Obama right to boost minimum wage
The Kansas City Star
Increasing the minimum wage always results in a political fight between those who think it will hurt business and result in fewer employees and those who want to improve the standard of living for workers.
Helping workers earn more benefits the economy in the short and long run. They then have more to spend on clothing, food, transportation and better housing and will gladly use the extra dollars for the right purpose.
Most baby boomers who’ve aged out of minimum-wage jobs can remember making a buck-sixty an hour in 1968 or $2 an hour in 1974 and then $2.10 in 1975, jumping to $2.30 in 1976 and $2.65 in 1978. Those were the days. Every increase seemed like found money.
President Barack Obama’s proposal to boost the minimum wage to $9 an hour by the end of 2015 from $7.25 would tremendously help younger workers and families. Tying the increase to the consumer price index also would help.
As the minimum wage rises so, too, is it likely that wages for higher paid workers will go up. That has to be good for the economy.
Baby boomers also need to look at this selfishly. Many who are being bounced out of good paying jobs now will likely end up in minimum wage work just to keep the wolf off the door.