NEW YORK ( TheStreet) -- A minimum wage does more harm than good, and yet, we continue to hear from well-intended people that we should raise the minimum wage.
The latest call was in the
Wall Street Journal, which had an opinion piece,
Proponents like Nader always start out their argument the same way: Divert the issue and pull at emotional strings by taking your attention away from the real issue. They choose a highly skilled and complete outlier in pay scale and crucify their hard work and the success that comes from it.
In the process, they essentially say the shareholders and board are too stupid to pay the CEO of their company the right amount of wages and they are overpaying. It's arrogant for Nader to suggest he knows better than the people who actually have their money on the line.The first error I find with Nader's opinion piece is the statement, "President Obama finally broke his four-year silence on this issue by calling for a minimum-wage increase in this year's State of the Union address". That's not entirely true, but Nader can be forgiven for not knowing about Obama's delaying of American Samoa's minimum wage increases.