In a classic case of good intentions paving the way to hell, it appears that minimum wage increases might be bad for your health.
Even if Vermont decides to reverse course after they pass minimum wage legislation, we will still have to deal with a unhealthy labor market for years to come. This is why it is so important that Vermonters say no to a $15 minimum wage while we have the chance.
Internal polling conducted on behalf of the Democratic Party reveals the party is focusing on raising the minimum wage at a time when voters are more concerned with other issues.
Kahler suggested that if Vermont’s small business owners were just smarter and worked harder they could afford the proposed massive increase in wages.
Workers from various fast food chains as well as other restaurants across the U.S. spent their labor day on strike demanding a $15 an hour minimum wage.
As Senator Cumming’s anecdote from New Hampshire reveals, sometimes a government edict is completely unnecessary for raising wages.
If some legislators get their way, Vermont will adopt a $15 minimum wage as soon as Jan. 1, 2019.
The market equilibrium minimum wage — which allows employers to attract workers — is about $11 per hour. The proposed $15 minimum marks a 30 percent increase in what is many employers’ biggest expense.
“The economic phenomenon that people who call for higher minimum wages ignore is that when the price of anything rises, people seek substitutes.”