So Obama, Reid, and the rest of the usual suspects now are going to make it a priority to raise the minimum wage. Think about this a minute. Let’s say the minimum wage is seven dollars an hour. The economy stabilizes around this amount. Suppliers, manufactures, and service providers all adjust their business model to pay this wage. What happens if you raise the minimum? Do all the people and companies who supply the jobs just take a hit to the bottom line? No, they adjust their business model. Prices go up. Jobs are cut. There is a cause and effect that Progressives ignore. They either never think things through or they are just pandering, knowing what the end result will be but counting on the positive press to make them look good. The end result is fewer entry level jobs for the working poor and less buying power for the middle class. Since the last great recession in 2008, my income has been mostly flat or after figuring in health care increases has actually declined. I don’t see that changing much in the near future. Therefore, when prices for basic goods and services go up, people like me are the one’s that take the hit. I make the same amount but have to pay more for everything. I don’t get a raise. The middle class looses buying power, entry level employment is decreased, the rich get richer and the poor get poorer. Make the minimum wage whatever you want, hey, make it 30 dollars an hour. After everything is adjusted, the end result will be the same.
If these people want to grandstand and demagogue about “income equality” ( a term that sounds very Orwellian), let them do something real that will help improve the situation. Reduce the regulatory and tax burden on business and individuals. Make the United States the chosen location for business in the world. Foster an environment that will allow companies to create good jobs and all of this nonsense goes away. But I suspect they know this, and that is why it will never happen. And that is why, like most Progressive ideas, raising the minimum wage is stupid!