With the recent Communist doctrine introduced (Pelosi/Schumer non-relief bill) the topic of a $15 per hour min wage creeps up yet again. I for one see forced minimum wage as a path to economic failure, ending in what Democrats so desperately want, a reliant society.
So let’s dive in a little. In the United States, over 99% of all businesses are considered small businesses (SBA Office of Advocacy). If a government mandates a forced wage and doesn’t allow companies to regulate their own wages based off employee performance and company profit, product prices will increase to offset higher company cost.
This alone negates your new wage because you are turning around and paying more for consumer goods, see how that works. Since forced minimum wage results in higher cost and less profit to companies, small businesses with razor thin profits will close, and the law of demand dictates the cost of employees inevitably goes up.
This will either result in layoffs, business closures or businesses resorting to automation, which all translates into less jobs and less money. Still like your $15 dollars per hour? Economist Jeffrey Clemens (Not to be confused with Jeffrey Epstein, who recently perished via surprise suicide) and Michael Wither’s research revealed 1.4 million jobs were destroyed in the late 2000’s when minimum wage rose across all states by an average of 30%. Another downfall to a $15 min wage is it will diminish opportunity. If the lowest job on the employment ladder pays $15 per hour, more skilled workers will come out of the woodwork’s and apply for jobs they normally wouldn’t apply for.
That can dis-proportionally harm less skilled workers along with workers from disadvantaged backgrounds because those workers are trying to gain work knowledge and experience. By increasing the intro level job competition, the more skilled/experienced employees will likely get said jobs over those just starting to climb the workforce ladder. It’s crucial for starter jobs to be available for those entering the workforce to gain experience so they can rise, which is why as you gain experience, you typically gain salary increases. Yaaay, Capitalism.
We are not even discussing the employee turmoil it would cause because if the 15 year old dishwasher makes $15 per hour, the cook will want his salary increased and the economic domino effect would just increase from there. Fewer and fewer businesses would open due to high cost and before you know it, the entire United States would look like a Democratic controlled city. California, Illinois and New York already have a $15 dollar per hour minimum wage, need I say more.
In short, we should have a merit-based system to determine wage, the harder you work, the more you make the company, the more the company pays you. Companies will have competitive pay to keep good workers from being taken by other companies, looking for good workers to make their company more profitable; see how that works.
Did I already say, Yaay Capitalism. If we allow this, our economy will diminish, businesses will close, crime will be increase, and people will start looking for Government Subsidies. Which is where Socialism would be introduced as the refreshing “Free stuff” answer to solve all of your liberal created problems. Remember, nothing is “Free” so work for what you get and the United States will remain the greatest country on earth.
-Old Glory
