Wednesday, December 18, 2013

Poll: Majority Supports Minimum Wage Hike

A clear majority of Americans support increasing the minimum wage, along with other populist economic ideas, according to a new ABC News/Washington Post poll, reports Real Clear Politics.

Two-thirds of respondents favored increasing the minimum wage, with just 31 percent opposed. The average recommended wage was $10.25, about 15 cents higher than the level that President Obama and Senate Democrats support.

Fifty-seven percent of respondents said that the government should try to reduce the wage gap.

About 85 percent of Democrats support a wage increase, as do 65 percent of independents. Some 50 percent of Republicans favor the policy. Women and minorities are also more likely than men and whites to support an increase.

If we had a revolution in this country to day, I fear what would replace the current government, given prevailing views.


15 comments:

  1. 2/3rds of Americans are economic ignoramuses. Film at 11.

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    1. Yes they all think it is a good idea, then when it fails they will say they were never for it.
      Could you please poll these people and ask how many of them know how to run a business?

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  2. This is why it will become increasingly important for people like us not to remain silent. When the hard times get here, we will have to vie for the ability to control the narrative. If we don't, we will not like where we end up.

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  3. H.L. Mencken — 'Democracy is the theory that the common people know what they want and deserve to get it good and hard.'

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    1. Beat me to it. Bring on the goodness, hardness

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  4. "If we had a revolution in this country to day, I fear what would replace the current government, given prevailing views."

    If you put American in a desert island and they have to write new Constitution, you will have a new North Korea.

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  5. If there were a revolution, your web host would be contacted to discuss the status of your site.

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  6. Robert, if there were a revolution, we would soon be reminded that leftists and Keynesians understand only too well the exception mentioned in the 13th amendment.

    It's by the way that on this day in 1865 the Secretary of State, William Seward, declared that it had been adopted.

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  7. Just more proof that the average American is completely ignorant.

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  8. Great piece. The blow-back effect of this minimum hike is simple, low skilled jobs will be cut substantially from small businesses. People automatically think of Walmart and McDonalds when they associate with the minimum wage, but 90% of the jobs out there, originate from small businesses. So that $3 hike per employee times 40 hours is another $120 dollars that a small business owner has to pay. If you sold pizza's for a business, think about how many more pizzas you'll need to sell in-order to make up the $120 per week if you sold them at $15 per pizza. Times that by 10 employees, now the small business is paying $1200 more per week in payroll expenses or $4800 more per month. Guess what, the company that sells you your flour, milk, eggs, and sauce are also having to pay their employees higher wages so now they will sell you these ingredients at a much higher price. This will force the business owner to do two things, raise their prices of their pizzas and lay off a few workers. Also, please note that the demand for pizza won't magically increase, so with the price hike, he'll very likely sell less pizzas. People will be laid off from these low skilled jobs which means unemployment will increase because now there are even less jobs out there. Also note, this $3 dollar hike will likely put these workers into another higher tax bracket which they'll earn much less than they are anticipating. Higher tax bracket means more taxable income for the government. it's another way for the gov to get more money. Force business to pay people more so they pay more taxes and gov gets more revenue.”

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  9. Oh and remember that Business gets to assume higher employee costs with Obamacare. Unfortunately, there is only so much money you can take out of a business before it is no longer a business. Enjoy the new people at the unemployment line.

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  10. Robert,

    It is high time you take on schysters and sophistry artists like Barry Ritholtz...Bloomberg is becoming America's FT. He is good at investment advice, but he flunks econ 101...in one article he is arguing for a higher min wage while in the other he says that real income for America has never been higher. That guy is a total hack.

    He should be your favourite punching bag just like Krugman is exposed on Bob Murphy's blog.

    Good Luck and keep up the fantastic work!

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  11. New poll out, about 95% of the population has no idea on what it takes to run a business.

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  12. Solution: Send the bill to the majority...

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  13. Democracy is about voting yourself more money and privileges.

    This is why i believe any change can only come after the crash. Albert Jay Nock is right. Nurture the remnant.

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