Subject: Why Not a Really, Really BIG Minimum Wage?
Date: Wed, 11 Apr 2012 10:47:07 -0400
Re: Raising the Floor on Pay
I am surprised at the modesty shown by all those clamoring for an increase in the minimum wage. If raising the minimum wage would improve the standard of living of all those currently employed at low wages and pay for itself by stimulating demand, then why not ask for a really, really BIG increase? Statisticians say that it is difficult for a family of four to live decently on less than $50,000 per year, so a minimum wage of $25 per hour seems appropriate. But, wait! Why be so modest? Lets raise it to $50 per hour and put everyone in the country on Easy Street! This is America; we can do anything! Surely the laws of economics do not apply to US!