Refuting Robert Reich on the Minimum Wage Debate: Why Minimum Wage Should Not Be Raised
Refuting Robert Reich on the minimum wage is not difficult when one understands the laws of supply and demand relative to the labour market and employer relationship. I have explained why minimum wage should not be raised numerous times with the same argument against the likes of Thought Slime and even Second Thought.
Robert Reich seems ignorant of the fact that business owners simply find ways around the higher minimum wage by compensating for paying out the higher wage. Like I stated and I reiterate, the wage of the employee is the price to the employer and an employer has to ensure that the value for what they're getting is greater than the cost. To elaborate, an employer will not hire someone for $15/hr to flip $5 burgers because they aren't worth that, the cost of $15/hr doesn't justify flipping $5 burgers.
Like I've mentioned before, in the laws of supply and demand relative to wages, entry level workers are in large supply, therefore, there is low demand from employees, it is an entirely different story when companies have to compete for skilled-labour. This is why socialists can't understand for the life of them why a top professional sports player gets paid thousands, but a doctor or nurse gets paid much less.
Regardless of how often it fails and has failed, they will never listen. Only when it is already too late and people are left in a desperate state will people listen.
*California Town Sees Businesses Vanish Following Minimum Wage Hike:*
https://fee.org/articles/california-town-sees-businesses-vanish-following-minimum-wage-hike/
*$15 Minimum Wage Laws Are Wiping Out Jobs in New York and Illinois:*
https://fee.org/articles/15-minimum-wage-laws-are-wiping-out-jobs-in-new-york-and-illinois/
*Why McDonald’s Gave Up the Minimum Wage Fight:*
https://fee.org/articles/why-mcdonald-s-gave-up-the-minimum-wage-fight/
*Follow Me on Social Media:*
• Facebook: https://www.facebook.com/LibertarianViewsScottyM
• Twitter: https://twitter.com/ScottCJMcKelvie
• Parler: https://parler.com/#/user/LibertarianViewsScottyM
• Gab: https://gab.com/LibertarianScot
• Minds: https://www.minds.com/LibertarianScot/
• MeWe: https://mewe.com/i/scottmckelvie
• WordPress Blog: https://libertarianviewswithscottym.wordpress.com/
• LBRY/Odysee: https://odysee.com/@LibertarianViewsScottyM:6
• Rumble: https://rumble.com/c/c-390494
• BitChute: https://www.bitchute.com/channel/egfCIS1DbaBM/
*You can also support me here on Patreon:*
https://www.patreon.com/LibertarianViewsScottyM
-
21:35
Libertarian Scot
1 year agoRefuting Yugopnik: Why Gamers Should NOT Be Against Capitalism
171 -
1:33
WCPO
3 years agoOhio minimum wage changing
10 -
0:51
WFTX
3 years agoFLORIDA MINIMUM WAGE GOES UP
112 -
8:49
Mark Levin Show
3 years agoRobert Reich: American Marxist
5.08K54 -
0:29
briankscott
3 years agoWorking minimum wage
48 -
3:34
WFTS
3 years agoFlorida's minimum wage increases to $10
10 -
17:09
CartierFamily
1 day agoKevin O'Leary OBLITERATES CNN for ATTACKING Trump’s Booming Economy!
140K210 -
2:04:13
Roseanne Barr
3 days ago $165.12 earnedLet me introduce you to someone they call G-D | The Roseanne Barr Podcast #70
309K836 -
LIVE
Tommy's Podcast
18 hours agoE565: Delta Force Hawk Ops - Alpha Release
1,601 watching -
7:14:53
Delnorin Games
20 hours ago🔴 Live - CitizenCon 2954 Day 2 - Rumble Watch Party
135K