The minimum wage debate has struck up again with the newly elected Democratic majority in Congress. And thus, debates among my friends, acquaintances and intellectual inferiors as well. The popular argument amongst my pro-wage increase friends is, "What people don't understand is that increasing wages will increase spending capital and therefore increase revenues...so everybody wins." Me, in my jerk mentality goes, "great, let's raise the minimum wage to $60 an hour." The reply, "Well, obviously there's a limit." "Ok, great. Then, what is it?" my truthfully curious reply. Their retort, "Well, I think the proposed $7.25 is reasonable."
Ok, here's the thing. There shouldn't be a debate about this anymore. If increasing the minimum wage (to an extent) helps everyone, then what is that ideal economic number? This is truly an economic question. What wage helps the most people? What? Economists say that magic number is $0? Those cruel, hateful jerks.
Maybe that's what they are. Maybe they're right, but ignore basic rules of moral decency. But, let's at least look at the cons of raising the minimum wage, and understand that there ARE some before we try to hurry this vote through to "help" everyone. January 26, 2007
The “What I’m Worth” Debate
The minimum wage debate has struck up again with the newly elected Democratic majority in Congress. And thus, debates among my friends, acquaintances and intellectual inferiors as well. The popular argument amongst my pro-wage increase friends is, "What people don't understand is that increasing wages will increase spending capital and therefore increase revenues...so everybody wins." Me, in my jerk mentality goes, "great, let's raise the minimum wage to $60 an hour." The reply, "Well, obviously there's a limit." "Ok, great. Then, what is it?" my truthfully curious reply. Their retort, "Well, I think the proposed $7.25 is reasonable."
Ok, here's the thing. There shouldn't be a debate about this anymore. If increasing the minimum wage (to an extent) helps everyone, then what is that ideal economic number? This is truly an economic question. What wage helps the most people? What? Economists say that magic number is $0? Those cruel, hateful jerks.
Maybe that's what they are. Maybe they're right, but ignore basic rules of moral decency. But, let's at least look at the cons of raising the minimum wage, and understand that there ARE some before we try to hurry this vote through to "help" everyone.