Raising the minimum wage was back in the holiday news with protest in several parts of the country. It is an issue that will stay active longer than some would like. The evening news hour on television announced that 19 states will be raising their minimum wage beginning January 1, 2017. The news media interviewed both workers and company executives to air their opinions on the subject.
The executives stuck to the same story they have relied on for many years. That is, raising the minimum wage would cause job lay offs, raise prices, result in loss revenue, reduce profits and etc. and etc. And of course the news media runs with that story and never bothers to be objective for the benefit of their viewers. The fast food industry is a good example. When it concerns wages, fairness is really the issue, just like it is with taxes.
The only way to judge fairness, especially the fast food industry one would have to chart over a period of time a workers wages, raises, benefits(reduced or increased) bonus or extra pay and do the same for administrative people and so called executives. That would tell just how fair they are treating their store workers who are on the front line every day in their quest to make a living. Those workers in the front lines could lose the company a lot of money with poor service and food preparation and are the ones the people see and have to deal with.
Executives who are against raising the minimum wage use the same story line against the corporate income tax rate. They don't like the 37% rate and say it does not allow them to compete. But we know for a fact that the average corporation pays between 12-13% and not 37%. The IRS has confirmed that many times through the years.
Adding fairness to the minimum wage and tax issue has never been addressed in an objective manner and that is why it still remains active as an issue. Cable news has so much time on its hands it could move those two issues forward to a resolution but the news media represents big bucks, so it falls to our political leaders to put the people and the country first on those two issues. That would go a long way in improving the economic well being of the people who need the increase in the minimum wage.
This commentary was written by Joe Lorio
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