Because of the sluggish national economy, our New Mexico economy is still in recovery mode. Job growth is low, there is a lack of confidence in consumers and businesses for recovery, and the justifiable fear of increased prices for food, fuel and now health insurance premiums is weighing heavily on the minds of most New Mexicans. Progressives think raising the minimum wage will alleviate these fears in our society. They are either sadly misinformed or have a hidden agenda.
Progressives argue that raising the minimum wage makes good economic sense. They claim it would provide New Mexicans with more money to spend and to invest, thereby boosting economic growth and activity. Their argument continues, speculating that an increase in the minimum wage will automatically make workers more productive and that this would magically translate to increased business profits.
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