1. Fewer workers may be hired. This would result in increased unemployment among the very workers the minimum wage is designed to help. Besides increasing our deficit, it also increases people’s dependency on the government. Workers then become idle and lose their work skills and habits.
2. The higher wage costs may be passed on to the consumer. This inflation predominantly targets the neighborhoods that have minimum wage establishments. Poorer neighborhoods will be hit the hardest.
3. Businesses that have a large work force of minimum wage earners may go out of business. This is the double whammy. This will cause minimum wage earners to lose their jobs and the communities they serve to lose the services and goods provided by these companies.
The term “a living wage” is political balderdash that has no place in a real economic discussion. We all want everyone to be employed and compensated for the value they bring to the marketplace. A better solution than raising the minimum wage would be to provide an additional two years of free education.
A college diploma is the new high school diploma. Free technical college would allow minimum wage earners to become more valuable to the workforce market. We have had free education through the twelfth grade for generations. It is time to move this forward a couple of more years. An educated citizenry is paramount to personal and national well-being.
Now is the time to build on our past. We can build a stronger economy and a stronger democracy if everyone’s ambition and talent can reach their full potential!