Raising the minimum wage has been the topic of much debate. For several years now, President Obama has urged the wage be raised. The new desired minimum wage is $10.10 (up from the current $7.25). In general, the Left supports raising the minimum while those on the Right do not.
I’m sure all those reading this have an opinion on this subject, and I doubt you’ll be surprised where I come down. In my view, the best thing for those employed in minimum wage jobs is to have a thriving economy. In a thriving economy, many jobs are available and wages will rise for all jobs. Forcing wages up via government mandate will not accomplish the desired results.
Indeed a new study released by the Georgia Restaurant Association shows that an increase in the minimum wage to $10.10 would…
…eliminate 21,460 jobs – nearly half of which are held by women. According to data from the Census Bureau, the wages of approximately 60,562 state and local employees would be affected by a $10.10 increase in Georgia, for a combined cost to taxpayers of over $164 million annually.
“As our state’s economy begins stabilizing and adding jobs, now is not the time to prevent hiring and squeeze business owners already razor-thin bottom lines,” said Karen Bremer, executive director of the Georgia Restaurant Association. “We should focus on commonsense solutions that create jobs and promote opportunities for workers of all experience levels. Across the board wage increases will hurt those who need help the most.”
The full GRA press release as well as the study is below the fold.
So what about this? Is raising the minimum wage a good idea or not? Discuss.