Wednesday, April 30, 2014

Slate Magazine: Jay Porter: A Small Business Owner's Case For Raising the Minimum Wage

Source:The New Democrat 

There are several reasons why I'm in favor of raising the Federal minimum wage.  Minimum wage workers are under paid for the work that they do and the services that they perform for their employers. Cashier handle most, if not all, of the money that their employer receives. They provide a necessary and essential service to their company.  The company can't stay in business without it.

Underpaying service workers reduces their ability to live a decent life.  Taxpayers then have to assist these workers in meeting their costs of living.  There is also a cost to the economy in decreased economic growth because of the purchasing power that these workers don't have.  Henry Ford realized this at the beginning of the 20th century.

Do I believe everyone is entitled to earn at least a middle class living simply for being alive?  Of course not, I'm not a Socialist but I do believe that everyone is entitled to be paid the money that their work and services bring to the table.  $7.25 an hour for workers who are critical to the success of a business  is underpayment.  The cost of that underpayment is passed to taxpayers as public assistance and lost  economic growth. 

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