While many think a higher minimum wage will put more money in Americans’ pockets, in reality, it will empty those wallets, as restaurants and other industries are forced to raise prices to cover the increasing labor costs, says financial expert and national radio and television host Dan Celia, who leads Financial Issues Stewardship Ministries (FISM, www.financialissues.org).
“Donald Trump has it right—the minimum wage needs to be set by the states, not the federal government,” Celia recently wrote in a column for Townhall Finance. “Some time ago, after the minimum wage increased in California, I wrote an article expressing my amazement that nothing had been learned from what happened to the state of Washington, where the minimum wage climbed higher and higher. It wasn’t a pretty picture. In the same article, I predicted that fast-food restaurants and other industries would soon be using more automation to eliminate jobs—and that began happening almost immediately.”
Celia added that the minimum wage was never designed for anyone to raise a family or to live on. It was designed as a stepping stone—an entry place into the workforce to help young people hone their skills and then find opportunities to move up. Now, some see an increase in the minimum wage as the only way to replace those lost opportunities.
“The Obama Administration has removed any opportunity for people to move up to the middle class because it’s been annihilated,” Celia said. “So now Obama—and the Democratic candidates—see an increase in the minimum wage as the only way to replace that opportunity. This economically inept ideology that has permeated Washington is front and center on the Democratic side of the presidential race. These candidates must be banking on most of the American people being as ignorant now as they were in 2008. A federal minimum wage will never help the economy. It will never create more and better jobs—in fact, it will do just the opposite.”
Celia addresses important financial headlines and takes calls from around the country on his daily radio and television program, “Financial Issues,” which airs on more than 600 radio stations. The program is also seen on the National Religious Broadcasters (NRB) television network, reaching 45 million households, and BizTV, which reaches millions more in major markets.
For more on Financial Issues Stewardship Ministries, visit its web site at www.financialissues.org, itsFacebook page, the YouTube channel, Financial Issues with Dan Celia or its Twitter feed, @financialissues.
To interview Dan Celia of Financial Issues Stewardship Ministries, contact Jen Retallick, 610-584-1096, ext. 100, Media@HamiltonStrategies.com, or Deborah Hamilton at 215-815-7716 or 610-584-1096, ext. 102.