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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (321351)1/17/2007 1:55:30 PM
From: Road Walker  Read Replies (1) of 1574024
 
re: All this talk about the minimum wage generally misses a key point. The proponents of a higher minimum wage must argue either (a) that the market is undervaluing (through some inefficiency) low wage labor, or (b) that the labor is correctly valued, but that the minimum wage is an effective method of artificially redistributing income to lower paid workers.

If (a), then it must be argued not only that low-wage labor is undervalued but also that the United States federal government - in its infinite wisdom - is better at valuing it than the market. I find this hard to swallow.

"A" is correct; the inefficiency is the 10,000,000 illegal low wage workers that are allowed to compete for low end jobs. And yes the federal government "in it's infinite wisdom" is to blame for not enforcing the current laws.
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