Social security will fail and other commentary
Libertarian: Wage Hike Would Hurt Poor
Team Biden wants to hike the nation’s minimum wage to $15 an hour, yet that, warns Steven Greenhut at The Orange County Register, would echo the base rate in the Golden State, which has the highest poverty rate in America. In the last year, “self-service” car washes in California, with “skeletal” crews, have proliferated. “Do you think the wage hikes helped the workers who no longer have jobs?” Fact is, a mandated wage boost hurts “the least-skilled workers the most.” Low-skill employees lose their jobs because of increased competition from more experienced and higher-skilled employees attracted to the new rates. Such new competition will obliterate entry-level opportunities for those without experience. As the Congressional Budget Office reports, many “low-wage workers would become jobless” — and fall into poverty.
