Minimum Wages

A rising tide lifts all boats.

Higher wages mean prosperity all around.

   Opponents of a higher minimum wage warn of job losses as customers go elsewhere and companies relocate. In theory, this is partly true, but since most people at minimum pay levels work at places such as fast-food chains, it's not likely that customers will travel to an adjacent state just for a burger and fries. And companies will not relocate to areas where there are no customers. In addition, many other companies would not be affected, because they already pay their workers above the minimum. The federal minimum is currently $7.25 an hour, and some states mandate an even higher floor.
   Meanwhile, there are firms that pay their workers so little -- at or slightly above the legal minimum -- that cashiers are unable to buy the stuff that they ring up for customers at the very company they work for. In addition, when these same workers apply for government assistance programs, such as food stamps, it means that government is subsidizing the employers.
   Henry Ford had the right idea when he paid his assembly line workers well above the going rate. When criticized by other automakers for such a policy, Ford replied that as the workers got more money, they were able to buy his cars.