Ah, what a question. Is there an answer? I have read lots of articles lately by people that think they know the answer to such a loaded question. Here is my own (less informed) response!
In my opinion . . . dun dun dun . . . I think that the minimum wage should be somewhere around $10.00, just like Obama proposes. I say this for a number of reasons.
1. It would greatly improve the quality of life of the families whose source of income is at the minimum wage.
2. A raise in the minimum wage would not induce that drastic of a change in the economy.
3. Eliminating it would make our incomes completely dependent on the market and our employers. Now, I don’t know about you, but that makes me feel pretty uneasy!
4. Providing a baseline income for workers is important for the welfare of low class families.
So there’s that . . . not quite sure if that is economically correct, but that is where I stand on the issue!