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MINIMUM WAGE


The principal argument of business groups against minimum wage increase is the resulting effects on operating cost, which will inevitably lead to an eventual lack of competitiveness - primarily from product price increases to absorb the cost of labor. This in turn may lead to reduced market shares, and in some cases, bankruptcy. In either case, this contributes to lower hiring rate or retrenchment, which will burden the nation even more through unemployment and other ancillary social net mechanisms. A case can also be made that a national minimum wage structure is a precursor to socialistic statism.

Of course, on the flip side, advocates of a national minimum wage increase point out that too often businesses hide behind the profitability argument, ignoring the fact that people must be fairly compensated for their contributions to a company, and should not be expected to sacrifice for large enterprises. Asking workers to accept lower wages is akin to asking the average worker to bear the burden of subsidizing the operating costs of big businesses. There is also the fear that businesses may engage in cartel-like behaviors to set an 'appropriate' wage structure, instead of allowing market forces to naturally determine wages through economic forces.

Federal Minimum Wage
(Legislated under the Fair Labor Standards Act of 1938 and Fair Minimum Wage Act of 2007)

$7.25 w.e.f July 24, 2009

States With Minimum Wage Equal to the Federal Government ($7.25)



States, No Minimum Wages

Alabama, Louisiana, Mississippi, South Carolina and Tennessee

States, Less Than Federal Minimum Wage



States, Higher Than Federal Minimum Wage







 

 


Former Governor of New Mexico

Gary Johnson

Presidential Candidate Gary Johnson

Johnson Position on the Minimum Wage

The former New Mexico governor is against the idea of having a national minimum wage policy, as he feels that a uniform minimum wage rate across the country does not take into account the difference in living costs between regions and its respective local job market, while potentially causing some industries to lose their competitive edge. Johnson points out that a majority of states already have their own minimum wage policy that could be rewritten in the face of new market changes.


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