Whacked, extreme, radical, far-left Dems seem to be incapable of learning the most basic economic truths. They believe they can dictate policy contrary to basic laws of human behavior. One of the most obvious examples has been minimum wage laws. Dems in cities have been especially insane about huge hikes in the minimum wage, with no regard for the businesses and employers who pay those higher wages. The result, of course, is that businesses go down the tubes, simply give up, higher fewer workers, charge more to the businesses customers, which means less revenue, or all of the above. A few workers may make a little more money, but on the whole the workforce suffers, and as usual with the Dems, the group hurt worse are low-income workers, who the minimum wage laws supposedy benefit.
The city of Minneapolis enacted a $15 minimum wage a few years ago and St. Paul isn’t far behind. The Minneapolis Federal Reserve Bank took a look at the impacts and found the usual result–there were fewer jobs, especially in lower wage industries like restaurants. Now, Minnesota and Minneapolis have a lot of crazy policies that hurt busineses so a little hard to really disentangle the negative impacts of any one of them, but the state’s and city’s downward trend tell the story better than any analysis. But don’t worry, the radical Dems don’t really care, because they are ideologues, and for ideologues, it isn’t the result that matters, it isn’t making people’s lives better; it is the idea, the idea must be celebrated and implemented regardless of the actual results. (Fed. Res. Study)
