California Democrat Congressional Rep Barbara Lee Proposes a $26.00 Minimum Wage Hike

Rep Barbara LeeCalifornia Congressional Rep Barbara Lee, are we still on-track for them 8.8 Million new jobs by 2017??? On Friday I wrote here that according to the Dept of Labor–Bureau of Labor Statistics, Obamanomics liberated 806,000 from the workforce in April.

(Daily Caller) Rep Barbara Lee has expressed support for a $26.00 minimum wage for California–Is that sufficient? If $26.00 is good why not $50.00 or maybe $100.00 an hour would even better?

In 2012 CATO Institute discussed the ‘Negative Effects of Minimum Wage Laws’ making an excellent point:

While the (minimum wage) aim is to help workers, decades of economic research show that minimum wages usually end up harming workers and the broader economy–If the government requires that certain workers be paid higher wages, then businesses make adjustments to pay for the added costs, such as reducing hiring, cutting employee work hours, reducing benefits, charging higher prices.

Some policymakers may believe that companies simply absorb the costs of minimum wage increases through reduced profits but thats rarely the case. Instead businesses rationally respond to such mandates by cutting employment and making other decision to maintain their net earnings. These behavioral responses usually offset the positive labor market results that policymakers are hoping for.

China Offers Another Alternative…

Robots deliver dishes to customers at a Robot Restaurant in HarbinThe Future of Dining: No Minimum Wages, No ObamaCare,
No Sick Days, No Complaining…

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