The idea of raising the minimum wage – in Polk County, Iowa, or anywhere, is an emotional issue. Wouldn’t it be nice if everyone earned a “living wage”? On the logical side, just remember that raising the minimum wage will result in more people not being able to find work – especially the least skilled workers. Also know that it will put upward pressure on prices that will further raise the cost of living – which will put more political pressure to further raise the minimum wage. Increasing the Earned Income Tax Credit (EITC) is a better idea. It is paid for by all income tax payers and targets those who have real need, without putting further upward pressure on prices.
