Weatherman2020
Diamond Member
Are proponents of $15/hr minimum wage really that naive?
Whenever it comes to raising the minimum wage to $15 or $20 or more, I ask such proponents, “Would you be in favor of raising it to $100 or $1,000 per hour?” I usually get a confused look, as if I’m asking a trick question. For they are confronted with an economics question that goes beyond the parroting they’ve been programmed to carry out.
It’s not by random chance that rents in San Francisco are so high. It’s because the collective wages across the SF Bay Area are high. Landlords know this, so the invisible hand of free markets has driven rents up to these levels.
When the minimum wage is artificially raised by government policy then everything else will go up too, including other people’s wages, the cost of goods & services, rents, home prices, virtually everything. This is a fact that politicians either don’t understand or refuse to explain to citizens.
But in the end, the rich get richer and the poor get poorer.
Just remember this: AOC is the leading cheerleader for higher and higher minimum wage.
Whenever it comes to raising the minimum wage to $15 or $20 or more, I ask such proponents, “Would you be in favor of raising it to $100 or $1,000 per hour?” I usually get a confused look, as if I’m asking a trick question. For they are confronted with an economics question that goes beyond the parroting they’ve been programmed to carry out.
It’s not by random chance that rents in San Francisco are so high. It’s because the collective wages across the SF Bay Area are high. Landlords know this, so the invisible hand of free markets has driven rents up to these levels.
When the minimum wage is artificially raised by government policy then everything else will go up too, including other people’s wages, the cost of goods & services, rents, home prices, virtually everything. This is a fact that politicians either don’t understand or refuse to explain to citizens.
But in the end, the rich get richer and the poor get poorer.
Just remember this: AOC is the leading cheerleader for higher and higher minimum wage.
AOC slams debate over $15 minimum wage as 'utterly embarrassing'
Rep. Alexandria Ocasio-Cortez called the debate over raising the minimum wage to $15 per hour "utterly embarrassing."
www.foxbusiness.com
San Francisco rents declared highest worldwide—again
SF’s $3,690 median rent on a one-bedroom apartment is global peak.
sf.curbed.com