But of course, it's an obvious subject and conclusion.
Labor Shortage Caused by Government by John Stossel (townhall.com)
America has a record 8.1 million job openings.
The media call it a "labor shortage."
But it's not a labor shortage; it's an incentive shortage.
"No one wants to work," says a sign on a restaurant drive-thru speaker in Albuquerque, New Mexico. "Please be patient with the staff that did show up."
I never wanted to work. I got a job because I had to support myself. That was good for me. It forced me out of my comfort zone. It made
Great points Tim!
Biden(or those controlling his policies) claim the reason is that we are just not offering workers enough money to work....and we must increase the minimum wage.
He's already started up on the Biden solution to the problem.
What's incredible is how little attention that this has received.
A 27% increase in the minimum wage is massive.
With the money supply hitting stratospheric new records & a hugeincrease in the minimum wage, its hard to imagine how there won't be major inflation.
The increase from $10.95 an hour will begin rolling out in January.
metmike: I agree that $7.25, the current national minimum wage is too low but jacking it up astronomically like this is going to have unintended but inevitable negative consequences.
"A study released by the nonpartisan Congressional Budget Office in February found that raising the federal minimum wage to $15 an hour would bring nearly 1 million people out of poverty over the next four years, but it also found that it would result in the loss of 1.4 million jobs, raise the cumulative budget deficit by $54 billion from 2021 to 2023 and result in higher prices for goods and services."
Funny thing about the minimum wage debate, as is true with almost all debates we have these days. No one on one side cares about facts. That side that deoesn't care about facts is almost always the liberals.
As Reagan said.. "Our liberal freinds are not stupid, it's just that so much of what they know is not true".
But here are some basic facts.
Your average Burger King owner makes about 80K per year. It's a lot of work, but a good investment. And after a few years, with some hard work, they may buy one or two more stores. Lots of work. But after 20 or 30 years, they'll sell the stores and retire nicely. The American dream, right?
To run that store, the owner needs a staff of about 8 for 16 hours each day, or about 896 man/hours per week, or 46592 man hours per year. A $2/hour rase would cost 93184/year, or 13+K more than he makes per store.
If he raises prices to offset the cost, the employees will get the same amout of food for each hours work, and the same will be true for everywhere that adjustst prices to pay for the increased wages.
And, his competition will cut staff and automate and keep his prices the same and put him out of business. So the raises won't mean much at all when they become unemployed.
But liberals will feel better, and thats all that really matters, right?