Why Crony Capitalists Support Minimum Wage Increases

By Kevin Price, Publisher and Editor in Chief of US Daily Review.

His most recent column in the Huffington Post.

Many policy makers seem to live in a dream world. “It is terrible that the working poor have to live on such a low minimum wage,” they say. They address this problem by arbitrarily raising the minimum wage, although many jobs are worth less than the amount they set. This leads to employers laying off many of the people this policy was intended to help. Fundamentally, most policy makers have failed to realize that those who are impacted by laws, respond to the laws accordingly. After all, if business owners wanted to raise the income of employees, they would do so without government coercion. Not all of them want to change salaries and they are naturally resistant to policies that make them do so. Again, the victim of that are those who were suppose to benefit from such.

It seems odd that, since we have the lowest percentage of Americans working now than any period since the Great Depression, that policy makers would advocate placing more barriers between people and jobs, but that is exactly what is being done by politicians today.

So what would be a logical alternative to the federal government raising the minimum wage? The answer is simple, policy makers need to increase the demand for employment, which… (read more)

All opinions expressed on USDR are those of the author and not necessarily those of US Daily Review.

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