When Coloradoans voted to tie the state’s minimum wage to inflation, they were trying to make sure low-wage workers did not fall too far behind the cost of living. But their vote has had an unintended consequence: Colorado plans to lower its minimum wage next year because of falling inflation rates, becoming the first state in the nation do so.
The state’s Department of Labor and Employment said Tuesday that it planned to lower the minimum wage to $7.24 from $7.28, after an August federal consumer price index report showed that the cost of living had fallen in the state. A public hearing on the issue is set for next month.
Colorado is one of 10 states where the minimum wage is tied to inflation. The others are Arizona, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont and Washington.
THE FACT THAT LIBS ARE UNHAPPY ABOUT THIS TELLS YOU A LOT ABOUT LIBS:
THEY THINK THAT:
- GOOD OUTCOMES CAN AND MUST BE GUARANTEED ALL THE TIME;
- HENCE THEY THINK THEY CAN AND MUST CREATE A "COMPASSIONATE CAPITALISM" IN WHICH THERE ARE ONLY PROFITS NO LOSSES - AND NEVER ANY CORRECTIONS/RECESSIONS.
- IT WAS THIS TYPE OF UTOPIANISTIC FANTASY WHICH LED TO THE FANNIE MAE INDUCED REAL ESTATE BUBBLE AND FINANCIAL COLLAPSE WHEN THAT BUBBLE (AND THE DERIVATIVES WHICH INFLATED BY IT) BURST.
- TO ELIMINATE THE MINIMUM WAGE,\
- AND GET POLITICIANS OUT OF THE MARKETPLACE ALTOGETHER,
- AND HAVE A POPULATION THAT CAN TAKE A FEW PUNCHES WITHOUT CRYING FOUL AND DEMANDING THE POLITICANS REWRITE THE RULES.
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