Getting the Minimum Wage Right
Although US President Joe Biden and congressional Democrats didn't manage to keep their proposed $15 hourly minimum wage in the recent stimulus package, they remain fully committed to the policy. But before they move ahead with the proposal again, they should consider some obvious ways that it might be improved.
WASHINGTON, DC – Proponents of a higher minimum wage are well-intentioned in their effort to help low-wage workers. But whether a higher minimum wage would help most workers is debatable. Though it would raise wages for some, it would leave total compensation for others the same and reduce to zero the wages of those who lose their jobs as a result.