The minimum wage issue is a political football with fervent support from members of both political parties.
For all the feel-good intentions involved, government-mandated minimum wage increases generally usher in unintended consequences and perverse effects for the very people they were intended to help.
A November 2014 UCSD study, The Minimum Wage and the Great Recession: Evidence and Effects on the Employment and Income Trajectories of Low-Skilled Workers, determined that minimum wage hikes have negatively impacted both income growth and employment status for low-skilled workers.
Artificial wage push mandates do indeed lead to higher hourly wages for many workers, but those benefits are more than counter balanced by lay-offs and cuts in hours worked.
Overall, minimum wage increases during the period studied (Dec 2006 – Dec 2012) led to a 0.7 percent decrease in the “national employment-to-population ratio.”
What’s more, government-mandated minimum wage increases do little, if anything, improve “real” (inflation-adjusted) income status for those targeted for benefits.
And minimum wage hikes do nothing to relieve dependence on government by financially distressed American families. These mandates do nothing to help people escape poverty.
Minimum wage mandates do nothing to reduce dependence on government. They do nothing to materially benefit American families over the longer run.
Minimum wage mandates do nothing but perpetuate poverty and the ‘dependency class’ in America.
There is a legitimate economic plan for lifting people out of poverty, rather than perpetuating poverty for millions of Americans.
There is one bold, new, comprehensive economic plan that treats all Americans equally, restores financial health at the family level, reduces dependence on government, and does not involve wage/labor mandates and social engineering incentives.
The Leviticus 25 Plan does what minimum wage increases and massive social welfare programs do not. It offers a fresh, new start for families everywhere. It offers an opportunity to escape the social welfare dependency treadmill – and government control over their lives.
It is an economic acceleration program that restores positive work incentives and unleashes the power of decentralization and economic liberty.
The Leviticus 25 Plan 2017 – $75,000 per U.S. citizen The Leviticus 25 Plan 2017 (1590)