Page 39 - Minimum Wage Increase News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Night, april 8th, 1974 is that president nixon and the democratically controlled congress had just passed a big new piece of legislation. they just passed a new minimum wage increase that would put extra money into the pockets of tens of millions of americans. >> good evening. president nixon today signed into law a far-reaching increase in the federal minimum wage. the measure will now extend minimum wage protection to an additional seven or eight million workers, and ultimately about 54 million americans will be covered. this is pretty much the bill which mr. nixon vetoed seven months ago, b...

Even more difficult for him -- i think about the -- i don't know how you guys feel about this. i actually think john mccain when he turned his thumb down may have spared him some problems here because you look at how health care motivated democrats. imagine if they had taken the -- imagine if the affordable care act had gone down and the chaos that would have reigned after that. he has an excuse now for not doing some of the things that the base wants him to do if he wants to go that route. >> i'll give you a couple things i think the president is going to try to do to attract democratic votes...

Look from the state department. >> 60000% inflation, venezuelans need a stack of money to buy a bag of rice if one is available. a government solution, just dropped five zeros from the currency. >> that is a trick, this is a terrible deception. removing five zeros does not improve the economy at all. >> the international monetary fund to says inflation could hit one million percent. president nicolas maduro announced a 3000% minimum wage increase and raise corporate taxes and gasoline prices. analysts say that will likely accelerate hyperinflation. >> if this is poorly executed or unfeasible, ...

So unions have to manufacture crisis like this so they can appear relevant. why $15? why not 25? it was 12. the reason it looks good on a poster. instead of fixing minimum wage long-term, they rather do this because every few years they can come along and say, hey, we're defending the worker. the problem right now, though, is we lost 8 million jobs to automation manufacturing. not outsourcing. robots. we're going to lose more of that of these minimum wage-level jobs. need to be preparing their people for this and spending time getting them qualified instead of just trying to bring more people ...

Of it? if you raise the price of labor, fewer people will use minimum wage, folks. >> that's what i learned in economics. you make an artificially high wage, you have artificially high unemployment. economics is a philosophy. they say if you print hundreds of billions of dollars, you see the inflation. i haven't seen that happen. there's levels of minimum wage increase that don't have a lot of effect, probably the ones we have had to this point. when they happen, if the economy is strong, it doesn't matter. oh, a little is good, a lot better. say obama sent the price of coal down to put coal i...