We’re all going to be millionaires…
The Socialist French presidential candidate recently presented her 100-point platform for French death…er I mean prosperity. Among her economic policies is her pledge to raise the minimum wage to 1,500 Euros a month, or $1,950 a month, which is $12.18/hr. The current minimum wage is $10.75/hr, which might help explain the French 10.5% unemployment rate. The US rate is currently 4.6%. Unfortunately, most liberals believe they can legislate themselves whatever they want, including our own socialist government, the ASUO. If raising the minimum wage is such a good way to help the poor, why not make the US min. wage $12.18/hr? But why stop there! If we lobbies government to make it $520.83/hr, everyone could then make one million dollars a year!
While there has been many, many, studies and papers that prove raising the minimum wage only hurts the poorest of the poor by transferring their wages to other workers, this doesn’t stop governments from ‘taking action.’ When the wage is increased, young workers and women are disproportionately affected too. We can look to the French as a gauge where this country will be economically after more socialist legislate in passed in the future. Good thing I took that Youth Riot Control class…
