| Topic: |
Politics > Politics-USA |
| User: |
"Captain Compassion" |
| Date: |
11 Oct 2006 01:45:57 PM |
| Object: |
Nobel winners call for minimum wage hike |
Nobel winners call for minimum wage hike
By ELLEN SIMON, AP Business Writer
51 minutes ago
NEW YORK - More than 650 economists, including five winners of the
Nobel Prize for economics, called Wednesday for an increase in the
minimum wage, saying the value of the last increase, in 1997, has been
"fully eroded."
Economists including Nobel prize winners Kenneth Arrow of Stanford
University, Lawrence Klein of the University of Pennsylvania, Robert
Solow of the Massachusetts Institute of Technology, Joseph Stiglitz at
Columbia University and Clive Granger of the University of California,
San Diego said in a statement released Wednesday that the real value
of today's federal minimum wage is less than it has been at any time
since 1951.
Federal minimum wage is $5.15 an hour. Twenty-two states and the
District of Columbia have set their minimum wages above the federal
level.
"We believe that a modest increase in the minimum wage would improve
the well-being of low-wage workers and would not have the adverse
effects that critics have claimed," the economists wrote.
Critics of a minimum wage hike have contended a higher minimum wage
lead employers to cut jobs or move them offshore. They also say that
many minimum wage earners are teenagers working after-school jobs.
The economists disagreed, writing that a phased-in increase in the
federal minimum wage to $7.25 "falls well within the range of options
where the benefits to the labor market, workers, and the overall
economy would be positive."
The economists wrote that they share the view of a 1999 Council of
Economic Advisors Economic report that found "the weight of the
evidence suggests that modest increases in the minimum wage have had
very little or no effect on employment."
The economists wrote, "While controversy about the precise employment
effects of the minimum wage continues, research has shown that most of
the beneficiaries are adults, most are female, and the vast majority
are members of low-income working families."
The economists spoke on a conference call hosted by the Economic
Policy Institute, an economic research group based in Washington, D.C.
--
Wherever I go it will be well with me, for it was well with me here, not
on account of the place, but of my judgments which I shall carry away
with me, for no one can deprive me of these; on the contrary, they alone
are my property, and cannot be taken away, and to possess them suffices
me wherever I am or whatever I do. -- EPICTETUS
"There are no absolute certainties in this universe. A man must try to
whip order into a yelping pack of probabilities, and uniform success is
impossible." -- Jack Vance
"Civilization is the interval between Ice Ages." -- Will Durant.
"Progress is the increasing control of the environment by life.
--Will Durant
Joseph R. Darancette
daranc@NOSPAMverizon.net
.
|
|
| User: "B1ackwater" |
|
| Title: Re: Nobel winners call for minimum wage hike |
11 Oct 2006 03:57:17 PM |
|
|
On Wed, 11 Oct 2006 11:45:57 -0700, Captain Compassion
<daranc@NOSPAMverizon.net> wrote:
Nobel winners call for minimum wage hike
Tell 'em we'll take it out of their prize
money and then poll the group again ...
.
|
|
|
|
| User: "thunder" |
|
| Title: Re: Nobel winners call for minimum wage hike |
11 Oct 2006 05:23:48 PM |
|
|
On Wed, 11 Oct 2006 11:45:57 -0700, Captain Compassion wrote:
Federal minimum wage is $5.15 an hour. Twenty-two states and the
District of Columbia have set their minimum wages above the federal
level.
Interestingly, while Congress won't raise the minimum wage, they have
given themselves 8 pay raises in the meantime.
http://www.cnn.com/2006/US/06/20/dobbs.june21/index.html
.
|
|
|
| User: "Bill Bonde Anyone for tennis, wouldnt that be" |
|
| Title: Re: Nobel winners call for minimum wage hike |
11 Oct 2006 07:59:14 PM |
|
|
thunder wrote:
On Wed, 11 Oct 2006 11:45:57 -0700, Captain Compassion wrote:
Federal minimum wage is $5.15 an hour. Twenty-two states and the
District of Columbia have set their minimum wages above the federal
level.
Interestingly, while Congress won't raise the minimum wage, they have
given themselves 8 pay raises in the meantime.
They have to pay for two houses.
--
"You know I have ninety four percent recall of all conversations?"
"Ninety four percent?"
"I've tested myself.", Philip Seymour Hoffman, 'Capote'
.
|
|
|
| User: "thunder" |
|
| Title: Re: Nobel winners call for minimum wage hike |
11 Oct 2006 08:09:14 PM |
|
|
On Thu, 12 Oct 2006 02:59:14 +0200, Bill Bonde ('Anyone for tennis,
wouldn't that be nice?') wrote:
Interestingly, while Congress won't raise the minimum wage, they have
given themselves 8 pay raises in the meantime.
They have to pay for two houses.
True, and those on minimum wage? Where I live, $5.15 doesn't get you any
house.
.
|
|
|
| User: "Harold Burton" |
|
| Title: Re: Nobel winners call for minimum wage hike |
11 Oct 2006 08:24:53 PM |
|
|
In article <12ir5dqi3n3hpd0@corp.supernews.com>,
"thunder" <thunder@TAKEOUTgti.net> wrote:
Where I live, $5.15 doesn't get you any house.
So don't buy one.
.
|
|
|
|
| User: "Bill Bonde Anyone for tennis, wouldnt that be" |
|
| Title: Re: Nobel winners call for minimum wage hike |
11 Oct 2006 08:21:15 PM |
|
|
thunder wrote:
On Thu, 12 Oct 2006 02:59:14 +0200, Bill Bonde ('Anyone for tennis,
wouldn't that be nice?') wrote:
Interestingly, while Congress won't raise the minimum wage, they have
given themselves 8 pay raises in the meantime.
They have to pay for two houses.
True, and those on minimum wage? Where I live, $5.15 doesn't get you any
house.
So you can see why the congressmen need all those raises.
--
"You know I have ninety four percent recall of all conversations?"
"Ninety four percent?"
"I've tested myself.", Philip Seymour Hoffman, 'Capote'
.
|
|
|
|
|
|
|
|
Related Articles |
|
|
