Though it sounds good in theory, many conservatives view minimum wage laws as an impediment to the free market system. Nevertheless, Congress continues to demand that employers pay unskilled workers at an increasingly high rate.
Since 2007, the national minimum wage has been $7.25 per hour. A group of Democrat legislators recently advanced plans to address the issue, including a proposal by Iowa Sen. Tom Harkin that would raise the hourly rate by almost 40 percent to a staggering $10.10.
Furthermore, wages would be directly influenced by the rate of inflation under Harkin’s proposal.
Not only would this cut deeply into the already thin profit margins of small businesses; it would force companies to make cutbacks and curtail hiring in many cases.
The Democrat senators met Thursday to kick around a few ideas, emerging from the conference with plenty of reasons to further besiege the private sector.
Senate Majority Whip Dick Durbin called a rate spike “long overdue” as fellow senators touted the fact Barack Obama is on board with the initiative.
