It's been well publicized in the news that President Obama wants to raise the minimum wage, and the most recent statistic says that 43 million Americans support this.
My opinion on this is that it's a bad idea. Of course no-one wants to make low wages, but when the Federal Government asks businesses to raise one figure, there's bound to be a wealth of negatives to come from it. First, most companies pay low wages, and have as many employees as they can, to get the job done. If the minimum wage increases, it won't stop with just the lowest paid people in these companies. The ones who are making slightly above minimum wage, and all the way up the ranks will also want to have raises so that they aren't at or near the minimum number. This will cause possible strikes to improve the other people's salaries, and when that happens - there will be a decrease in jobs to pay for these improved salaries while also the companies will charge higher cost for their goods or move production to other lower paying countries.
The cost of everything American-made will raise. And the cost of foreign goods will stay at lower, more easily affordable costs.
How is all this prevented? It's not in raising salaries. I believe the better solution is to lower wages from the top down, and with them, lower the cost of goods and services. Rents and mortgages are at exhorbitant levels. Food prices are more expensive than ever before. Yes, it's expensive to live - why not level things out by changing the dollar system?
I admit I'm not an economist, but I can only see our country being destroyed by these continued raises - so why not do something different? why not start over? Let's make our products and services affordable so that we don't lose more jobs to foreign countries.
That's my thought. And I may have plenty of ney-sayers - but, I'm sure that outside of the 43 million, there are still plenty who can reason out what every increase does to harm our country.
