“Raise the Minimum Wage so people can afford more stuff…or not”

Recently, I overheard two individuals passionately discussing the need to once again raise the minimum wage at my favorite coffee spot. I was floored with the total disregard of basic economic and accounting understanding that these two individual showcased yet I was engaged when it came to their arguments on why it is ever so necessary during this ‘economic recession’ that the federal minimum wage be once again raised. I posed this question to them; “Why is raising the minimum wage a continually theme when it comes to political rhetoric…why can’t we just find a rate and stick to it?” The response I received was anything but inspiring: “It is because the corporations keep raising the costs of goods…how is someone supposed to cover rising expenses when their wages are not in lock step with the cross the broad price hikes.” I went on to explain that in is this current Fed Rate predicament raising the minimal wage would only height the inflationary concerns that is becoming a growing specter on the horizon and went on to explain how raising the minimum wage correlates perfectly with a rise in the COGS (cost of goods sold) of a business leading to a potential rise in the (drum roll please) price of goods.

These two individuals responded with an in stereo response of: “I never thought of it that way.” I concluded that this theme is a theme that is part of many that our politicians continually blast the American public with; “Vote for me and I will give you goodies.” We need to realize our government is not our keeper and we should not elect officials who make promises or enact policy that does nothing for the republic and are only designed to foster their individual goals of garnering votes to gaining more power for themselves.

“Ask not what your country can do for you but what you can do for your country” ~President Kennedy

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