The Associated Press is reporting that Republican Presidential candidate Michele Bachmann is considering lowering the minimum wage to match labor costs overseas to lure corporations back to the United States.
Her comments came in response to the question of a reporter, during a campaign stop in Florida, who asked whether changes to the minimum wage should also be considered to balance the cost of labor here and overseas. “I’m not married to anything. I’m not saying that’s where I’m going to go,” Bachmann replied. She did say she wants to look at all aspects of doing business, from regulations to tax codes, and will consider anything that will help create jobs.
Lowering the minimum wage is not a viable option to stimulate the economy. People are struggling to live on $7.25 an hour as it is. Wages overseas are far lower than they are here. So low in fact that poverty is a way of life. Before Democrats passed the minimum wage law during the Great Depression, workers struggled to make a living while corporate CEO’s made millions. And when the Great Depression hit the country, millions of American workers ended up with nothing. Corporations don’t care how low wages are. Prices will not come down to accommodate lower wages. The only thing that lowering the minimum wage will do here in America is stimulate poverty.