"If socialists understood economics, they wouldn't be socialists." – F.A. Hayek.
Rest assured, this demented old man DOES understand basic economics.
Unfortunately, the socialist and commie losers who support him do not.
I supported a $15 minimum wage when I was 17 years old. I supported it because I understood nothing about economics or finance.
So what is the real reason this guy supports these policies?
Simple, these political thugs support this kind of garbage because they aim to choke off small businesses in favor of their large corporate donors.
They already do this with federal regulatory bodies such as the EPA, FDA, and other useless 3-letter agencies, and now they want to cement that with this new idiotic legislation.
Take a look:
The Gateway Pundit had more on the story:
Joe Biden on Thursday vowed to destroy what’s left of small businesses with a $15 per hour federal minimum wage.
Biden unveiled a $1.9 trillion Covid relief plan which included a $15 per hour minimum wage, $30 billion in rental assistance and a ban on evictions and foreclosures until the end of September 2021.
Democrats and RINOs destroyed small businesses with unconstitutional Covid lockdown orders.
Biden promised to help only all non-white owned businesses to reopen and rebuild — whites need not apply.
In an earlier report by Fox News the $15 minimum wage is slammed by economists:
According to an old saying, if you ask five economists for advice you’ll get five different answers. But when it comes to a $15-an-hour federal minimum wage, economists are in near-universal agreement: it’s a bad idea.
That's the conclusion of a new survey conducted by CorCom Inc., the company I head. The survey was released this week by the Employment Policies Institute.
The survey coincides with the push by House Democrats to pass the Raise the Wage Act of 2019. The bill would increase the federal minimum wage to $15 an hour – a more than 100 percent increase – by 2024. The legislation would also raise by more than 600 percent the minimum wage for workers who earn tips, like restaurant servers.
The current federal minimum wage has been set at $7.25 since 2009. Tipped workers are subject to the same hourly minimum wage through a combination of a base wage and tip income. Census Bureau data show that most earn far more than the minimum.