Denver Mayor Michael Hancock says the city may raise the minimum wage.

More money for more people sounds nice. However, the more the cost to produce a good or service, the higher the price. I'm no economist but that's how it works. Wouldn't an increase in the minimum wage in Denver just make an expensive place to live cost even more?

The suggested pay increase would be for folks who work at businesses operating inside city facilities. The increase would be "phased-in over several years" to $15 an hour. It would apply to the starting wage for city employees, contractors, and others. Wait a minute, Colorado voters already approved an increase back in 2016 that raises the statewide minimum wage to $12 by January 1st, 2020. The current minimum wage is $10.20 but only until the end of December. It jumps up to $11.10 per hour on the 1st of January 2019.

 

The federal minimum wage is $7.25 an hour. Colorado already has one of the highest state minimum wages in the country. Is raising the minimum wage something that Grand Junction city officials would consider? It would mean that fast food burger will cost you more.

Then there's the fact that Hancock is up for re-election in 2019. The idea of raising wages is appealing to voters. Who's really benefiting here?

Credit: The Denver Channel