Thursday, July 16, 2009
Utah to see increase in minimum wage
This headline could also read, "Utah about to lose more jobs". The supply of money does not increase just because government mandates higher wages. In other words, if an employer can afford to pay two people $6.50 an hour, but the government now mandates the employer pay them both $7.50 an hour, this means the employer now has to fire one of the employees. So instead of two people making a total of $13.00 an hour, now they are only making $7.50 an hour between the two of them. Can government officials get any more stupid? You can count on them to hit you when you are down.
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