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Basic Economics

The complete lack of understanding when it comes to economics is rather disturbing by those that ask for a raise in the Federal Minimum wage. If there is going to be a minimum wage at all, it should be set at the state, or even better, the county level.

First, the cost of living and life style is vastly different in a place like Alabama when compared to New York. The Federal Government has no business setting this minimum wage.

Secondly, why not set the minimum wage to $100 so we can all just be really well off? Do the problems become immediately obvious now?

Thirdly, the dollar represents the labor for goods and services produced in a society. Has the amount of goods and services in the society changed? No, the only thing that changed was how much the labor cost to produce them. Nothing changed, except now the cost must increase. You will not end up with anymore purchasing power that you had previous to the increase.

Fourthly, the people who make $30+ an hour. Do they get increases proportional to the $15 minimum wage increase? No, the only thing you have accomplished here, is to force the middle class to be worth less.
Lastly, a good principle to remember... You will not receive ANYTHING for free, unless it is produced for free.

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#economics #biden #minimumwage #leftist #conservative #poltics #news #meme #gab #rightwing #follow #trump #rnc #dnc

Swuave 5 Jan 22
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Minimum wages only create more unemployment and higher prices in goods. This is well known in Economics 101 classes. The stupidity is overwhelming.

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