MCViewPoint

Opinion from a Libertarian ViewPoint

Why Do Leftists Settle for a $15 Minimum Wage? – The Future of Freedom Foundation

Posted by M. C. Fox on November 28, 2018

https://www.fff.org/2018/11/16/why-do-leftists-settle-for-a-15-minimum-wage/

by 

If economic ignorance among leftists (i.e., liberals and progressives) had no adverse impacts, we could consign it to the ranks of the humorous. Unfortunately, however, such ignorance has very serious adverse consequences, especially on poor people.

The classic example of this phenomenon is the minimum wage. This week a liberal website named In These Times published an article about the minimum wage by a liberal named Marc Daalder. The title of the article is ”Why Every Democrat in Congress Should Support Bernie Sanders’ $15 Minimum Wage Bill.” In his article, Daalder sets forth the standard progressive justification for the minimum wage — to help the poor, needy, and disadvantaged.

There’s one big problem, however, with that justification: It’s false and faulty. In fact, if Daalder and Sanders succeed in getting the minimum wage increased, their success will only make things worse for those at the bottom of the economic ladder.

The question that should be posed to Daalder and Sanders is this: Why settle for $15 an hour? Why not make the minimum wage equal to what Sanders receives for being a member of Congress? When broken down to an hourly basis, Sanders receives about $60 an hour. Isn’t it a bit selfish for a liberal to be receiving $60 an hour and, at the same time, arguing that workers should receive only $15 an hour? What’s up with that?…

In fact, think about this: The people in every nation on earth could suddenly become wealthy by just having their respective government establish or raise their nation’s minimum wage to $100 an hour…

I think most everyone, including even liberals, can understand why a $100-an-hour minimum wage would be bad for people. The reason is this: The labor of many, if not most, workers is not valued by employers at $100 an hour. The payment of that wage would cause most businesses to start losing money and ultimately force them out of business.

The lesson? Employers are not going to hire anyone whose labor is valued at less than the artificially government-established minimum wage of $100 an hour. If employers value someone’s labor at $90, $80, $50, $15, or $5 an hour, that worker isn’t going to get hired under a system that has a $100-per-hour minimum wage.

Okay, I think most progressives would get that. For some reason, however, their reasoning ability abandons them and turns to mush when they think of a minimum wage that is set at a much lower rate, say $15. They are unable to see that the same principle applies. Every worker whose labor is valued at less than $15 an hour is not going to get hired. The minimum wage consigns those workers to permanent unemployment.

Be seeing you

44687-dj2ctywucaebebf

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: