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Minimum Wage Hikes Are Wiping Out Jobs
submitted 4 years ago by dcjogger from cnsnews.com
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[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - 4 years ago* (0 children)
This is a no brainer, minimum wage laws have the effect of saying everyone under an artificial quality/productivity level is unemployable.
Minimum wage jobs are so simple nearly anyone on earth can do them. They require a 70 IQ, working limbs, and marginal conscientiousness. It's how and why manufacturing has been moving around the world chasing cheap labor. The industries that offer minimum wage jobs that aren't capable of relocating are discretionary spending, not necessities. So, if they raise their prices volume goes down by a huge amount, and all of the employees that don't work their asses off are let go.
The end result of "higher minimum wage" is not only less jobs but also reduced choice for people that could have consumed additional services and products if the artificially boosted prices didn't eliminate the possibility. The only people who win with minimum wage laws are giant corporations that can use them to drive local and regional competition out of business.
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[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 0 fun4 insightful - 1 fun - (0 children)