Jerry Brown made a startling admission on Tuesday after he signed legislation that will increase the state’s minimum wage to $15 per hour.
“Economically, minimum wages may not make sense. But morally, socially, and politically they make every sense…”
Economically, minimum wages may not make sense…Economically, minimum wages may not make sense…Economically, minimum wages may not make sense….Hear what you just said Jerry Brown?
Jerry Brown basically admitted to all the conservative arguments about raising the minimum wage, specifically, that it will destroy jobs, hurt the job providers, put people out of work, and slow economic growth.
Various studies have also found that a $15 minimum will lead to increased prices , especially in the fast food industry.
But is is all hunky dory because Jerry Brown says it is going to make life fair and balanced!
As Jerry Brown ignored the lack of economic sense, he went into detail about the “logic” behind his support for the bill.
The bill will incrementally increase California’s minimum wage to $15 per hour by 2022.
Intentionally or not, Jerry Brown just told us something we already know: that high minimum wages make bad policy by forcing price increases and pricing low-skilled workers out of the labor market.
A survey of LA County businesses confirms these negative effects, and that doesn’t even begin to touch on the impact for less urban ares, which will have an even harder time complying with $15/hour.
California should have heeded the warning signs from Seattle, where the $15 minimum wage is now taking its toll! Read more!
— Forbes (@Forbes) April 6, 2016
It is so simple Jerry Brown! Lower wage jobs are entry level. One starts there, learns, grows, moves up. With hard work, the INDIVIDUAL raises their wages!
The government cannot micromanage! Government forced solutions like this ALWAYS end up with the opposite effect that they intend to.
How moral is it to take jobs away? How moral is it to raise prices which affects the poor disproportionately?