The case against the minimum wage is nothing more than common sense. Everyone knows that when you make something more expensive you get less of it, and when you subsidize something you get more of it.
Why would the market for labor be any different? Well, it isn’t – but explaining economic topics can be a bit dry.
So for that reason, here’s comedian David Angelo (who has a Comedy Central show and is a regular guest on Fox News’ “The Greg Gutfeld Show”) debunking every argument in favor of the minimum wage while making the case against it.
Of course, if minimum wage advocates do see success, the workers they’d like to help won’t be worrying about whether or not their wage is high enough, but whether or not they’ll have a wage at all. The response of the food service industry to the rising trend in state and local minimum wages nationwide has been automation – and in European countries (which have higher minimum wages than the U.S.), that’s been the norm for quite some time.
While poverty in America is discussed as a wage problem, it’s really an employment problem. Here were the stats as of 2014:
United States Population: 308,827,000
Full-Time Workers: 97,443,000
Full-Time Workers in Poverty: 2,732,000
Total People in poverty: 46,618,000Only 0.9% of Americans are full-time working poor.
Only 2.7% of Americans who work full-time live in poverty.
Only 10.1% of working-aged Americans in poverty work full-time.
94.1% of Americans in poverty do not work full-time.
77.8% of Americans in poverty do not work at all.
As the minimum wage continues to cut off entry level jobs on the bottom end of the economic ladder, it’s only ensuring poverty for those who suffer as a result.
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