The minimum wage hike is not a huge problem in itself. Its a problem of government and voter psychology. The real scary part of the minimum wage hike is the lack of planning.
We all know the problem with minimum wage hikes. They don’t solve any real problems in employee wages because either $8 or $10 an hour you are still poor as can be.
They also lead us away from the real solutions of lower taxes, less regulations and increased opportunity. Maybe next year we should just raise it too $25 dollars an hour. Then we could all get really rich!
An investment in knowledge always pays the best interest. – Benjamin Franklin
Benjamin Franklin was a very smart man. If you haven’t read his autobiography I suggest you do so.
There’s a few things you could take away from this quote…
In today’s economy their is a dream or belief in getting rich while doing nothing is the apex of success (and hubris). We live in a society where we actually believe in something for nothing. But as the economy evolves faster and faster we will need to realize more and more that we are sending our hopes and dreams to wall street and Washington D.C. We might as well be sending them to Las Vegas because the odds are basically the same. When the economy changes we no longer adapt as a nation. Instead we refuse to learn, change and grow. Now our economy is so rigid and frail nothing short of 85 billion a month will maintain our addiction to ignorance. We need to value real knowledge instead of chasing the knowledge of “how to earn a living without really doing anything of substance”
I hope you enjoy reading some of my thoughts as I post about business life in southern california.