Minimum wage

US Minimum wage laws, from Image:Blank_US_Map.svg

US Minimum wage laws, from Image:Blank_US_Map.svg (Photo credit: Wikipedia)

President Obama has proposed raising the minimum wage to $9.00 per hour. I support the proposal, although I think that a higher, living wage that accounts for different regional costs of living would be better. The higher minimum wage would make life easier for the working poor and it would lift all boats by raising the entire pay scale for everyone. It would not decrease employment significantly.

Members of the GOP oppose a minimum wage increase for several reasons:

During periods of full employment, which is not the case now, a higher minimum wage would add to inflationary pressures.
They don’t care about the working poor.
Profits and possibly stock prices might be decreased, leading to lower bonuses for the CEOs of large corporations who are the people the GOP do care about.

The GOP should support a higher minimum wage since it would allow a portion of the 47% not currently paying income tax to start paying income tax on their higher take home pay. After all, Mitt Romney and others want more people to pay income taxes, but not higher taxes on members of the 1%.

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