( – promoted by Rob “EaBo Clipper” Eno)
The Minimum-Wage Myths
The arguments in its favor are emotional appeals and distortions of economic reality.
The perennial fight over the minimum wage is once again in bloom, and the usual arguments will be rehearsed on both sides. Those against raising the minimum wage will cite Economics 101: Raise the price of something and demand will go down. Those in favor of raising the minimum wage will harrumph in the face of economics and declare that their opponents, and economics, hate poor people.
The purpose of this fight is not to hash out economic questions related to low-income people. The purpose of the fight is the fight: There is no minimum wage high enough to keep the Democrats from introducing an increase next year, because the point of bills hiking the minimum wage is to force Republicans to vote against them, which provides Democrats with a moment of cherished political theater. They do not give a fig about poor people – as everybody knows, the real minimum wage is $0.00, and more Americans today are making that than at any time in recent memory, which is what is meant by “record low workforce-participation rates.”
What follows are six reasons why you may want to raise the minimum wage. All of which Williamson debunks as the Progressive pap that they are.
That is, so far as I can tell, pretty much it. Most of the arguments for raising the minimum wage are variations on “I like poor people and I feel sorry for them,” which is fine, but the country and its low-income citizens would be far better off in the long run instituting something like Milton Friedman’s negative income tax than by monkeying around with the numbers, mostly after the decimal point, on low-income workers’ wages.
The real scandal is that so many Americans have labor that is worth so little. But that’s an indictment of the public schools and the welfare state, not of the mean meanies at Walmart.