Doc Thompson is at it again in a new digital short busting popular myths surrounding the left’s ongoing “Fight for $15,” the campaign to raise the minimum wage across the country to at least $15 per hour.
According to Thompson, small businesses will suffer the most from massive wage hikes, as 54 percent of minimum wage workers are employed by businesses with fewer than 100 employees. While small business creates the majority of new jobs in America, they’re also responsible for the majority of job losses — instability.
Also, the left’s frequent argument that the minimum wage should be enough to support a family ignores the fact that the majority of minimum wage workers are between 16 and 24 years old. For these workers, entry-level positions are intended to build experience and employable skills while creating minor positive cash flow, not cover mortgages, car payments and child-rearing expenses.
The practice of letting employers set wages, Thompson says, is based on a fundamental, incontrovertible principle of capitalist economies: supply and demand.
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