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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (10605)	3/22/2004 9:54:37 AM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 110194

Most jobs in the U.S. pay more than the minimum wage. A low minimum wage, however, does not necessarily protect jobs, nor does it reduce overall costs. Families whose chief workers earn the minimum wage generally qualify for Medicaid, food stamps, and other public assistance. Raising the minimum wage can REDUCE dependence on other public programs, thereby REDUCING government budget outlays. Since corporations pay taxes, and since taxes are used for programs like Medicaid and food stamps, a higher minimum wage doesn't really increase overall costs and may actually be more efficient when you consider the size of the federal, state, and local bureaucracy that administers these assistance programs. Art