The Dumbest Idea in the History of Trenton Economic Idiocy

I suppose after signing on to so many of Governor Chris Christie’s key proposals, the ambitious Senate President Steve Sweeney needs to do something else to convince his party’s liberal Democrat base that he’s still on their team…

…like propose a wacky, idiotic, and economically disastrous minimum wage increase via constitutional amendment???

Republican Leader Tom Kean, Jr. correctly labeled this proposal as reckless in a Monday release:

Writing the minimum wage into the New Jersey Constitution and setting it on autopilot, with yearly increases that are guaranteed regardless of the economic situation, is cold, calculated politics designed to satisfy Democrats’ political interests rather than the best interests of the state. By refusing to discuss this with anyone who disagrees with their point of view, Democrats are pitting labor against business and dividing our state.

Anyone who remembers the 70’s can see why this is a horrendous idea: prices rose, but the economy was stagnant. Inflation doesn’t automatically mean that employers can afford to pay workers more. Economic circumstances and needs change, but the state constitution is for all intents and purposes permanent and difficult to change even in an emergency.”

That’s exactly, 100% correct, Save Jerseyans. Bravo to TK2 for calling Sweeney out on it in a substantive yet abundantly clear way…

Articulating the truth is critical because this is extremely important stuff, folks. It affects each and every one of us. Just ask any friend, family member or Save Jersey contributor who owns a small business here or anywhere else. And if you still don’t understand exactly why Sweeney’s idea is so miserably bad from a policy/practical standpoint, folks, please take a few moments out of your hectic day to read my 800-word post on the topic originally published this past May when Trenton Democrats tried to push a similarly ridiculous plan as a statute.

The bottom line? New Jersey is already one of the most expensive places in America to do business. Logically, any legislative/regulatory/legal measure that makes it MORE expensive to do business here is counterproductive and severely injurious to our economy. The data discussed in my post backs this up this contention by showing the unmistakable correlation between (1) higher business costs catalyzed by minimum wage laws and (2) higher unemployment for minimum wage employees; heck, if you need something even more tangible to chew on, consider how Subway’s $5 footlong is no longer a lunch option thanks to the minimum wage!

For all these reasons and more, Save Jerseyans, this minimum wage amendment might very well be the absolute, undisputed dumbest idea in the history of New Jersey politics. Now THAT’S saying something, wouldn’t you agree?

Trenton Democrats got us here, and their self-serving spin isn’t going to get us anywhere better. We cannot let them dig the hole any deeper. 2013 here we come…

 

Matt Rooney
About Matt Rooney 8430 Articles
MATT ROONEY is SaveJersey.com's founder and editor-in-chief, a practicing New Jersey attorney, and the host of 'The Matt Rooney Show' on 1210 WPHT every Sunday evening from 7-10PM EST.

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