Screen Shot 2016-04-26 at 8.51.54Ten random thoughts on the minimum wage:

* The idea that a minimum wage job should provide a living wage demonstrates a complete lack of understanding of economics and the market.

* The greatest portion of the budget of virtually any business is wages and benefits.

* Minimum wage employers, such as fast food restaurants, make very little profit on most items they sell; their profit margin is tiny.

* Any decrease in the profit margin must be recouped by charging more for their products.

* The market for such products is so competitive that charging more often decreases patronage, which reduces overall profits.

* Minimum wage employers must be flexible enough to respond rapidly to market forces.

* Minimum wage jobs were designed to provide first jobs for those that have never held a job.

* Such jobs provide invaluable training in work ethics and life.

* Legally mandated minimum wage laws will inevitably force some employers out of business.

* Those that remain will have no choice but to implement automation to replace employees they can’t afford.

The more progressives interfere in the marketplace, the more damage they do to everyone.

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