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Wednesday, March 14, 2007

Iowa Voice: What A Surprise: Minimum Wage Hike Hurting Local Business

Excerpted from this post at Iowa Voice
Can't say I didn't tell you so: "...For 30 years, Tenco Industries and other places where soda drinkers take their empty cans have given back a nickel per can. The redemption center then gets six cents from the pop manufacturer. That's a net gain of one cent for the center. But officials said a mandatory increase in Iowa's minimum wage is going to have a negative impact on the non-profit program operated by Tenco. ..." Now, I know this isn't a perfect example, but it just goes to show you the kinds of damage that "feel-good" policies like the minimum wage can and almost always will do to the marketplace when liberals are put in charge of things. When you artificially raise wages, rather than let the market decide, you put an enormous strain on businesses and the people they employ. Yes, it helps for a little bit, but inflation and increased costs always catch back up and you end up being right back where you were before (or even further in the hole).

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Mike Schramm
Andy Szal

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