The Democrats have finally decided on the fair, just minimum wage — $12 per hour. But they fail to make one important point in favor of their demand. Recall the tale of the diligent robbers who spend a weekend drilling into the vault of a posh jeweler, making off with millions in bling for their labor. Commenters, this Gleaner included, failed to mention that the creation of half-dozen new millionaires must raise average incomes in Britain, where the theft occurred. So with an increase in the minimum wage. By mandating a raise from $7.50 per hour, liberals will be adding $4.50 per hour to the pay packets of the beneficiaries of their plan to add to national wealth. Unfortunately, the Fed, which itself creates billions in national wealth by the simple act of printing money, is not likely to be an accomplice to the new law. No matter: with all those workers making so much more money, merely by saying “aye” in sufficient numbers, congress can send a bill to the President who, by a stroke of his famous pen, can add billions to the size of our economy. The $15 minimum that some über-progressives are pressing for would create still more wealth. $20 anyone? Surely a model that has been successful from Greece to Venezuela to Zimbabwe is worth emulating.
