Raising The Minimum Wage Is Not Conducive To Long Term Economic Prosperity | It's Time To Abolish It

#minimumwage #minimumwagedebate #news #politics #government #republican #democrat #libertarain #progressive #socialist #economics #econ101

In the ongoing debate surrounding minimum wage, advocates often champion its increase as a solution to uplift lower and middle-class individuals. However, what if I told you that despite its well-intentioned nature, raising the minimum wage might not be the economic panacea it's touted to be? The complexities of minimum wage hikes and their long-term economic implications are many times overlooked by those who champion the cause. While it's undeniable that a higher minimum wage can provide immediate relief for struggling workers, the repercussions on businesses, job creation, and overall economic stability cannot be ignored. Artificially inflating wages can fuel inflation and lower the purchasing power of the very people it aims to help and let's not forget the potential domino effect on consumer prices, as businesses pass on the increased costs to customers. So, does raising the minimum wage truly pave the way for long-term prosperity, or is it merely a short-term fix with far-reaching consequences?

Twitter: https://twitter.com/PopeNoCatholic

YouTube: https://www.youtube.com/channel/UCPgbzT7YGaSyElPh772SiIg

Instagram: https://www.instagram.com/poperoninews/

Sources--------------------------------------------------------

NBC: https://www.nbcnews.com/business/economy/us-march-jobs-report-unemployment-rcna146549

Wall Street Journal: https://www.wsj.com/economy/consumers/whats-wrong-with-the-economy-its-you-not-the-data-cfa911e6?mod=travel_whatsnews_pos4

Kobeissi Letter: https://twitter.com/KobeissiLetter/status/1776608706299371818

CNN: https://edition.cnn.com/2024/04/10/business/gen-zs-financial-angst/index.html

New York Post: https://nypost.com/2024/04/12/us-news/labor-group-says-california-20-min-wage-just-the-beginning-vows-to-extend-to-all-sectors-despite-layoffs/

USA Today: https://www.usatoday.com/story/money/food/2024/03/26/california-minimum-wage-jobs/73107149007/

Papa Johns Employee Video: https://twitter.com/WallStreetApes/status/1779952891454988725

LA Times: https://web.archive.org/web/20240413112021/https://www.latimes.com/california/story/2024-04-13/fast-food-wages

LA Times 2: https://web.archive.org/web/20240201080614/https://www.latimes.com/california/story/2023-09-14/california-lawmakers-approve-25-per-hour-minimum-wage-but-not-without-a-fight

LA Times 3: https://web.archive.org/web/20240101030349/https://www.latimes.com/california/story/2023-10-13/california-healthcare-workers-to-get-25-an-hour-after-newsom-approves-new-minimum-wage

News Medical: https://www.msn.com/en-gb/money/other/california-health-workers-may-face-rude-awakening-with-25-minimum-wage-law/ar-BB1lI4Hw