Minimum Wage
Understanding the basics and impact of minimum wage laws
Minimum Wage
What is minimum wage, who sets it and why is it important?
Minimum wage is the lowest legal pay for workers, set by the Federal, State and Local governments. It helps ensure workers earn enough to cover basic living costs in a capitalist economy that often favors the employer .
What is the Liberal position?
Liberals support a very high minimum wage that ensures workers get the most out of their labor, particularly in jobs that would otherwise pay less due to the inherent power imbalance between employers and workers. They argue minimum wages have historically been too low and should be raised rapidly to keep pace with costs and inflation, with higher minimums in areas where the cost of living is higher.
What is the Conservative position?
Conservatives often argue there should be no minimum wage, or that it's already set too high, claiming it hurts businesses (especially small ones), drives up prices, fuels inflation, and eliminates jobs for low-wage workers.
In a capitalist society, the balance of power during wage negotiations very often favors employers, especially in right-to-work states. The federal minimum wage hasn't kept pace with inflation in many years and should be raised immediately. States and local governments have generally done a better job adjusting minimum wages for inflation. Centrists believe a gradual increase in the minimum wage, scheduled years in advance, is the best approach—allowing workers to meet their needs while minimizing the impact on businesses and giving them time to plan for the increases.
What is the Moderate position?
Understanding Minimum Wage
A clear look at how minimum wage impacts workers and communities every day.
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