Raise Minimum Wage?

TakePart has a new petition on their site about raising minimum wage, here’s what they have to say:

If the federal minimum wage kept up with inflation over the past 40 years, it would be $10.74 — $3.49 above where it is now. The Fair Minimum Wage Act of 2013, if passed, would raise the minimum wage to $10.10 an hour by 2015. It would also increase the hourly wage for tipped employees, such as waiters, for the first time in 20 years.

The annual income of a full-time employee working at the federal minimum wage is$15,080. These individuals live $3,000 under the poverty level and struggle to meet basic needs.

Today, 17 million children have a parent who works for minimum wage. The Fair Minimum Wage Act of 2013 could have a dramatic impact on fighting poverty and hunger.

Well I know where I stand on this one. Sign the Petition.

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5 thoughts on “Raise Minimum Wage?

  1. The minimum wage’s dramatic effect on poverty is clear. It increases unemployment among low skilled workers. When it was last raised in the United States teenage unemployment went up dramatically.

    If you believe wage controls are effective then I suppose we should also control the price of automobiles, food, gas, and other services.

    • As far as your argument on whether or not it increases unemployment, economists on both sides of the issue hold up study after study proving that the minimum wage either does or doesn’t contribute to a rise in unemployment, so that issue remains unresolved.

      And being that they’ve been controlling wages for a while versus having no control over prioing the things you’ve mentioned, you’re comparing apples to oranges. It’s like saying if you believe in controlling speed limits, then maybe they should also control what cars you can and can’t drive.

      • The last time the minimum wage was raised in the United States teenage employment fell dramatically. This has been documented again and again. The recent studies prove that if you throw a pebble into a lake it doesn’t cause a big ripple. Well, unless you’re a minnow.

      • The minimum wage is basic economics. It’s the simple theory of the Law of Demand. It was a settled issue 20 years ago before the issue became politicized by partisan economists. Paul Krugman’s evolution over the last 15 years is a great example.

        The only people who continue to study this policy “want to believe” the minimum wage is beneficial.

        The minimum wage isn’t a political issue. It’s a logical part of economics and the Law of Demand. Sadly, much like everything else it has become politicized and it’s one bad study after another by true believers.

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