In a recent letter (“The Jobs Ladder,” Dec. 22) we read about how businesses are being bullied by the big bad leftist wolf who wants to raise the minimum wage.
No single study will settle this issue, but the economic effects of raising the minimum wage are clearly debatable. According to the Center for Economic and Policy Research, economists at Goldman Sachs recently evaluated the experience of 13 states that increased their minimum wage in January 2014. This analysis found that the 13 states where the minimum wage went up had faster employment growth than the states where the wage remained the same.
I don’t believe that the majority of fast-food employees plan to make a career of flipping burgers or cleaning restrooms. Pursuing their dreams and acquiring new skills usually requires an investment in some form of education. One of my daughters “flipped burgers” plus had two other part-time jobs while completing her four-year degree. Underpaying employees and calling it an “incentive to move on” is a self-serving insult to many fine, hard-working people, young or not-so-young. Paying them adequately can make it possible for them to move onward and upward.
The author concludes by challenging the apparently silent “majority of us who should know better” but have “refused to defend capitalism” that has done so much good for so many. Maybe that’s because the richest Americans are more than capable of defending their own interests.
Consider Congress’ recent deregulatory gift to the same financial institutions that brought this nation to its economic knees in 2007, creatively stealing the pensions of millions of Americans, bringing poverty to many.
The writer is a small-business owner