$15 minimum wage
Despite the comments by learned economists in the Feb. 17 edition of The Express, it seems to me that there are some potential problems with the proposed federal minimum wage increase to $15.
Perhaps I am looking at it too simplistically, but doesn’t it seem reasonable that the supervisors of the people doubling their pay will want an increase as well.
Who pays for this?
Will the cost of the goods and services increase?
Will there be a reduction in employment?
Who wins? Perhaps one outcome would be that the real winner will be the state and dederal government since with increased wages (at any level) the tax revenue will increase.
That is of course from those with an income. Those on Social Security or fixed retirement income will not enjoy the same rate of increase.
So, I suppose their reduction of income is supposed to balance the increase of those who “benefit” from the increase.