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I live in a jurisdiction which will have a $15 minimum wage in a few years. And the pain is already being felt. Automated everything is popping up, people are losing jobs, and prices on everything are skyrocketing as minimum wage ticks higher. Yes, my wage increases, but again so do the prices, so I’m still as a poor as I was before. But its not supposed to be this be way. Democrats such as Bernie Sanders tout $15/hr minimum wage as a way to lift people out of poverty, so they can afford to live. Right? Wrong. Higher minimum wage sounds good to politicians who want to buy votes, and voters who don’t understand basic economics(and the politicians who don’t understand basic economics either, such as AOC). Higher minimum wage rests on the principle that businesses will pay more, and that’s it. But businesses will not pay more lying down. They’ll raise prices and/or lower costs to keep profitable. They’ll lower costs by cutting hours, automating and eliminating jobs other ways. If that can’t make them profitable, they’ll just close(A good case-study is laid out by Reason with NYC car washes). What to do? I personally could move out of my state, and if things get bad enough, I very well may eventually in time. But if Democrats take Congress and the White House, they’ll pass a nationwide $15/hr minimum wage, and then there will be nowhere for me to move and the country is screwed. A $15/HR minimum wage is murder, but politicians will push it through on idiot voters who then vote for them because they think they’re being helped when in actuality its making them as poor if not poorer than they were before. There’s only one solution, vote Republican. They won’t raise the minimum wage. But I feel I’m preaching to the choir here.
Author: Eric Erb
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