When lawmakers attempt to “help” lower-wage workers by mandating higher minimum wages, they often end up causing more harm than good. As the late economist and commentator Walter Williams warned about minimum wage laws, “intentions have no effect on outcomes.”
The unintended negative outcomes of increases in the minimum wage are well documented.
Multiple analyses from the Congressional Budget Office estimate that large increases in the federal minimum wage would:
Cost hundreds or thousands or millions of jobs.
Drive up prices, interest rates, and federal deficits.
Reduce total family incomes and cause hundreds of thousands of workers who lose their jobs to drop out of the labor force permanently.
If you'd like to help support this censorship-proof public service, consider donating:
Bitcoin address: bc1qq7tnet6ys0dkvl336v8d0prqnmvk9zzj2dxpqe
Join Jim Watkins, Dee Stevens and Orlando on The Ship Show!
More great sources