Restaurants In D.C. Slash Jobs After Minimum Wage Hike

Thursday, August 25, 2016
By Paul Martin

by Tyler Durden
ZereoHedge.com
Aug 25, 2016

A few days ago we wrote about the job losses starting to pile up in Seattle in the wake of that city’s passage of a $15 minimum wage (see “Something “Unexpected” Happened When Seattle Raised The Minimum Wage”). In that post, we noted that seemingly no amount of empirical evidence would ever be sufficient to convince certain elected officials that setting artificially high labor rates would ultimately only serve to hurt the people at the lower end of the pay spectrum due to permanent job losses.

Seemingly no amount of empirical evidence can convince progressives that raising minimum wages to artificially elevated levels is a bad idea. Somehow the basic idea that raising the cost of a good ultimately results in lower consumption of that good just doesn’t compute. Though it does seem odd that progressives in states like California lean heavily on higher taxes as a way to curb, for example, fuel consumption. Could it be that the left actually does understand the basic economics of the minimum wage debate but don’t find the math behind it to be particularly “politically expedient” in certain instances?

The Rest…HERE

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