Basic econ 201 teaches the three factors of production; land (you own or rent the plant or office), labor, and capital. When the damn Gov dictated $10 and hour and then some states $15 an hour, each increase cuts into the basic econ formula MRP=MRC. I have a major in both Bus and Econ. One can talk about 10 cent an hour but that is BS as the Chinese are buying all kinds of products. They now do what this country did since day one while the progressives have regressed us into socialism and even communism. We have people doing zip living better then many workers.
It’s not $0.10 cents, but the point is a valid one. Those making far less wages cannot be competed with.
Trump is nobody’s fool. I think he’s done quite well in life, and I’ll take his decisions over yours.
As for people doing zip and living quite well, I agree.
It’s downright criminal what we give to people.
My wife and I both made about $35k per hear about 20 years ago. We know of this one couple who were both on welfare or some sort of assistance.
Together they were getting more assistance than we earned.