The challenge is to highlight the new Fair Minimum Wage Act which came into effect today in the U.S. The new minimum wage is $5.85 per hour and will increase to $6.55 per hour next year and $7.25 the year after that. Jobacle.com feels the new wage level is a joke and disrespectful to employees.

I believe the minimum wage laws should be killed off and wages should be subjected to the laws of supply and demand. I’m sure my position isn’t very popular but I think politicians will eventually have to recognize that minimum wage laws just doesn’t do what it was intended to do.

For more information on the true effects of minimum wage laws, read the Fraser Institute report The Economics of Minimum Wage Laws.