Raising the minimum wage has historically hurt lower income folks and budding entrepreneurs far more than the wealthy. Raising the minimum wage has been shown to immediately impart a consumer-price-inflation more than the wage is risen for minimum wage workers. So, the politicians who are peddling the minimum-wage-Utopia to the poor are really providing a disservice to their lower income constituents. Why does raising the minimum wage hurt the poor more than the middle class and the well-to-do? Because when the minimum wage is raised, everyone right up the wage scale wants a percentage raise commensurate to the raise given to minimum wage earners. What that means is, raise the minimum wage from $7.25 to $10.10, and that’s roughly a 39% increase. So, if you’re making $10 an hour today, you’re going to demand a raise to $14 an hour. You may not get it, but the discontent your wage-desire fosters will lead you to find other work that does pay as much. “Who the heck needs a stinking minimum wage job?” Right? Well, if we raise the minimum wage to $10.10 an hour, a lot more people are suddenly going be making minimum wage, and feeling disgruntled like so many minimum wage workers. And similarly, if you make $20 an hour, you are going to demand a raise to $28 an hour. Etc., etc. A plumber who gets $50 an hour, is going to demand $70 an hour. Etc. etc. This domino-wage-demand progression started out with a gain of $2.85 for a minimum wage earner. Look how much more everyone else is going to end up demanding and getting! Now, consider the inflation all that new wage-money is going to impart to the economy. How far is the minimum wage earner’s hypothetical $10.10 an hour going to go when all the new wage-money gets into the consumer economy and imparts its full inflation effect? That’s right. The minimum wage earner is further behind than ever. That can be shown to be the truth, if we study the history of raising the minimum wage. And, employers are less happy with minimum wage workers than ever. “They’re not worth half what I have to pay them!” Imagine, if you’re an entrepreneur, how likely are you to hire on new employees at $10.10 an hour? That’s right. There’s an ever-larger hiring-barrier being erected that discourages entrepreneurs from hiring when the minimum wage is raised. In fact, the lower classes would be better off, and the economy would be better off, and social mobility too would be enhanced, were we to get rid of the minimum wage altogether. Face it. From the viewpoint of an entrepreneur, some people are not worth paying minimum wage. It’s not greed. That’s just simply the truth. Making a business run well enough to survive is not rocket science. You can understand it without entering the risky, entrepreneurial waters yourself. Justifying hiring someone is just a matter of measuring whether the workload can be pulled enough faster, to make the expenditure justifiable. If it’s not justifiable, you’re not going to succeed in business. Not convinced? Then imagine how many people would be hired by entrepreneurs next month, were the minimum wage raised to $110 an hour. That’s right. None, or very-very few. -Those workers just starting out are being hurt by the minimum wage.- A job is a place where workers can learn skills that will allow them to command higher wages in the work-marketplace. And, because entrepreneurs don’t (take the risk and) hire as many workers as they would absent a minimum wage, fewer workers get the chance to work, and thus increase their skills and their potential earning value. We can greatly alleviate the unemployment and welfare problem in this country by getting rid of the minimum wage completely. Raising the minimum wage, is going to be the equivalent of putting up a sign in front of most places of employment that says, “NO WORKERS NEEDED”.