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196 sats \ 1 reply \ @Undisciplined 30 Mar \ on: Trump Revokes Biden Federal Contractor Minimum Wage Mandate econ
The main problem with minimum wages is not that they make things more expensive. The main problem is that they remove rungs from the economic ladder, rendering many marginal workers unemployable.
The reason labor unions have always supported these is precisely that they price out the competition.
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124 sats \ 0 replies \ @kepford 31 Mar
Best response. Also, it's centrally planned price fixing. A floor as you said. I have teen sons and know many busines owners and the wage floor does hurt those with low skill the most. Not just young people but those with disabilities as well. Like most government programs sold as good for the people it is the opposite. The market fixes this.
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