Trump Media and Tech Group (Politics Allowed~Non-Moderated)

[timberwolf7]

Who on here claimed that $corced 20 Min wage was going to create jobs??
TRUTH is, raising the min wage has nasty consequences for lower paid people and the companies that
need them. The one that claimed it creates new jobs needs their head examined..
And leave it to the commie party to once again, make a situation even worse with their 'cure'..

https://www.zerohedge.com/personal-finance/californias-new-minimum-wage-cure-exacerbates-sickness

But apparently, California’s policy makers missed that memo.

On April 1st, the state instituted a $20 minimum wage for fast food workers, the highest in the US. With California’s absurdly high cost of living, the policy appeared to make life more manageable for low-income residents. Unfortunately, as the adage goes, “If it sounds too good to be true, it probably is.” California’s new minimum wage is poised to hurt the same fast-food workers it aims to help.

The Economic Problem of a Minimum Wage
The counterproductivity of a minimum wage is demonstrated by a simple analysis of the labor market. Companies “purchase” labor from workers through a wage. The more value a worker adds to a company, the more they will be paid. If employers are allowed to set wages freely, and the labor market is competitive, workers can expect to be paid close to their value added to the company.

A minimum wage hijacks this process. If a worker is worth $15 an hour to an employer, but a $20 minimum wage is introduced, the company will no longer hire the worker, and both parties are harmed. A $20 wage floor means that workers must at least add that much value to the company. For many laborers, this means saying goodbye to their industry and hello to unemployment.