The push to increase the minimum wage from $7.25 to $10.10 (a 39% increase) an hour is misguided. One must understand the consequences of such a proposal. First, there actually are going to be consequences. There is no “free tree” from which to pick the plumbs of higher wages. Someone has to pay. The first to pay will be the workers themselves. Most small businesses have low profit margins and their first inclination will be to let some of these workers go if they can. Others will pass the costs along to their customers, you and me, who will be paying more for our Big Macs. Finally there are some small businesses that will just not be able to do either and will have to close their doors sending even more to the unemployment lines.
Let’s be clear. Those making $7.25 are in entry level positions. These jobs are not intended to be for those with families for the long run. Those employed in these positions need to work toward furthering their careers either in or out of their current positions building on the foundation of these minimum wage jobs.
Lastly, those currently making $10 will demand increases in their wages fostering even more unsustainable increases by our tottering economy. Resist socialism. Embrace capitalism. It actually works.
