Young Fine Gael Call To Drive Down Minimum Wage
So Young Fine Gael want to cut €2 an hour from the minimum wage and replace it with a €2 subsidy from social welfare. Apparently this is to help business employ more young people (on low wages) by lowering the cost of employing people for companies.
OK, let’s look at this logically shall we. If the government is to pay a quarter of the employees wages for the company that is going to cost a lot of money. Unfortunately the government doesn’t have any money. No government does. So they raise money through taxing the people. So to get this money they have to raise income tax on the working population….. thus raising the cost of employing people for companies. Brilliant !
Of course there are side affects like hastening the race to the bottom for wages and increasing the profit margin of the corporations the parents of the Young Fine Gaelers own that insulates these YFG policy makers from having to live on the minimum wage. Well, at least their double-skinny-latte served up by our newly employed young person will be cheaper for them … or will it? No? Maybe I’m just being tetchy ?