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09.09.2021 0

Progressives Push for $26/hour Minimum Wage

Progressive activists and academics are now calling for a twenty-six-dollar-an-hour minimum wage. With today’s Americans for Limited Government Minute, I’m Catherine Mortensen. Progressive economist Dean Baker writes quote – A twenty-six-dollars-an-hour minimum wage may sound pretty crazy, but that’s roughly what the minimum wage would be today if it had kept pace with productivity growth since its value peaked in nineteen-sixty-eight. While it might sound idyllic for everyone to make that much money, idealism can’t change economic reality. As economist Thomas Sowell famously explained, “the real minimum wage is always zero, because there’s always the option not to employ the worker at all. And if the minimum wage is arbitrarily set at a level above the value of the worker’s labor, employing a dishwasher at twenty-six-dollars-an-hour would be charity, not business. In reality, businesses would invest in technology to do the job, hire illegal immigrants, or otherwise contrive to hire far fewer dishwashers. For more check us out at the DailyTorch.com

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