Raising the Minimum Wage
Raise the minimum wage! It's simple, right? When it comes to economic reality, nothing showcases the ignorance of some Americans than this issue. Ok....welfare, bridge cards, healthcare and taxes too. But economist Peter Schiff does a nice job the minimum wage issue in perspective. He went to a Walmart posing as representatives of "15 for 15," a make-believe organization advocating that Walmart raise prices by 15% and use the extra cash to pay its low-skilled workers $15 per hour. Schiff says the surcharge would be added to customer's bills at checkout, just like a gratuity at a restaurant. While almost everybody shopping at Walmart thought the workers should get the higher wage, almost nobody was willing to pay more to make that happen. Check out the video.
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