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PrintJuly 24, 2009
Wages? What Really Happens Today
So today the minimum wage goes up by government mandate. What a time for celebration, right? What wonderful compassion is being show by our government, right?
We have no idea whether any workers will actually make more money as a result. But consider what is really happening today that we know for sure:
A: Small business owners just took a pay cut.
B: Some hourly workers will get less hours.
C: Some hourly workers will get laid off.
D: Some union contracts just got raised.
E: None of the businesses affected will have one more penny in sales volume as a result.
F: There has still never been a sighting of the mythical "family of four trying to make it on one minimum wage income."
G: If such a family were sighted, they still could not make it on one minimum wage income.
Isn't government intervention into the economy fantastic?
