A Goofy Tweet on the Minimum Wage

Companies that aren't waiting for Congress to raise the federal minimum wage: http://t.co/Ee0Zb3iSg7 pic.twitter.com/lppRBDJVpj
— Michelle Coffey (@m_cof) June 27, 2014

There's a hidden implication in the tweet above that these companies are doing something for the "good of society," by not waiting for Congress to pass a minimum wage and increasing wage rates on their own. Actually, all firms pay people based on market conditions. If it is part of your business model to lure the sharpest of the low skilled, then you pay a bit more than the prevailing wage for low skilled workers. I'd like to see these firms pay this slightly higher wage and then hire the dimmest light bulbs that apply for jobs, of course, for "the good of the dimmest light bulbs in society." Now that would be a story.

-RW