The Meridian Star
MERIDIAN — Wage increase a Catch 22
An article concerning increasing the minimum wage to $12 was in Sunday's, Jan. 12, 2014 Meridian Star Newspaper.
This is not only an interesting, but very controversial, subject. Why is that? Because, this subject is also a financial trap, or as they use to say, a Catch 22. Let me explain why.
Whether you are an employer or an employee, and no matter what your trade, job or profession, all people are always trying to make or earn more money. If you are an employee, you should always be trying to do your best at your job in order to prove to your boss or employer that you're worth more money.
On the other hand, if you are an employer, you are always trying to do your best to make more of a profit through your employees for your business. Because, all employers recognize, or should recognize, that they may own their business, but they too have to buy goods from other businesses for themselves and their family. Now, that's one side of the coin. So, let's look at the other side. Now, everyone is a customer, and they are buyers. But, as a buyer, you want to get the best product for the best price. So, ALL BUYERS want to save money. So, here is the FINANCIAL TRAP, THE CATCH 22 or an OXYMORON.
How many times have you, or heard someone, complain about how much you wanted or needed to make more money, or complain about how much things cost. The fact is, if the wage is raised to $12 an hour., that $6 hamburger at Hardees that only cost $3.99, will in time actually cost $6 or $8. And, the price of regular gasoline will increase about 40 percent to 50 percent, or $5-$5.50 a gallon.
It is a dog eat dog world out there. The higher wages go up, the higher the cost of living goes up. Believe me, there will never be a time whereby your cost of living will be only a small percentage of your wage. The wealthy and politicians, Democrat or Republican, have always thought to propagate the noble idea of helping the poor, those who make less than $50,000 a year for VOTES. When in fact, whenever the wages/cost of living increased, the wealthy got richer. That's my opinion.
Floyd T. Killebrew, Jr.