Saturday, November 07, 2020

Florida voters approved automatic minimum wage increases in 2020 election

From the Wall Street Journal:
"In Florida, 61% of voters approved an initiative that will significantly raise the state’s minimum wage, from $8.56 to $10 an hour next year, before it increases by $1 a year until hitting $15 an hour in 2026. Florida is now the eighth state to adopt that wage floor and the first to do so through a ballot initiative."

This is very regrettable and goes to confirm again the poor economic education of the people! To put it very bluntly, only fools vote or desire minimum wages!

If voters want to help the poor etc. donate money to e.g. organisations that help the poor improve their lives.

The arguments against minimum wage should be well known by many:

  1. It is unconstitutional and a violation of individual liberty and property rights
  2. These are big government wage and price controls. They represent a severe government intervention into free markets
  3. As a minimum, the minimum wage hurts disable people to find dignity in work. With minimum wages they depend on assistance from government or others 
  4. It is highly wishful thinking/a fantasy on behalf of citizens that such measures could improve peoples lives
  5. The economic damage is far greater than the benefits
  6. Shortsighted populism won over reality and common sense
  7. By accepting such unconstitutional measures the door is wide open for government or powerful interest groups to seek bigger government

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