I’m watching the committee hearing in the U.S. Senate that was recorded earlier today. Jared Bernstein, the Directer of the Living Standards Program at the Economic Policy Institute, spoke about his support for an increase in the minimum wage.
There’s a lot that I can complain about in Mr. Bernstein’s testimony. But I’ll just choose one to exemplify my point.
He spoke of a family of four, with one member of the household working a full-time federal minimum wage job, still being below the poverty level at the current minimum wage. I have some questions for Mr. Bernstein:
1) How many families of four like this even exist? (see #6 for a clue)
2) How many of these families’s parents have high school diplomas? College degrees? Vocational training? Education is a key to success in life.
3) How many of these families’s providers have made solid personal decisions their entire lives? (I’m not holding my breath here)
4) Why is it the government’s job to give people who have made poor decisions a pay-raise regardless of their productivity?
5) Why is the government hell-bent on making it harder for businesses to employ part-time work, mostly teenagers who are first entering the job market?
6) Are you simply ignoring the following information from the Employment Policies Institute?
The average family income for employees who would “benefit” from the proposed $2.10 minimum wage hike is $45,558. Why? Nearly six out of seven of these employees either live with their parents or relatives, have a working spouse, or are single and don’t have children.
Virtually all minimum wage employees will see their incomes rise as they increase their value to employers by gaining skills through experience. Analysis of US Census Bureau data shows the median raise these employees receive is six times higher than that of employees earning above the minimum wage.
This traditional growth out of entry-level employment explains why less than 1% of employees above the age of 25 are working at the minimum wage.
7) How do you sleep at night?