Raising minimum wage would disrupt economic balance
Regarding the governor candidates’ positions on the minimum wage, I just read today that Seattle plans to raise its minimum wage to $15 over several years.
Anyone looking for employment in New Mexico and many other states knows that the prevailing wage is $8 – $18. Those with a degree are typically on the high end of that scale. I know many people with four-year degrees working in coffee shops and similar lower-wage jobs.
The solution is not raising the minimum wage to the point where the non-degreed and degreed are at parity with income, especially when graduates are saddled with huge student loans.
We need a government that sets an environment friendly to business. Anyone with a brain knows companies don’t pay taxes. They pass the cost on to customers. But I hear the slogan “companies should pay their fair share.”
Companies and those known as the ‘1 percenters’ will just move their money to tax-friendly areas. Affluent people are renouncing their U.S. citizenship to avoid high U.S. taxes.
These candidates and the ill-informed will keep driving money out of the economy until it’s all gone.
Daily Lobo reader