‘Liberal’ Washington Post: $15/hour minimum wage will put people out of work, hurt poorest people

“We don’t understand basic economics!!!! Fight for 15!!!!”

Well, you don’t say…

Hey, if you still want to blow up your community (and hurt poor people especially) with a $15/hour minimum wage you go right ahead. But when things head inevitably south, and likely quickly, just remember that you were warned multiple times. This time even by The Washington Post.

(From The Washington Post)

According to the 146-page report by Philadelphia-based consulting group PFM,

Read More

Is It Time to Start Dismissing ‘Economics Deniers’? Minimum wage laws have negative effects whether or not their advocates acknowledge them.

You can make your case for an artificially high minimum wage all you want here. We have and will continue to tolerate such “arguments.”

We understand why you want a minimum wage that is above the real wage for unskilled labor to work. We get it. The world is hard. More money to the poor would be more “just.” And so on and so on.

The thing is government can’t just declare something to be.

Read More

How the Minimum Wage Puts People Out of Work: Do such wages chase minorities out of cities? (PICs)

There is actually a pretty good statist rebuttal to this. The rebuttal is fundamentally incorrect but from an argument perspective one could get some mileage from it. But I’ll let you guys figure out what this rebuttal might be.

But in the end a minimum wage that is set arbitrarily above the actual – real – market based minimum wage will put people out of work. It will increase gentrification of working class neighborhoods. It will chase less fortunate people out of the cities that are foolish enough to proceed with non-reality based minimum wages.

Read More

Restaurant Die-Off Is First Casualty Of California’s $15 Minimum Wage

The good news is more people are cooking at home. I guess.

Look, reality is reality. Restaurants, many anyway, operate on thin margins. A forced higher wage means margins disappear as does the incentive to stay open.

If the work isn’t WORTH $15 an hour and the minimum wage is $15 an hour, that work will go away. It’s not complicated.

Read More

“Local minimum wage hikes cause restaurants to leave or shut down and deter new ones from entering, according to a new Harvard Business School study”

Last year we discussed why a significant rise in the minimum wage in places like Seattle and San Francisco was “good” for wealthy urbanites (you know, it pushes out the undesirables [some might call them “deplorables”] in the name of “social justice”) but was actually bad for those who worked for minimum wage.

Fast forward to now.

Read More

Baltimore mayor vetoes bill that would raise Baltimore minimum wage to $15/hour

Baltimore has run enough businesses out of town over the last 50 years. I guess the mayor figured SOME jobs should be left in the place.

Consider the politics of such a veto. Obviously in a Democrat dominated (only) city like Baltimore the way to keep the voters happy (in the short term) is to raise the wage. Everyone would have declared how it was a victory for workers etc. And yet it seems that the good mayor was mugged by economic reality.

Read More