Raising the minimum wage is a bad idea — period. Here, Herman Cain explains the negative effects of such policy.
Some minimum wage facts:
1) The minimum wage was never intended to be a living wage — it’s a starting wage.
2) Mandating the minimum wage will make some people either lose their jobs or not get starting jobs.
3) Increased supply of workers, decreased demand for workers.
4) Inflation increases.
5) Decrease of understanding that it’s working harder and longer that earns success, not artificial government boosts.