The Feds increase minimum wage again

It seems that every so often in the current administration, that they keep wanting to increase minimum wage again. This time is no different.

I believe that there would be benefits to increasing it, but only if certain conditions would occur:

  1. If the increase is over 5 years since they’re talking about an increase from $7.25/hr to $10.10/hr, allowing business and consumers the opportunity to adjust their spending habits
  2. Limit increases to maximum welfare and other subsidies – forcing people to not view unemployment and/or welfare as the easier and less costly way to "earn" money
  3. What about taxing welfare benefits? – yes, I am aware this could cause double-taxation issues, but what about taxing the benefits above the level that you have put into the system

I believe that most of the folks that are currently on welfare/unemployment/SSDI are there because they truly cannot get jobs, or are in some way incapacitated so that they depend upon those necessary subsidies.
Keep in mind that I did increase my income several times by 50% or so over a few years, however I had to show that I had built up the knowledge and ability which allowed the company to increase their revenue stream by even more than my increases that occurred. I guess one could say that if the company could increase their prices on the products that they sell by 5% or more without degrading sales by very much, than the employee could get an increase like that.
If you look at some of the information on statisticbrain.com (http://www.statisticbrain.com/welfare-statistics/), you’ll see that there are several states where welfare recipients earn far more than the Federal Minimum wage. That really creates a situation where it makes almost no sense to get off welfare once they are on it.
I put down #3 above because I believe that if a person is on welfare for their entire lives, or even worse several generations are on it for their entire lives, then it is simply handouts that were neither earned by that individual or family, and thus cause a reason for not trying to earn more, since the check will be coming every month anyway. Sweden does this currently I believe as I’ll take a note from this Forbes article regarding that information.
There are plenty of folks that have the drive to earn/do more in order to progress themselves higher up the ladder because it is somewhat of a natural instinct in us. IMHO there will always be a poverty level, and a middle-class, and an upper class. Those classes have lasted for hundreds … if not a thousand … years.

Guess I should step down off my soapbox now, since it’s getting late and I need to get some sleep. But I would like to ask, what is your take on the minimum wage hikes that are being suggested?

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