I sent this message to my Senators, Sherrod Brown (D-Ohio) and Rob Portman (R-Ohio), and to my Representative, Brad Wenstrup (R-Ohio District 2):
"The Jones Act will saddle Puerto Rico with unnecessary rebuilding costs as materials will need to be shipped to the island. It should be repealed immediately for Puerto Rico and after a period of time (a year?) for the rest of the country. This protectionist act has outlived its usefulness. Thank you."
In case you're unfamiliar with the Jones Act, formally known as the Merchant Marine Act of 1920, here's a summary from Wikipedia: It "requires that all goods transported by water between U.S. ports be carried on U.S.-flag ships, constructed in the United States, owned by U.S. citizens, and crewed by U.S. citizens and U.S. permanent residents." It is a protectionist act and, in my humble opinion, has no place in modern commerce.
Showing posts with label Sherrod Brown. Show all posts
Showing posts with label Sherrod Brown. Show all posts
Saturday, October 7, 2017
Tuesday, February 18, 2014
Alternate suggestion for federal minimum wage increase
An open message to Senator Sherrod Brown, representing the great state of Ohio:
I have a suggestion for minimum wage legislation. The current federal minimum wage is $7.25 per hour with the new desired minimum being $10.10 per hour. My suggestion is a law that limits executive compensation for each executive to $1,000,000 per year unless the company's lowest paid employee is paid at least $10.10 per hour x 30 hours per week x 52 weeks per year (or $15,756). This gives companies a choice: Limit executive compensation and pay the current minimum wage or provide employees with the new minimum wage and executive compensation is unlimited as it is today.
I could see using a multiplier. $1,000,000 / $15,756 is 63.47 so executive pay could be limited to 63.47 times the lowest paid employee's annual pay. Note that my suggested new law would automatically exclude small businesses from the higher minimum wage because they only dream of paying their top executives $1 million per year.
If you like this idea, feel free to take it and run with it. I don't need any credit for it.
I have a suggestion for minimum wage legislation. The current federal minimum wage is $7.25 per hour with the new desired minimum being $10.10 per hour. My suggestion is a law that limits executive compensation for each executive to $1,000,000 per year unless the company's lowest paid employee is paid at least $10.10 per hour x 30 hours per week x 52 weeks per year (or $15,756). This gives companies a choice: Limit executive compensation and pay the current minimum wage or provide employees with the new minimum wage and executive compensation is unlimited as it is today.
I could see using a multiplier. $1,000,000 / $15,756 is 63.47 so executive pay could be limited to 63.47 times the lowest paid employee's annual pay. Note that my suggested new law would automatically exclude small businesses from the higher minimum wage because they only dream of paying their top executives $1 million per year.
If you like this idea, feel free to take it and run with it. I don't need any credit for it.
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