Minimum wage opposition
The recent House of Representatives blunder of increasing the minimum wage has fortunately hit an obstacle in the Senate. I'm happy to say that the opposition is not only from Republicans, but significantly from Democrats such as Harry Reid (D-NV). Despite passing easily in the house, as one of the "first 100 hours" initiatives that Democrats promised, Senate Democrats are refusing to pass it without an accompanying tax break for those who employ low-wage workers.While I'm glad that this bill is currently in trouble, I think it is for the wrong reason. The minimum wage is the worst thing for the poor, according to Milton Friedman. It promotes inflation, which negates itself and hurts those earning more than the minimum wage. I think other initiatives would provide a more sound benefit, such as employer credits for each new employee over the next 5 years (which would promote the creation of new jobs), or simply instituting a tax break without meddling with the minimum wage...Allow the free-market and the invisible hand to set the wage, not bureaucrats in Washinton.






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