Look, there’s this little think called the bottom line that most college grads have heard of. It’s the one that says, “Mr. Biz Owner, you can spend $X on labor and still make the type of profit that’s going to keep you in business.” An increase in the minimum wage will do two things:
- Reduce the number of low-level employees businesses utilize
- Raise prices on the goods and services they produce
Fast food, a favorite of the lower-income crowd will cost more and their chances of being de-employed will go up. Where’s the sense in that?
The fact of the matter is there’s already a good-sized gap between the market rate for these workers and the existing minimum wage, as shown by the surge in illegal immigrants working in this country. Upping the minimum wage will only make that gap wider and contribute to the immigration problem.
But the Dems don’t care about that. In fact, they are implicitly in favor of illegal immigration because it increases their voter base.
Ultimately this problem goes back to George Bush’s many failings as the leader of the Republican party. Had the Republican majority held, this bill never would have been passed.