Little Nicky replied to an article on Tim Worstall’s blog in which Tim took to task Polly Toynbee the wide eyed innocent who fancies herself as a sharp political commentator despite living in a solipsistc, Labour supporting cloud cuckoo land. Polly had said:
Tucked away in last month?s Low Pay Commission report is research by the Institute for Fiscal Studies, estimating that for every 10% the minimum wage rises, the state saves between £560m and £680m in credits and benefits. With the minimum at a puny £5.91, the taxpayer is subsidising employers such as those signatories to pay people non-survivable wages.
Tim, like the conscientious blogger he is patiently explained to the still wet behind the ears despite being in her sixties senior bleeding heart and hand wringer for The Guardian that wages can only be set by market forces. Impose a minium wage on employers and they will cut jobs; make up wages from public funds through tax credits etc. and the more unscrupulous employers will use government subsidy as a way of cutting wages.
Read Tim’s full article here: Actually It’s a moral issue Polly
The Daily Stirrers busiest writer added a bit of history to Tim’s well reasoned comments to show there was nothing new in “New” Labour’s thinking and the imposition of a minimum wage always has the same result.
The Minimum Wage Problem