Minimum Wage Debate

Minimum Wage?

January 13th, 2007

I have to claim a certain amount of ignorance in this area. Who makes minimum wage? What business out there can actually find someone who will take minimum wage?
The more I think about this why do anything with the minimum wage? It is currently $5.15 an hour. Once you raise the minimum that it becomes the new floor no matter what the future state of the economy may be. You will never see a decrease in the minimum wage. Businesses pay a competitive wage based on requirements and talent available. If the United States economy enters real bad times compared to the rest of the world then the dollar will become devalued to a point we could not afford to import anything. I think the minimum wage has been taking care of itself for quite sometime and is only an issue of politics. Even McDonald’s, Walmart and other entry level type jobs pay more than minimum wage when you start and have increases based on performance. Hopefully those who are making wages which don’t meet their needs are doing something about it like furthering their education. Welfare reform from the Clinton administration proved many positive things and motivated many to focus on improving their situation. Only 2.5% make minimum wage and a number of them are from the service sector which also receive tips. Why put the entire economy at risk for what is really less than 2% of the population?