Krauthammer’s compassion for the poor is laudable. But we can’t fix low wages by suspending reality and the laws of nature.
Raising the minimum wage in a system with too many workers relative to productive jobs will inevitably drive up inflation rates, leaving the poor worse off due to higher prices, and further devaluing life-savings of those who have any left. The cost of welfare benefits will rise, pushing the nation deeper into bankruptcy and the day when no ones will lend us anything to hand out. But thanks for paving the road to hell, Charles.
To raise real wages:
1) Make employment productive for employers by removing the heavy disincentives created by government and tortuous lawyers;
2) Stop importing vast numbers of unskilled laborers by controlling the borders and deporting illegal aliens, many of whom expatriate their earnings. Reduce supply, increase demand, viola.
3) Reform the education system so that a greater percentage of the population is capable of creating enough value to pay for their own lives. We must reduce our “carry ratio” (the number of productive workers divided by the population).
4) Eliminate incentives to dependency and adopt “adult responsibility” as the minimum standard for any adult who is not adjudged a ward of the State.
Well put.