Sticking it to Low-Skilled Workers

By John Stossel

In the first hundred hours of the just-started session of Congress, the new leadership promises to raise the minimum wage. The Democrats won't be opposed by many Republicans. President Bush says he'll go along with a higher minimum wage if it's coupled with tax and regulatory breaks for small businesses.

Raising the minimum wage is definitely popular. Voters in six states approved higher minimums last Election Day. State politicians in both parties are practically drooling with eagerness to "help" lower-income workers. After all, how can you call the current minimum, $5.15 an hour, a "living" wage? Who can live on that?

We all want the poor to make more money. So if government can raise wages by decree, why are the popular proposals so stingy? What good is a measly buck or two extra? Let's really do something for the poor. Let's raise the minimum wage to $20 an hour. Even better, $50!

Or maybe we should take a deep breath and think like economists for a change.