Who Actually Supports Minimum Wage Increases?

I’ve discussed a few things going on in the news lately regarding minimum wage, but haven’t actually gone into each party’s position on the topic.  Why are the democrats in favor of raising the minimum wage and why are republicans dead set against it?  I’d like to try and answer a these questions.

Democrats:

The Democratic Party is all for raising the minimum wage and then adjusting it regularly.  The official stance in that no one working full time should have a family in poverty.  As I mentioned before, President Obama has recently called for a $10.10/hour minimum wage nationwide by 2017.

Republicans:

The Republican Party as a whole is against raising the minimum wage, believing it would instead hurt businesses by forcing them to cut jobs or export them overseas.  Republicans also believe it would increase inflation due to businesses raising prices to cover the cost of increasing wages.

Tea Party Republicans:

Although a political movement within the Republican Party, and not a true registered and separate party from the Republican Party, Tea Party Republicans overall have the same stance on minimum wage.  Generally against raising the minimum wage, there have been Tea Party demonstrations recently that are in favor of raising the minimum wage.

There are two major political parties in the United States, the Republicans and the Democrats.  However there are many minor parties throughout the nation that are registered and active.  Two of them have managed to get on the Presidential ticket several times, including in 2012 against Obama and Romney, the Libertarian Party and the Green Party.

Libertarian Party:

The Libertarian Party was founded in 1971.  The party’s official stance holds that an increased minimum wage in turn increases the cost of employing additional workers, adding to poverty.  The goal of the Libertarian Party is to loosen minimum wage laws, to allow business to relax their spending and in turn hire more workers.  This would then, in theory, drive down the nation’s unemployment rate.

Green Party:

The Green Party was founded in 1991.  While they don’t have an official stance on minimum wage, the Green Party wishes to expand voluntary simplicity similar to that of the Amish or Mennonite cultures.  The Green Party’s economic policy is based on community-based economics, using a local currency in addition to the national currency.  The local currency would vary from area to area and would help local communities to drive their own pricing and wages.

There are other factors in an individual deciding their stance on minimum wage.  A person’s religious beliefs could also affect their stance, not just their political affiliation.  Religious leaders such as Pope Benedict XVI have spoken in regards to minimum wage.  In 2009, the Benedict was quoted distaste in “the low value … put on work and the rights that flow from it, especially the right to a just wage.”  John A. Ryan, a Catholic priest and the leading figure in the minimum-wage movement, simplifies his reasoning.  “The question . . . is not what a man must have in order to be a profitable producer,” Ryan wrote, “but what he ought to have as a human being.”

What are your thoughts?  What wage are you worth?  What wage are your individual employees worth?

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