Tonight the minimum wage is going to raise to about $7.25 because of the bill that passed in Jan. 2007. Approximately 2.8 million Americans work on minimum wage. If passed, this bill will force small businesses to cut about 300,000 jobs. That's not good. It's especially not good because the people who work minimum wage jobs are teenagers and those in their young twenties trying to get started in their careers. If they lose their jobs, I wonder what they'll do.
Why is raising the minimum wage bad? hrmmmm......Just a little common sense will help. I believe if you raise the minimum wage, small business owners are going to have to pay their workers more. Because of that they'll have to do one of two things; raise their prices on goods to make up the difference......or.....cut jobs to have enough money to pay the bills. Especially those raising energy bills because of that "cap and tax" bill in congress. That's a-whole-nother topic. Anyways, keep the minimum wage as it is. Heck, if you lower it, you might even get a few small businesses that would hire a few more workers. Sounds like a pretty good idea.
Subscribe to:
Post Comments (Atom)
After hearing about the increase in minimum wage I thought to myself....Great more money for me! Then I started to think about where that money was coming from and thinking something has got to give. General econmic theory states that increased costs leads to lesser demand. Meaning the increased minimum wage will more then likely cause a loss of jobs and decrease the demand for unskilled labor. After further thought, I started to think of how high school students and young adults pay there way through college. It is by working minimum wage jobs! But what is going to happen when less students are able to get jobs? Are they going to be able to pay their way? Will they be able to attend college?
ReplyDeleteBelow is a link to an article well worth reading.
http://www.jewishworldreview.com/cols/williams050907.php3