Tag Archives: Economy

Democratic/Progressive economic short-sightedness

U.S. Coins and Paper MoneyOver the past year, the Democratic Party has again insisted that minimum wage must be raised to keep up with current inflation and the cost of living. Citing that minimum wages have not been increased since 2009, many of the supporters calling for the increase in minimum wage claim that such a hike in the minimum wage would allow workers to help themselves out of poverty and reduce the dependence on federal and state welfare support programs. Unfortunately, raising the minimum wage will not end poverty, reduce dependence on welfare programs or even allow for economic mobility of the nation’s working poor. In fact, raising the minimum wage will actually have the opposite effect.

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