Costco CEO: Raise The Minimum Wage!

Costco CEO: Raise The Minimum Wage!

Costco CEO: Raise The Minimum Wage To More Than $10 Per Hour
The Huffington Post | By Bonnie Kavoussi
Posted: 03/06/2013 11:10 am EST |

President Barack Obama wants to raise the federal minimum wage to $9 per hour. And the CEO of one of America's largest retailers says such a move would be good for workers and businesses alike. In fact, he says raise it even more.

On Tuesday, Costco CEO and President Craig Jelinek came out in support of the Fair Minimum Wage Act of 2013, which aims to raise the federal minimum wage to $10.10 per hour, then adjust it after that for inflation.

"At Costco, we know that paying employees good wages makes good sense for business," Jelinek said in a statement. "We pay a starting hourly wage of $11.50 in all states where we do business, and we are still able to keep our overhead costs low."

"An important reason for the success of Costco’s business model is the attraction and retention of great employees," Jelinek added. "Instead of minimizing wages, we know it's a lot more profitable in the long term to minimize employee turnover and maximize employee productivity, commitment and loyalty. We support efforts to increase the federal minimum wage."

http://www.huffingtonpost.com/2013/03/06/costco-ceo-minimum-wage-craig-jelinek_n_2818060.html

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Re:Minimum Wage. A Payoff to Unions And Government Depend

Mar 7, 2013, 11:20 AM

Dr. Walter Williams has written extensively on how minimum wage laws hurt youth and the poor--even in good economic times. A search of his writings on the subject may be useful.

For those who wish to focus attention on the progressive "tool" of minimum wage legislation, the writings of Dr. Hans Sennholz may be helpful. Sennholz died in 2007, but his credentials as an economic scholar, professor, writer, and educator qualify him as an authority on this subject and many more related topics. Review his record, and his articles.

A much more comprehensive history of the subject, however, which includes Dr. Sennholz's research and conclusions on minimum wage considerations is available in his 1983 article.

The article is entitled: "Minimum Wage: How political attempts to boost wages tend to harm those most apt to be unemployed." by Hans F. Sennholz - In The Freeman/Ideas on Liberty, May 1983, pp. 270-281

His concluding paragraph::

"But the most vociferous support of minimum wage legislation comes from the professional spokesmen of the poor. Some may actually welcome unemployment among minorities because it breeds other political and economic effects and, above all, creates a political power base for the minority champions. When jobs are scarce they are likely to be rationed and allocated according to government plans and programs. Rationing bestows benefits to political constituents and thus confers prestige and power to the program proponents.* O Some are also aware that unemployment tends to give rise to new demands for radical government intervention, for central control and planning, which may pave the way for an all-round political command system, called socialism. Mass unemployment, they are hoping, will lead voters to support their ultimate objective."