How Minimum Wage Laws Increase Poverty

Posted by  $  richrobinson 5 years, 6 months ago to The Gulch: General
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I think this is a really bad time to be raising the minimum wage.
SOURCE URL: http://mises.org/daily/6714/How-Minimum-Wage-Laws-Increase-Poverty


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  • Posted by  $  straightlinelogic 5 years, 6 months ago
    These people hoping to collapse the economy had better be careful what they wish for. If the economy collapses and the government payola stops, there are going to be an awful lot of angry people, both among the productive and unproductive, looking to take out their rage on the government and its supporters.
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  • Posted by jsw225 5 years, 6 months ago
    Increasing the minimum wage is the PERFECT scam. First, more people become unemployed by the policy. And then the benevolent government can give these people benefits, thus becoming the heroes. Next, even though those still employed receive more money, their purchasing power is decreased. So those people think they are richer, but actually are poorer. The government then steps in to fill in the gap of the purchasing power through government programs like Food Stamps. Finally, without adjusting anything else, EVERYONE loses purchasing power.

    So to sum up, some people think they are richer because of the government, but actually are poorer. Some people no longer have jobs, but the government is taking care of them anyway. And everyone loses wealth. It is the perfect Liberal Scam.
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  • Posted by SolitudeIsBliss 5 years, 6 months ago
    The 'Progressives' (aka Marxists, Socialists, Fascists, Liberals) will follow their agenda and damn the consequences. They are so blinded by their doctrine that they can't see past their own noses.
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  • Posted by LetsShrug 5 years, 6 months ago
    If your goal to do everything in your power to help the collapse of the American economy then this is the PERFECT time to throw that weight on top of businesses. They KNOW what they're doing and they don't give a rats about 'poor people'. Other than getting their vote...and how many more votes could they gain by raising the minimum wage right before the elections in '16? They'd be voting before they realized the outcome... much like Obamacare (since so many delays have been put into place people won't feel the real results until later.)
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    • Posted by  $  5 years, 6 months ago
      Its unfortunate that the very people being crushed by these policies are the first to support it.
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      • Posted by LetsShrug 5 years, 6 months ago
        They're being used and refuse to see it. How sorry can you feel for someone who refused to follow the policy to its logical conclusion instead of just supporting it because it sounds (or makes them feeeel) good. It's called being hoisted by your own petard.... and consequences for your actions.
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        • Posted by  $  5 years, 6 months ago
          I really don't feel sorry for anyone any more. The information is available and the results of Obama policies are obvious. If they keep voting the way the are they will get what they deserve.
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