There have been several demonstrations and rallies locally and throughout the country demanding the minimum wage be raised to over $10 per hour. At first I didn’t take it seriously but now President Obama and some top Democrats are saying this should be a priority.
Are they serious?
Don’t get me wrong. I would like to see every working person make more money, but will this be good for the economy? The argument for it says by allowing more working people to make more money, it gives them more money to spend, thus helping the economy.
The argument against asks will it cause more small businesses to have to shut down, or reduce their staff, thus forcing more people out of jobs because the businesses can’t afford them. Will it also force prices to go up on products in order to pay people more money? Will it lead to more businesses moving out of the country?
The president and Democrats in the House and Senate appear to be strongly in favor of raising the minimum wage, which is currently at $7.25 to over $10. I could understand $8 but $10 is a bit much. The fallout to this just may be enough to help Republicans maintain their majority in the House. Oh, by the way, Pittsburgh City Council also has voted for a raise increase for any business doing business with the city, and I would assume City employees.