If ya can’t beat ’em….out promise ’em?
That seems to be the thinking behind Democratic presidential candidate Tom Steyer’s latest proposal. The billionaire wants to, if elected to the White House, raise the minimum wage to $22.
According to Fox News, Steyer made the announcement Sunday while campaign in South Carolina.
I can’t imagine Bernie Sanders is going to be too thrilled with this one. The Vermont senator has been a big proponent of raising the $15 minimum wage to $15.
Sure, raising someone’s pay sounds like a great idea but who wants to pay $11 for a burger from McDonald’s or $8 for a gallon of milk? And that’s even before considering the number of jobs that are likely to be lost if such a policy is actually implemented. Let’s remember, if small businesses are forced to pay less skilled, less experienced people such a wage, guess who won’t be hired? A business will only keep essential people or find other ways to make the numbers work in order to survive the government mandate.
Raising the minimum wage always sounds like a terrific idea intended to help those on the lower end of the socio-economic scale but it usually ends up hurting them.