July 24, 2019

(WATCH) John Stossel: Minimum wage hurts beginners

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John Stossel explains how Seattle’s $15 minimum wage killed entry-level jobs.

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commented 2019-07-24 21:49:58 -0400
Ruth Bard, that’s exactly what I said. Only you said it much quicker and more succinctly, Though I think I was quite eloquent.
commented 2019-07-24 21:40:17 -0400
Raising the minimum wage not only cuts entry-level workers out of the market, it drives up the cost of goods and services to the point that the buying power of the new wage is no better than that of the old one. So what’s the point?
commented 2019-07-24 21:09:35 -0400
Any rise in the minimum wage not only eliminates entry level jobs, but is also one of chief contributors to inflation. They higher the minimum wage, the greater the cost of doing business. The greater the cost of doing business, the higher the price charged to the consumer. The higher the price to the consumer, the lower the value of the currency. It’s a vicious cycle. I’m 71 years old and when I first started logging on the west coast of BC, I was paid $1.98 an hour, which was a lot more than a factory worker in the city who was paid about $1.65 and hour. This isn’t rocket science, it’s simple logic. it just keeps going round and round, with no end in sight. Everyone of us can explain why we deserve more money than the next guy. It’s called greed, and that’s just part of the human condition. We’re all guilty of it to one degree or another, including me. I guess the best answer is to let the free market decide…. not a great answer but the best one I can think of.
commented 2019-07-24 10:09:30 -0400
With 2.6% unemployment, it’s hard to argue that Seattle is hurting for lack of jobs.