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Minimum wage beneficial
Sue Lani Madsen argues (Feb. 13) higher wages won’t increase the amount of money in circulation, noting her mother will spend any money she doesn’t pay her daughter for chores. Is this true on a larger scale? Note overflowing corporate coffers and soaring stock markets: money not being “spent” into circulation.
While a higher minimum impacts only 84,600 minimum wage workers, a higher minimum does apply upward pressure to the wages of the other 79 million hourly employees.
Higher prices might eliminate benefits of an increasing wage floor, but I sure felt better with even a 10 cent raise 50 years ago. And I could afford more, even college.
Wise employers will not resort to layoffs, rather they will maintain workers, supporting customer service, and be stronger in the long run. While 700 restaurant workers may have been laid off due to a higher minimum wage, the Seattle population and density continued to grow, creating even more jobs.
If the lowest paid must improve their skills to reach that higher bottom rung, as she suggests, isn’t that a good thing? Minimum wage: not a barrier, just a floor.
Kim Anderson
Spokane