Increasing the Minimum Wage, as proposed by the Obama Administration is not good for the country and it is not good for the minimum wage earner, contrary to popular belief.
The increase of minimum wage might seem to be the resolution to solving the problems of people receiving low wages. Supporters say that they will have more buying power, but realistically, the opposite is the case.
Increasing the minimum wage will accomplish nothing more than increased retail costs across the board as business owners pass the cost of increased wages off to consumers. I might add that the consumer is the minimum wage earner. In short all the wage increase will result in is higher costs for everyone across the board.
It will also result in a continuing expansion of separation of the middle class bringing them closer if not directly into poverty status. The higher the minimum wage, the higher the cost of living, the higher the cost of living the more poverty there is. The guy making $12.00 per hour will be that much closer to minimum wage himself, those his buying power decreases. The only result of increased minimum wages is higher rates of inflation. That is not good for the consumer and is not good for the country.
The Presidents persistent proposal to increase the minimum wage is not going to result in a better living. Maybe in the short run lower wage earners will have the ability to get that Big Mac they want, but within a few short months, if not weeks, once again, the Big Mac will be out of reach as the folks at McDonalds pass the cost of Minimum Wage increases onto the consumer. Make no mistake, as our President would say, you are the consumer.
That’s my point of view. I look forward to your insight on this and all the issues of the day
Have a great day…..and as usual God Bless America!