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New York Times editorial board endorses abolishing the minimum wage all together

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  • New York Times editorial board endorses abolishing the minimum wage all together

    The Right Minimum Wage: $0.00




    Raising the minimum wage by a substantial amount would price working poor people out of the job market. A far better way to help them would be to subsidize their wages or - better yet - help them acquire the skills needed to earn more on their own.

    An increase in the minimum wage to, say, $10.10 would restore the purchasing power of bottom-tier wages. It would also permit a minimum-wage breadwinner to earn almost enough to keep a family of three above the official poverty line. There are catches, however. It would increase employers' incentives to evade the law, expanding the underground economy. More important, it would increase unemployment: Raise the legal minimum price of labor above the productivity of the least skilled workers and fewer will be hired.

    If a higher minimum means fewer jobs, why does it remain on the agenda of some liberals? A higher minimum would undoubtedly raise the living standard of the majority of low-wage workers who could keep their jobs. That gain, it is argued, would justify the sacrifice of the minority who became unemployable. The argument isn't convincing. Those at greatest risk from a higher minimum would be young, poor workers, who already face formidable barriers to getting and keeping jobs.

    [....]

    The idea of using a minimum wage to overcome poverty is old, honorable - and fundamentally flawed. It's time to put this hoary debate behind us, and find a better way to improve the lives of people who work very hard for very little.


    Be sure to click here to find the one single item in this quotation that I have changed.
    Last edited by Adam; Thursday, February 20, 2014, 4:12 PM.
    It's been ten years since that lonely day I left you
    In the morning rain, smoking gun in hand
    Ten lonely years but how my heart, it still remembers
    Pray for me, momma, I'm a gypsy now

  • #2
    Wow...interesting.
    Not where I breathe, but where I love, I live...
    Robert Southwell, S.J.

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    • #3
      Alternatively, Washington could enlarge the existing earned income tax credit, a ''negative'' income tax paying up to $800 a year to working poor families.
      Been there done that.
      Enjoy.

      Comment


      • #4
        LOL! I guess that's an example of why it used to be 'the paper of record'. You know, back when they hired people with functional intelligence.
        "Alexa, slaughter the fatted calf."

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