Thursday, January 17, 2019

The True Minimum Wage

“The Democrats seek to more than double the federal minimum wage. “A $15 federal minimum wage affirms the bedrock idea of fairness in our country: that hard work deserves a decent wage,” Speaker Pelosi claims. But as Milton Friedman pointed out, “The true minimum wage rate is zero—the amount an unemployed person receives from his nonexistent employer.”” Dan Flynn

Only 2.9% of American workers are earning minimum. and most of those live in households well above the poverty level, because they aren’t the primary earner.  So this is nothing but posturing, most low income families would reduce their hours rather than lose the government benefits like SNAP, Section 8, Medicaid.

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