By: Lawrence MessinaAssociated Press
February 19, 2013
Some extra land was discovered Feb. 12 within the 3.79 million square miles of the United States. It was the common ground found during President Barack Obama’s State of the Union address.
The president proposed raising the federal minimum wage from $7.25 per hour to $9 an hour by 2016 and linking future increases to inflation.
Obama argued this could benefit employers.
“For businesses across the country, it would mean customers with more money in their pockets,” he said during the speech.
His logic is this: Business owners would get a boost from the economic impact that would result from putting more money into the hands of more Americans.
This is the exact argument conservatives are making in regard to lowering tax rates. This is the common ground.
There’s another aspect to the president’s stance.
“Corporate profits have skyrocketed to an all-time high,” Obama said. “But it’s also true that for more than a decade, wages and incomes haven’t gone up at all.” …
So, we can agree that getting more money in the pockets of Americans would be good for the economy, not to mention the citizens. But how should that be accomplished? Get employers to raise wages? Or reduce tax rates? …