Letter: U.S. can afford to raise minimum wage

On Feb. 21, a guest columnist in The Gazette asserted that increasing the minimum wage would result in higher unemployment ('Moral argument against raising minimum wage” by Gary L. Maydew). He went on to talk about Maslow's Hierarchy of Needs - indicating that having a job, regardless of how poorly it pays, helps an individual reach the pinnacle of this hierarchy.

Independent studies from economists indicate that minimum-wage increases have little or no negative effect on employment levels. Academic research shows that higher wages reduce employee turnover - in turn reducing costs related to hiring and training.

A higher minimum wage means more consumer spending on housing, food and clothing - those needs closer to the bottom of Maslow's Hierarchy. This boost in demand for goods and services will stimulate the economy and create more opportunities.

The writer talks about using self-checkout at the country's largest retailer, suggesting companies have shown a greater willingness to invest in people-replacing technology rather than allow higher wages to shrink profits. In reality, profits have surged while employees' incomes have stagnated for many years.

The U.S. can afford to increase the minimum wage and improve the economic outlook for millions of hardworking people.

According to data from the Institute for Policy Studies, Wall Street bonuses - not salaries, just bonuses - reached $28.5 billion in 2014. The combined income of all Americans working full-time at the minimum wage in the same year was $14 billion (http://www.ips-dc.org/deep-end-wall-street/). We must do better in this country.

Craig J. Hlas

Cedar Rapids