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Minimum Wage, Maximum Foolishness

FletchforFreedom Wrote: Mar 08, 2013 12:36 PM
BTW, no one except government has "abandoned" the Virtuous Circle of economic growth. The MARKET works as 1) businesses produce things consumers want, 2) consumers meet their needs with those products, 3) companies earn a profit, 4) companies invest in their business creating jobs and higher compensation, 5) economic output and efficiency increases so that more/better things can be produced; go back to (1). Employers still do this except government undermines profits, forces higher benefits (still compensation), regulates like crazy and undermines job creation.

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