In response to:

Minimum Wage, Maximum Foolishness

FletchforFreedom Wrote: Mar 08, 2013 8:46 AM
BTW, you really need to work on your comprehension skills. He chose the 24% and 33% figures because those are the amount the MW is to be raised and the percentage to get to $10 respectively. And he did NOT argue that wages are the driver of inflation. The Big Mac example was not about wages driving prices but the point that if you raise the price of Big Macs fewer of them will be bought AND if you raise the price of workers fewer of them will be bought (hired). Do try to keep up.

Should the federal government make life more difficult for low-skilled workers?

I hope everyone will emphatically say “NO!”

Heck, most people understandably will think you’re crazy for even asking such a preposterous question.

But some of those people will also think that it’s a good idea for politicians in Washington to make low-skilled workers less attractive to employers by raising the minimum wage.

I often ask such people whether they are more likely to buy a Big Mac if McDonald’s raises the price by 24 percent. They say they are less likely.

Minimum Wage Cartoon 2