This week there has been a mass protest among fast food workers for a higher minimum wage. This would actually counterproductive, rather than what many liberals would have you believe. The way I see it, the minimum wage is a bad idea, not because I dislike the low wage earners, or that I like inequality. In fact, eliminating the minimum wage will create a much better standard of living.
Despite what many liberals say, countries that have no minimum wage have lower unemployment than countries with a minimum wage.
So how does the minimum wage create unemployment? Minimum wages are a form of controlling prices, because when the government tells employers what they may pay people. Say the minimum wage becomes 15 bucks an hour. Many large companies would rather not hire an employee than pay $15 an hour. Then a company may hire illegal immigrants who will work for far less, say $5 an hour. Then the job goes away from an american and to someone who doesn’t even have a right to be here! A much more audacious statement may be to say that the minimum wage robs people of their american dream.
Former Vice President of the United States Dick Cheney, “You know, I’ve got experiences going all the way back the Nixon Wage Controls, We had what I think was a terrible mistake.”