Thursday, April 26, 2012

The Minimum Wage Farce

It never stops, despite the evidence that minimum wage laws actually harm the economy and the poor. Now Santa Fe has raised the minimum wage to $10.29 per hour.

Yeah, I know - that sounds good on the surface. The trouble is, liberals who pass these laws never bother to look below the surface, to the unintended consequences.

Here is what really happens when the minimum wage is increased:

First, employers hire fewer people. This is because employers do not have money trees growing out back. They have limited resources allocated for wages and benefits. So, fewer jobs.

Second, because employers do not have money trees, they must now come up with more money to pay employees. And there is only ONE way they can do that - increase the cost of the products and services they provide. And can you guess who PAYS those higher costs? Everyone. Yes, even the poor. The poor now have fewer jobs, and have to pay higher costs for their food, clothing etc.

So tell me - exactly HOW does increasing the minimum wage help anyone. Again, it is simply a case, like with Oprah in my previous post, of doing something that makes the liberals feel good, even if it hurts everyone else.


No comments: