What Is Your Time Worth?

  • In 1938 Roosevelt signed the Fair Labor Standards Act into law, setting the first minimum wage at $0.25 an hour. That’s about $4.63 in today’s dollars. The current federal minimum wage is $7.25. The minimum wage discussion is a difficult one because its intent and the reality of what we’ve morphed into today are very different. I don’t have any problem setting a minimum wage because left to its own devices business, in the absence of competition, will take advantage of people. The horrible child labor conditions of the 30’s, which was the impetus for FLSA, are a prime example. So what does a minimum wage mean? It’s the minimum amount you can pay someone who has no skills. As you acquire more skills, your time is now worth more. Here’s another crucial point that gets lost. The wage an employer pays is ascribed to what they value the job, not the person. I need someone to pack widgets into a box. I do not need someone with any prior skills or training. I value that position as being worth a minimum wage. (again, this is in the absence of competition) When I’ve hired multiple widget packers I may now need someone to be the chief widget packer, a position with more responsibility and skills needed. I value that position as worth a higher wage. And on it goes. The presumption is that people will continue to rise up the wage ladder commensurate with their newly acquired skills and motivation. Here’s where the conversation gets difficult and is worth an independent discussion. Our middle class jobs are being wiped away, and will continue to be erased. Large numbers of people are being forced back down the wage ladder due to lack of opportunity at their acquired skill level. This forces out the true minimum wage earner and spawns the discussion about how does a former (or potential) middle class earner support themselves only on a minimum wage? And the related side of this is immigration, legal and otherwise. Large numbers of people are arriving with no skills and limited English, and have no other option than minimum wage work. Many of these folks are attempting to support large families on these wages. While the right conversation to be had is how do we best build back our middle class jobs and addressing immigration, the government solution is to simply pay these folks a “living wage”. Sounds great, but the US is a very diverse place. $15 an hour may be sustainable by a business owner in a high wage area like LA or a company like Amazon, but what does the owner of a diner in rural America do? Can they really afford to pay a high school kid $15 an hour to wash dishes or stock shelves at the local hardware store? It’s not an easy discussion. Unfortunately it’s not a discussion we’ll ever have because it will be demagogued to death. Which will only make starting a small business even more difficult, which worsens the middle class job market. Which is a recipe to invite government subsidies to “help”. It’s not a winning trajectory to be on.
  • Apparently we suddenly have a domestic terrorist crisis. The formation of a federal domestic spy agency is well underway. Just like the Patriot Act, we’ll happily sign away more of our freedoms because the state run media tells us there’s racists hiding under every rock. Clearly the rioting and looting all summer don’t count as domestic terrorism because those are approved “woke” causes. During yesterdays crowning of Biden, Antifa ran amuck in Portland and Seattle doing all sorts of shenanigans. Silly Antifa. Why doesn’t that make the news? They even smashed up the original Starbucks. You’d think hipsters everywhere would be outraged. This must be a very confusing time for woke Starbucks baristas.
  • Biden immediately violated the Federal mask mandate he had just signed, appearing at the Lincoln Memorial just a few feet away from reporters… without a mask. The media will call him out on his hypocrisy, right?
  • This last year, we implemented a world-wide lockdown more severe than any climate alarmist could have dreamed for. Vehicle and air travel limited beyond what could ever be realistically proposed, even by the climate guru Greta Thurberg. It was the perfect experiment to see if models would match reality. And… it made no difference in the growth of atmospheric CO2. I suspect we’ll just ignore this inconvenient truth and march forward with a new and improved Paris Climate Treaty 2.0.
  • When Sen Tom Cotton wrote an op-ed suggesting we deploy the National Guard to help quell the rioting and looting this summer, the journalists at the New York Times were so triggered that two editors lost their jobs for allowing such an opinion to be printed. 25,000 troops deployed to protect Washington from a supposed insurrection of white supremacists and racists… and not a peep. The hive mind of the media is an interesting thing.
  • I had to take my dog, a.k.a The Troutdog, to get his nails trimmed yesterday. I wish I could capture the look on his face when he jumps out of the truck and realizes where he is. It’s the look of complete betrayal. “Dude, I thought we were going for a ski…” He then quivers and violently shakes like he’s waiting for a cattle prod up the rear end. I wonder what goes through his little brain that he thinks this is so terrible? Mrs Troutdog refuses to take him because she doesn’t want him mad at her. LOL.

Song of the day: The Clash – This is Radio Clash (Official Video)

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