I’ve blogged a lot about the minimum wage (try searching), so I’m not going to repeat myself except to summarize: minimum wage laws reduce prosperity, especially for the poor. I have a special loathing for those who claim to care about “social justice” and then attack the most vulnerable with minimum wage laws.
You may remember that Congress raised the minimum wage three times in a row. Now we know something about how much damage that did. We can’t know exactly: all laws of economics are true everything else being equal, and everything else is never equal. Nevertheless, the damage in terms of lost jobs is staggering – and these are jobs lost to the poorest Americans, especially the young and uneducated.
I don’t understand how some politicians can look at themselves in the mirror.