Skip O'Neill – Liberty for All

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Archive for December 2012

Wage and Price Controls hurt those it is intended to help

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A minimum wage is considered a price floor. In other words, it is a level below which the price of something is not allowed to fall.
When an employer is forced to pay someone a wage that is higher than what the free market would bear, they must make a decision to hire that person or not. If the cost to hire a person at an artifically higher wage is not cost effective, he/she will not make the hire. In addition, If a small business owner is paying his employees an hourly rate and that rate is raised by minimum wage laws, he/she has to make a key business decision; who should I fire to cover for the rising labor costs. Remember, minimum wage laws are political. Politicians would never get elected if they said, “Let’s get rid of minimum wage!”

Average cost of new car will increase $3,000

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Earlier this year, the Department of Transportation (DOT) and EPA released the finalized, new fuel-efficiency standards for cars and light-duty trucks, which will require 2025 model year vehicles to have an average fuel economy of 54.5 miles per gallon (mpg).  The new standard comes close to doubling the current CAFE average of 29 mpg and, combined with the administration’s fuel efficiency standards for 2011–2016, will increase the average cost of a new car by $3,000 by 2025.

Written by opinionoregon

December 27, 2012 at 7:23 pm

Posted in Uncategorized