Posted on 06/01/2015 5:51:51 AM PDT by TangoLimaSierra
One of the first concepts taught in basic economics is the demand curve. As the price of something goes up, the demand for it goes down. And vice versa. One doesn’t even need an economics class to understand that a $50-million house will not have a bunch of buyers in a bidding war, compared to a much less expensive house. Or that a sale, lowering the price of something, is a good way to sell more and clear the inventory.
So why is there such confusion about the minimum wage? A wage is simply the price of labor. Raise the price, and demand goes down. And vice versa. Watch it play out in San Francisco, Seattle, and Los Angeles as small businesses, unable to afford their new cities’ minimum wages, close their doors or lay off employees.
Basic economics.
(Excerpt) Read more at americanthinker.com ...
I can’t understand why libs don’t get this.
May be you do not understand that they are out to destroy
America.
It’s the simple things that confuse ‘Progressives’. “Some ideas are so stupid only intellectuals will believe them.”
They also ignore human nature. They think they can tax the rich. LOL
Where are the judicial philosophers (besides Judge Janice Rodgers Brown)?
Judge Learned Hand:
“Anyone may arrange his affairs so that his taxes shall be as low as
possible; he is not bound to choose that pattern which best pays the
treasury. There is not even a patriotic duty to increase one’s taxes.
Over and over again the Courts have said that there is nothing sinister
in so arranging affairs as to keep taxes as low as possible. Everyone
does it, rich and poor alike and all do right, for nobody owes any
public duty to pay more than the law demands.”
Obviously there is something mentally wrong with the way they think.
Because of open borders we still need the minimum wage. The laws of supply and demand do not work in a open system. We will end up like Brazil.
The problem is, they are looking at it from the stand point that someone out there has more money or stuff than they have, and that’s just not fair. So, no, economics don’t play a roll here, according to the progs. The price of things don’t need to rise, the business owner just needs to accept the expense, because they make too much money anyhow, and that’s just not fair, darn it!!!! So, in the progs eyes, the solution is to raise minimum wage by cutting profits, not raising prices. This is precisely how the progs think.
It’s about control, not wages. Just like Obamacare is about control, not health.
The libs changed the semantics...
At first a “living wage” was the drumbeat...that was too open to critical thinking...as in what should it be?
A minimum wage has a concrete baseline to make the case for it...
We want xyz per hour or you are a greedy bastard...
That is easy to communicate even with libtards...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.