Tuesday, April 10, 2012

What? Another minimum wage increase in the works?

So says today's NYT.  Massachusetts legislators are pushing for $10/hour; pols in Conn., Ill., NJ, and NY are also promoting the idea.  Democrats in Congress have their fingers in the wind to see which way it is blowing. 

You do not need rocket-science economics to understand why this is happening: there is an election this fall and after years of wage stagnation, some voters will respond approvingly.  The question I always ask minimum wage proponents is this: why stop at $10/hour?  Why not make the minimum wage $25/hour or higher so that all workers could have a middle class standard of living?  Or at least those workers who still have jobs. 

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