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jmowreader

(53,194 posts)
19. How many of us would continue to have jobs under Bernie?
Mon Jan 25, 2016, 04:26 AM
Jan 2016

"If we raise the minimum wage, the economy will create so many new jobs that everyone will need to have two" is just as speculative, if not MORE speculative, than "if we cut taxes it will kick the economy into high gear."

No, kids. As with Bernie's "if we just soak the rich, everyone will be able to go to the doctor and never pay a cent" healthcare plan, Bernie's "double the minimum wage in just four years" plan treads into terrain never before entered. If I was running a shop that paid 20 workers $10 an hour, and Bernie suddenly said "ya gotta pay 'em fifteen," I would have two choices, neither good: either fire seven people until business improved enough to justify paying 50 percent more (it would be even higher because of his healthcare tax, but that's higher math and it's midnight) or raise prices enough to cover my new costs, and watch half my customers vanish. Nowhere in the history of the world has the minimum wage ever been doubled in one fell swoop.

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