Should We Raise the Minimum Wage?

econ 6Raising the minimum wage actually is bad for job creation, especially for the poor and those trying to get their first jobs. For international companies, raising wages across the board gives them a reason to do more business overseas in low wage countries.

reality check r1Go into any fast food place where employees earn minimum wage and observe the way they work, their manner, efficiency and courtesy, everything about them.  You will see some efficient courteous workers, and some rude slow-movers and everything in between.

If you had a business, how many of them might you hire? How many would you hire to work in your home? During a non-busy time, talk to a manager and ask about quality of employees, wages and raises.

You might find that the people who earn minimum wage might not deserve much more.

cb11All Wages and Prices Will Go Up.

All wages will go up as we raise bottom tier wages; with a $7.25 minimum wage, the worker now making $10.25/hour will then demand $3 above minimum wage, and the $13.25/hour worker will demand $6.00 above minimum wage, and so on. menu3-boardt

Some unions favor raising the minimum wage, as some union contracts use the minimum wage as a benchmark, and their wages will go up with the minimum wage.

Don’t forget entitlements — as wages and prices go up, so does the cost of living and social security and disability payments will  go up as well — adding to soaring national debt.

Due to increased labor costs, the price of everything will go up too. The minimum wage worker will still be at the bottom, and may not be better off at all.


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A bright idea:  since polls indicate popularity of a higher minimum wage, how about, a mandatory $1.00 minimum wage increase to anyone who can hold a job for six months — that way employers will pay more only for proven employees (who are more valuable).   

10th amendment  — Do It At at State Level. patriot 1 pmg

Does it make sense to have the same minimum wage in New York City as in Peoria, IL, where the costs of living are vastly different?