Supply And Demand

Most people understand at least the basics of the law of supply and demand as it applies to products. If the supply is greater than the demand, prices are low. If the demand exceeds the supply prices go up.

What many don't seem to realize is that this same law applies to wages. When the number of people seeking jobs outnumbers the jobs available wages are kept low. When there are more job openings than people to fill them wages go up. This is one of the many ways our immigration problem hurts us all. More and more workers to fill fewer and fewer jobs. Those calling for higher minimum wages just don't understand the very basics of economy.
Too many people coming into the country adds to the excess of workers.
High taxes and burdensome regulations cause companies to send jobs out of the country resulting in less jobs here.

The irony is, if you can call it irony, those demanding higher minimum wages are the same ones demanding higher corporate taxes, more government regulations and amnesty for illegal immigrants.

And people vote for these fools.

My rant for the day!

 

My sentiments too !

 

I was about to start a new thread but this one might do quite nicely for the small rant I have for everyone today.

In the following link there is an article about several left wing reporters downing Karen Pence because of her small business. She owns "That's my towel" a charm store for beach towels.
The ladies involved with the critique pretty much say that Mrs. Pence's product is of no use and serves little or no purpose in the grand scheme of things. One even said that Karen has some sort of mental problem concerning beach towels.

Now, here's my rant. Karen Pence decided to open a small business and no matter what anyone else thinks about the product involved it is still part of the American Dream. Independence, the search for it, and the practice of it are all pillars of American life.
Here's are some questions I have to ask each and every lady and man in the U.S.
1. Who the heck needs an $8000.00 handbag?
2. Who really needs all of those dust gathering knick-knacks (spelling?) all over the dern otherwise useless shelves on the walls of those same homes owned by the same reporters dissing Karen? They bought useless garbage from a small business. Granted, some are valuable to some collectors but generally they're just something that met with the eye.
3. Who bought a "pet rock"?
4. Is a $5000 Rolex really more practical than a $25 Timex?

The list can go on and on concerning a bunch of seemingly useless stuff that everybody purchases and who are these left wing women who have so much time on their hands that they can't find anything better to do than to try to shame the next VP's wife about her small business?

At least Karen isn't sitting on her royal butt writing garbage but instead she's out discovering part of her dream as an American.

 

I believe that the law of supply and demand is supreme in everywhere. And with the economy, it is always the law that prevails. And you are right, @Sheldon Scott, when there is an overload of applicants for a job, the wages would go down regardless if there is a minimum wage law or not. That is also happening here. When unemployment is high, businesses would take advantage by hiring temps that would work for 5 months only - working for 6 months would automatically make the worker a permanent employee as per the law.

My husband had worked in the US when he was there for 7 months. While waiting for his papers to be fixed, he worked in a newspaper depot, tying LA Sunday Times at $4 per a hundred set. He was the only guy who could speak good English because all the other workers were illegal immigrants who could only speak Spanish. All the workers have no working permit... and that included my husband.