Tuesday, April 26, 2011

Minimum Wage

Thom Hartmann points out that every single time except for once, the federal government chose to raise the minimum wage the result was a growing economy and job creation.
He also points out the example of Henry Ford, who started his company by paying employees a wage where they could not afford to buy the product they made, the ford car. His solution was to increase their pay, making it possible for his worker to buy his car.

Guess what happened? When the worker could afford the car they bought them, the increase in sales was enourmous where ford had to expand his business and hire more workers. Thus disproving the Republican myth that if you make the CEO spend more money he will automatically fire more workers. This is the reasont the modern coproration uses to stop new regulation, to stop new taxes, to fight for tax cuts.

Remember its just a myth that was proven by one Henry Ford, who spent more money on his labor and was rewarded with increased demand and sales and profits.

So next time you here this Republican myth I mentioned above, ask for an example, a real world example of their myth occuring, if they cannot come up with one, its just a talking point.

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