This is the world that our unsound currency has created.
And I’ve seen it pointed out that when minimum wage was created, the minimum wage was $1.25 – five quarters worth. Which today you could melt down for $20 worth of silver. We don’t need to raise the minimum wage, we need government to stop stealing the wealth from our currency.
Hilarious except that they still try and make public policy off of reasoning like this:
Of course, one of the reasons LaGuardia’s croissants are so expensive is because that’s the minimum wage the workers there are already paid.
So now everything will be more expensive – or the jobs will simply disappear.
But only by cutting out the bonuses that the hardest workers earn.
Increasing the minimum wage and all the other socialist ideas out there are explicitly designed to incentivize mediocrity (or bureaucratic graft, which is even worse).
A $15 minimum wage will be devastating.
The true minimum wage is always $0
Good for them. Unless the government stops printing money, a basic income just means everyone is poorer. That’s the thing about “free” that none of the Bernie supporters seem to be able to understand.
On a related note, Switzerland has no minimum wage, and one of the lowest unemployment rates in Europe.
It’s a leftist professor realize they can’t pay their undergrads at the new $15/hour minimum wage that California’s imposing.
Well, at least it will be a blatant example of how that kicks the bottom out of the economy. Which I’m sure they’ll chalk up to “bad luck”. Do you know what a $15-an-hour McDonald’s burger flipper looks like?
Who could have seen that coming?
Certainly almost no one in San Francisco.
Like the automatic cashier machines getting deployed at all the fast food chains.
Although to be fair, it’s not just the minimum wage, but things like insurance mandates, and even just additional paperwork.
Tai-Chi Policy 