RAISING THE MINIMUM WAGE IS NOT A JOB KILLER
I have to laugh whenever a conservative politician says raising the minimum wage will be a “job killer.” They never say why. Is it because an increase in the minimum wage will take a bite out of profits.
Someone once said," If Republicans and industrialists in this country could get away by paying us nothing; they'd do it tomorrow morning". For them, having to pay no one who works for them is a capitalist nirvana. Economic theory teaches us that under capitalism, there is a guaranteed group of poverty stricken people who will always be crawling through the debris of junk yard capitalism, a landfill littered with little or no job opportunity.
We haven’t raised the minimum wage nationwide. Only a few states have done it on their own. They weren’t worried about killing jobs. Capitalists aren’t creating new jobs anyway and those they profited from were due to overseas outsourcing. If the theory holds that jobs won’t be created by raising the minimum wage, then it also postures that lowering the minimum wage would create more opportunity. Ever since we were crushed by the worst depression in decades, cutbacks and layoffs are the new norm, not job creation. With profits soaring to the upper 1% of income earners, who don’t spend their money, but shove it into their savings or invest in growth funds, the idea that this moon size pile of money will trickle down to the rest of us and stimulate the economy, create jobs, and offer more opportunity is nothing more than capitalist propaganda.
Why would private equity managers create jobs? That’s not their mission. Their job is cutting jobs down to the bone to increase profit. Why would entertainers open up manufacturing outlets in this country? What do pro football players and other sports multimillionaires do with their money besides open restaurants or bars that are soon abandoned for more profitable ventures, none of which create jobs, just more wealth?
Creating, and preserving wealth, has little to do with creating jobs. Ever since the year 2000, the wealthiest, the richest in this country have seen as much as a 30% rise in their incomes compared to the rest of wage earners which have seen gains as small as 1.7 %
Raise the minimum wage. It’s not a job killer. It’s a life saver for all of us, rich or poor.