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KILL THE MINIMUM WAGE

Last year, Florida voters approved to raising the minimum wage from the current $10 to up to $15 by 2026.


IMPACT ON SMALL BUSINESSES

This coercive law forces businesses to raise their production costs even after taking so many blows during the pandemic. According to an article published by the Washington post dating back to may 2020, more than 100,000 small businesses closed down forever. In September, Yelp gave us data showing that 60 percent of those business closures were permanent, 60 percent meaning 97,966 businesses.


Whatever small businesses remained were forced by government officials to scale back operating capacity, raise costs for sanitation equipment, adapt to the swift and changeable consumer behavior, AND/OR...remain closed for extended periods of time. All in all, this resulted in a major decrease in both revenue and profits. Not only that, you have these very same politicians that want to raise the cost of production for these struggling businesses by raising the cost of labor to a minimum of $15/hour.


THE “INCREASE” IN WAGES

It's argued that the minimum wage will increase wages. Which can only be true for those who can KEEP their jobs. However, the opposite is true for those who've been layed off OR who couldn't get a job in the FIRST place. In other words, the gains only come from the difference made out of those the minimum wage eliminates from ever EARNING them. Now those who're fortunate enough to keep their jobs, we have to consider the reduced hours they'll actually be working depending on the sector.


While they "may" get a raise in hourly wages, there Is NO guarantee that they'll see a significant increase in money once they get their paychecks. To quote an article from U.S. NEWS.com:

MORE THAN three-quarters of restaurants in New York City have reduced employee hours since the minimum wage was increased to $15 per hour.

In a survey by The NYC Hospitality Alliance, 76.5 percent of full-service restaurant respondents said they had to reduce employee hours and 36 percent said they eliminated jobs in 2018 in response to the mandated wage increase.”


The reality I want to illustrate, is that the smallest increases in the minimum wage increases the COST OF DISCRIMINATION against the most marginalized workers – those with little to no education, no work experience, and no real job skills.

As presented in these two charts from the Bureau of labor statistics from 1975-2012. Then ANOTHER from the year 2016.


Bureau of Labor Statistics. From 1975 through 2012, increases in the federal minimum wage have been associated with no increase in nationwide unemployment among the college-educated, some increase in unemployment among the high school educated, and the greatest increase in unemployment among those without high school educations.



Data source: Bureau of Labor Statistics. Comparing states’ minimum wages to states’ unemployment rates for 2016 shows no discernible effect in the overall unemployment rates, but a discernible effect in unemployment rates among young workers.


If you've ever wondered why the days of shoe-shiners, newspaper boys, children pumping gas, changing tires, given apprenticeships, and building lemonade stands have gone the way of the dodo-bird. You can look no further.


ROOTS OF DISCRIMINATION

Speaking of discrimination: Since we're 2 months away from so-called “Black History Month” I'd like to mention that the earliest acts of minimum wage laws enacted on American soil was an attempt to keep not only the blacks, but Asians, Latino's, and more out of the job market!


Left-wing progressives shout on about racial equality and fighting institutional racism as this abstract looming bogey-man that puts a perpetual cap on the most basic upward projection of blacks in America while at the same time telling you in order to fight this bogey-man you have to destroy the very cities you live in and loot the very businesses that make up the community as an act of anti-racism. If we really want to abolish racism and the concrete racist policies set forth by the government; the minimum wage laws HAVE TO GO! I recommend the works of two indispensable economists named “Thomas Sowel” and the late great “Walter E Williams”.


These two prominent black men have exposed the fact that minimum wage laws are among the MOST racist and sinister of policies. A useful tool of white labor unions, the minimum wage law, in its earliest inception, put black laborers OUT of jobs, protecting white workers. The ones impacted the most were, and still, are young black teens.


CLOSING REMARKS

The way to increase wages is to increase the value of workers labor. This happens through education, skills training, and work experience. Raising the minimum wage can never provide for the 1st two, and it makes it even harder to obtain the 3rd. However, what it does do is allow politicians to bribe able workers for votes by dis-employing the less abled. Killing competition within a prosperous free market in the process.


This is Liberty Without Permission





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