On May 24, 1937, the FDR Congress enacted the Fair Labor Standards Act, which among other workplace regulations, mandated a 25 cent an hour minimum wage. It has been used as a political wedge among the American people ever since. Creatively, the Proglibocrats now claim that the minimum wage should be a “living wage”, one that could support a family of four. Even a seriously deluded Franklin Roosevelt would scoff at such a suggestion. Yet every election season, the two parties argue the same old argument — higher minimum wage versus loss of jobs. You have be a village idiot not to notice the automation inroads being made in advance of the leftist view by large minimum wage employers like McDonalds and WalMart. They see the writing on the wall. Of course there is job loss when the minimum wage is hiked dramatically.
Frankly, I’m bored hearing about it. Could the politicos please enact my simple solution. Give the minimum wage of today a dollar bump, because it hasn’t been raised for a few years, then index the wage to some measure of inflation. Thus, the minimum wage will forever buy a fixed amount of goods, and we won’t have to hear the politicians pontificate about the obvious any more. WHAT THE HECK !