I don't know a lot about economics, but I see a major problem with increasing the minimum wage country-wide. The problem is that first of all, the jobs that are paying minimum wage are not worth what they're paying in the first place. They are entry level jobs for kids who need to get on their feet in the job market. If these jobs start paying more, they will simply raise prices for products that are already over-priced, and inflate the cost of living as a whole. For middle-class people with middle-class incomes, this is bad news, seeing as the middle-class people will not see raises that cover the same cost of living increase.
This is simply going to screw up more than it solves, because the politicians want to have the apperance that they're helping the public, when they're really just destroying our economy. Of course, the general public doesn't see it this way.
Correct me if I'm wrong, but from what little I do know of how things work, that's my hypothesis.
This is simply going to screw up more than it solves, because the politicians want to have the apperance that they're helping the public, when they're really just destroying our economy. Of course, the general public doesn't see it this way.
Correct me if I'm wrong, but from what little I do know of how things work, that's my hypothesis.
