You cannot legislate a living wage
Minimum Wage
What is it about the mention of a minimum wage increase that causes normally rational people to lose their senses?
It sounds great, everyone should make a "living wage". Here's the problem: take a McDonald's Happy Meal for instance. A raise in the minimum wage would cause the paper company to raise the cost of the box, the farmer to raise the price of his meat, potatoes or apples, and the trucking company to raise the delivery cost.
Now the price of every single thing we buy is up-including the Happy Meal. Unemployment benefits rise so taxes increase. And guess what -- that newly set living wage isn't a living wage anymore.
You cannot successfully legislate a living wage. A healthy free market will automatically adjust wages as the need for workers increases and there is competition for the worker's labors.
Gerald Manegold
North Port, FL
View Comments
