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The true value of the minimum wage

Sorry, it has been a long time since I posted in this blog, but what better way to get back to it by posting a video of how increasing the minimum wage is economically and morally wrong

Brace yourself…obama says minimum wage increase will create jobs

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I do like to take the mickey out of obama on this blog, but this really is taking the mickey! How does he expect business to create jobs from a minimum wage hike! Is he really that deluded.

This is what he tweeted earlier today:

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It may raise GDP slightly but it certainly will not create more jobs.

Zero hedge has asked: ‘why not raise the minimum wage to $100?’ Surely by obama’s logic, this will create even more jobs.

 

Congratulations I raised your minimum wage

What most people don’t understand is the fundamental effect the minimum wage has on the job market, particularly for young people.

If you increase the minimum wage, companies who wanted to hire workers can now only afford to hire fewer than they intended. Thus helping to create a void in the job market. The question is simple, would you rather have less people in work earning a good wage, or more people in work earning an OK wage? After all, the workforce of a country is its main source of productivity/prosperity.

 

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