor economists at the top 40 research universities in the United States on a variety of questions in the summer of 1996. Their 65 respondents split exactly 50-50 when asked if the minimum wage should be increased. They argued that the different policy views were not related to views on whether raising the minimum wage would reduce teen employment (the median economist said there would be a reduction of 1%), but on value differences such as income redistribution.^[68] Klein and Dompe conclude, on the basis of previous surveys, “the average level of support for the minimum wage is somewhat higher among labor economists than among AEA members.”^[69]

In 2007, Daniel B. Klein and Stewart Dompe conducted a non-anonymous survey of supporters of the minimum wage who had signed the “Raise the Minimum Wage” statement published by the Economic Policy Institute. They found that a majority signed on the grounds that it transferred income from employers to workers, or equalized bargaining power between them in the labor market. In addition, a majority considered disemployment to be a moderate potential drawback to the increase they supported.^[70]

^…”

http://en.wikipedia.org/wiki/Minimum_wage

Head & Shoulders top, second stimulus & minimum wage hike

Glenn Beck – Minimum Wage – Feb 12, 2007

Pelosi’s Double Standard on the Minimum Wage

Minimum wage – How it works in REAL TERMS 1/2

Minimum wage – How it works in REAL TERMS 2/2

Ted Kennedy on Republicans and Minimum wage

YouTube Debate: Would you work for minimum wage?

History of the Federal Minimum Wage

The U.S. Federal Minimum Wage, originally created by the Fair Labor Standards Act in 1938, has risen in nominal terms over time. Originally $0.25 per hour, the federal minimum hourly wage for nonfarm workers rose accordingly:

Year	Level	Notes
1939	30 cents
1945	40 cents
1950	75 cents
1956	$1.00
1965	$1.25
1967	$1.00	Fell back to 1956 levels
1968	$1.15
1969	$1.30
1970	$1.45
1971	$1.60
1974	$1.90
1975	$2.00
1976	$2.20
1977	$2.30
1978	$2.65
1979	$2.90
1980	$3.10
1981	$3.35
1990	$3.80
1991	$4.25
1996	$4.75
1997	$5.15
2007	$5.85
2008	$6.55
2009	$7.25

 http://en.wikipedia.org/wiki/List_of_U.S._minimum_wages

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