Monday, May 27, 2013

Raising Connecticut's Minimum Wage Will Not Help The Economy

The Connecticut Senate approved a hike to the minimum wage, last week. The Senate voted 21-to-15 on Thursday to increase the current wage of $8.25 an hour to $8.70 on Jan. 1, 2014. It would increase to $9 on Jan. 1, 2015.

I believe it is important to point out that raising the minimum wage, or even having a minimum wage, does not help the lower class.  If minimum wage laws actually worked the way these politicians pretend they do, then why wouldn't government just raise the minimum wage to $100/hour?  If every employer was forced to pay their employee $100/hour, then, by this logic, we could help the lower class come out of poverty.  But, of course, this logic is wrong.

It tends to be Democrats that push for the minimum wage, but you won't see the Republicans point out the absurdity of politicians trying to manipulate economics, because they benefit from having control of the economy, when they're in power.