Now is the Perfect Time to Dump the Minimum Wage
In light of the recent presidential election and our current economic crisis now is the perfect time to eliminate the minimum wage.
Electing an African-American in Barack Obama has shown that the United States has made great strides in overcoming our racist past. The minimum wage laws were instituted by early Progressives to keep Blacks from finding work. The very notion that minimum wage was originally a weapon of hatred should be enough to have it axed from the law of the country.
We also know that minimum wage creates a “wage floor” as they say in economics. Floors of any kind create excess supply, in this case excess labor. In a time when unemployment is climbing, what better thing to do than eliminate a law and increase the number of jobs available.
Lastly, who are the companies doing well in this economic downturn? Walmart and McDonalds… both well known for their large work forces of low-wage teen-age workers. What could be a better stimulus to these successful companies than to make them able to hire even more workers?
Minimum wage is a joke. It was founded on hatred. It’s not a living wage – no one could live on it. It’s only a political ploy that hurts teenagers and helps politicians get re-elected. Minimum wage needs to go.