Today’s UT-San Diego editorial represents the height of hypocrisy.
Titled ‘Minimum wage hikes deliver maximum pain to the poor’, it goes on to tell us in no uncertain terms about the terrible things that will follow should Congress act on a bill introduced on Tuesday by Democratic Senators Tom Harkin of Iowa and George Miller of California that would raise the hourly minimum wage from $7.25 to $10.10 — and add an annual adjustment to keep pace with the cost-of-living index.
At the heart of the issue over wages is a business model that relies upon ‘corporate welfare’ either through tax breaks or subsidies (including their labor costs). Aside from the fact that it’s remarkably short-sighted, such a business philosophy also leads to increases in wealth differential. They get richer, everybody else gets poorer. And that’s exactly what’s happening in the US today. [Read more…]