"Knowledge will forever govern ignorance

 and a people who mean to be their own governors

 must arm themselves with the power which knowledge gives."

Wednesday, June 28, 2006

Bob Menendez And The Minimum Wage

Bob Menendez says we wants to be elected to the U.S. so that he can increase the minimum wage. He cites his recent vote for a bill in the Senate that would have increased the federal minimum wage to $5.85 beginning 60 days after enactment, to $6.55 a year later and to $7.25 a year after that.

Put aside the negative impact an increase in the minimum wage would have on employment and ask Menendez this question. How would his position on the minimum wage help the people of New Jersey? If Menendez answered the question truthfully he would have to say that it wouldn’t help anyone in our state. The current minimum in New Jersey is $6.15 and on Oct. 1 2006, before the election, it will be $7.15.

So why would Menendez tout a position that not only won’t amount to an increase for New Jersey’s workers, but dictates economic policy to other states? As Nobel Prize-winning economist Gary Becker has said, "Hike the minimum wage, and you put people out of work” and 90 percent of economist agree that a higher minimum wage reduces jobs for low-skilled workers.

Cornell economists Richard V. Burkhauser and Joseph J. Sabia, in a 2004 study, estimated that just a 10 percent hike in the federal minimum wage would cause an 8.5 percent decrease in the employment of young African-Americans, a 5.7 percent decrease in the employment of teenagers and an 8.5 percent drop in the employment of workers without a high school diploma.

So again, ask yourself why is Bob Menendez running on a promise to increase the federal minimum wage? It won’t boost income for New Jersey’s workers and it will cost job opportunities for the most vulnerable in other states. The obvious answer is because Menendez thinks it sounds good in TV commercials and during debates. In other words, he’s trying to pull the wool over your eyes.



1 Comments:

At 2:07 PM, Blogger njgalaxie73 said...

I believe Judge Judy said it best. "Don't pee on my leg and tell me it's raining!"

This is a perfect example of how much respect he has for our intelligence. It's as if he thinks that we have all fallen asleep on a nuclear reactor and that our brains have melted and we have simply become meat with eyes.

If he really thinks we're THAT stupid, his campaign signs should be written in crayon, with the n's and the z in his name reversed and a picture of a middle finger directly underneath it.

If New Jersey is an example to anybody, it is how NOT to encourage economic growth. Between raising the Minimum Wage and all of the tax and spending increases Jon Corzine has proposed, New Jersey's economy is going to be an even bigger disater than it already is! If this all hits us at once, who's going to have a job left in this state!!?

If Bob Menendez really cared about people having more money in their pockets, he would not have voted for Jim Florio's tax increase in the State Assembly, voted to raise taxes numerous times in Washington which includes voting to increase the Social Security tax and he wouldn't have voted against the Bush tax cuts that are generating economic growth everywhere except here and the Gulf Coast States that were hit by Hurricanes Katrina and Rita.

Bob Menendez has made it abundantly clear that he thinks all New Jersey voters are as stupid as the morons that do nothing but leach off the system in the 13th Congressional District that kept him in power for 13 years. Let's do all we can to make sure that he remains a one year handpicked US Senator.

 

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