Opinion: Why raising the minimum wage won't cause the sky to fall

Raising the minimum wage: The thought is anathema to most business owners and a lingering hope for low-wage workers. But despite what seems like constant opposition from corporations and Congress, there are some indications that “job creators” are relaxing their rigid stance.
 
In a Bloomberg Businessweek article, writers Peter Coy and Susan Berfield examine the pros and cons of raising the minimum wage from the standpoint of both low-wage employees and the companies that employ them. Their research indicates that increasing the minimum wage causes little, if any, harm to overall employment and might help full-time workers who earn minimum wage to finally make enough to get off government assistance.
 
The idea of raising the minimum wage, the article states, has supporters who might seem unlikely champions, including billionaires George Soros and David Sainsbury. Oh, and also a majority of Americans who, according to the article, consider a wage hike to be “a matter of justice.”

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