Letters to the Editor
October 14, 2015By Seattle Business Magazine
The Minimum Wage
John Levesques final analysis column on the $15 minimum wage in the September issue was a nice article, but I think it would be more powerful if he gave more space to the effects on our economy of lower-middle-class and poor workers having more money in their pockets versus having that same money continue to accrue to the very wealthy.
The poor will inject any new monies directly back into the consumer economy, generating jobs and growth. The wealthy will seek some promising investment opportunity, with way slower effect if any on jobs.
It is in the economic interest of the bottom 95 percent for the poor to have more spending capacity. The fastest, most efficient way to accomplish this is with a higher minimum wage. Any proposal for higher taxes on the wealthy will be deflected by lobbyists. This economic argument takes the issue out of the social justice realm, where opinions tend to be prepolarized and not very open to reconsideration.
Northwest Sales Manager, Lasertronics
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