Matt Walsh has been excellent on the minimum wage issue for quite some time, churning out piece after piece highlighting the absurdity of governments dictating ridiculously high wages to private corporations. His latest piece is another great one, but I'm not sure I entirely agree. While people with upward potential "camping out" at a $15/hr minimum wage is certainly not a desired outcome, I'm not sure that is the greatest problem with a high minimum wage.
If you are intelligent, motivated, and educated, why would you want to flip burgers and clean bathroom stalls all your life, even if you are earning enough to support your family? And on the "flip" side (see what I did there?), there will always be a percentage of the population who, frankly, aren't "cut out" for anything other than menial work, and that's OK! Should the government tell companies what to pay? Of course not, but if Sammy the fry cook spends the next 20 years working his way to chief cook and bottle washer at Micky D's and gets a few raises along the way, that's perfectly fine and, in the grand scheme of things, his work is just as honorable as mine or anyone else's.
No, the greatest problem with high minimum wages is that it will quite literally wreck our economy.
Here is a snippet from Walsh's piece:
A Pew survey found that half of minimum wage workers are between 16 and 24 years old, and another 22 percent are 25 to 34. Then there are the workers near minimum wage (which means they’d also see a massive bump in pay if the federal minimum were increased to $15), and half of them are under 30. This is why I weep over the “fight for 15″ movement. Most of these people are young — their whole lives in front of them, a billion potential paths they could walk, an infinite number of opportunities — yet this is their fight? Fifteen bucks an hour wrapping burritos at Chipotle? That’s all they’re after? Don’t misunderstand me: I’m not saying they want too much. I’m saying precisely that they don’t want enough.
Indeed, an increased minimum wage will certainly make many of them comfortable — especially in the parts of the country where 1$5 an hour really translates to $19 or $20 – and that’s exactly the problem. My great fear is not that an enormously inflated minimum wage will unravel the economy, although it surely will, but that it might actually succeed in its goal of making a bunch of 20-something fry cooks “comfortable” in their jobs. This would be a profound catastrophe because these jobs are not supposed to make people comfortable; nobody is supposed to do them for years and years on end. You’re supposed to get in and get out. Move in and move one. You’re meant to use it as a platform on your way to something better, but the platform is not meant to be a comfortable place to set up camp and hang out for a few decades.
Read the rest here.