Minimum wage is an old idea that has failed.
It is time to repeal it.
It was sold as a safety net to be held up by employers so that employees wouldn’t have to worry about moving on in the job market. They could just camp forever by the minimum wage stream, enjoying the change of seasons, year after year, never having to worry about moving along or building a cabin of their own. No, they could just live off of the money their employer was forced to pay them, regardless of whether or not they were actually worth that amount.
But now, we have 24% unemployment, 30 million illegal aliens who aren’t subject to minimum wage or income taxes, and an employer sector who is being strangled by more red tape than any time since Soviet Russia.
It is time to remove the barrier to employment known as minimum wage, and let employers and employees decide how much they each want to work with each other and for how much.
The fantasy of the “working class” must be put to bed. There are only two classes in America: The Government Class, and Everyone Else.
Minimum Wage Kills Jobs
The Minimum Wage Mirage
It would be nice if every worker were worth $9.80 an hour. But not all workers are.
… “Do-Gooders believe passing a law saying nobody shall get less than [a minimum wage] is helping poor people (who need the money). You’re doing nothing of the kind. What you’re doing is to ensure that people whose skills do not justify that wage will be unemployed.” It is no accident that youth unemployment is almost double the overall unemployment rate. We never learn… and as Friedman concludes, “it is the exact people who the do-gooders are trying to help that are hurt the most – the poorest!”