Minimum Wage Options

[*Steven*]

It's being raised, I think it's a dumb idea. What are your thoughts on the matter?

The minimum wage in Texas is 5.15$/hr. They're raising it to 7.25$/hr over the next 3 summers. I think that's kind of, unnecessary. For one, the majority of people making minimum wage are young high-school students etc. They don't stay making this wage for very long, and it's typically a starter job in which they make this money. By raising the minimum wage, no one (imo) benefits. The prices of goods go up because the employers are having to pay their employees more money and don't want to lose profit. Because of this, every day goods prices have gone up and people who don't benefit from the wage increase have to pay a larger sum of their salary/paycheck towards those every day goods. The people who are getting a higher wage (assuming they were working minimum) don't earn any more money in comparison to what they can buy. Sure the dollar amount is higher, but they have to spend more.

[NoSex]

Your off on a few things and you're missing a few points, Steve.

First of all, adults (20+) make up about 70.8% of low-wage earners who would be directly affected by the wage increase. Not two percent, not a minority, but a majority of low-wage (near minimum wage) workers are adults. [1] So, the affected parties are parties which need money. Many of these people have families which need support and which fall below the current poverty threshold.
Secondly, you are completely ignoring the real term decrease in the value of minimum wage due to inflation. The minimum wage today is actually lower, in real terms, than it was in 1968. Today's minimum wage is merely 65% of the 1968 wage: This is a problem which needs to be addressed. The cost of living has risen, and we're actually making less than we were four decades ago! We need to adjust for these economic changes and return purchasing power to the minimum wage. [2]
Further, you are ignoring a history of wage increases which never saw economic downfall or trouble. In fact, our most dramatic wage increases never negatively effected the job market. Employment continued to rise, and business wasn't significantly hurt.
And, lastly, you are ignoring the dynamic of supply and demand. Sure, cost is a factor, but prices will meet at an equilibrium which will be adjusted appropriately and accordingly. The cost may lower the supply, but demand will rise which will feed the economy and support a greater supply in effect.

Really, I use to be in the same boat you were, but when recognizing the increasing gap between those in the lower income-earning brackets and those in the middle class and wealthier classes, when you realize that people are still under the poverty threshold despite working full-time, and when understanding the eroded value of our current minimum wage it really only makes sense to support an adjusted and gradual increase in our wages. It'll stimulate the economy and help those who can barely feed themselves.