Despite all the evidence that increasing the minimum wage does little or nothing to reduce poverty, California Gov. Jerry Brown and the Democrats in the State Legislature just passed another minimum wage increase. Not one Republican in the Assembly or Senate voted for the bill, and all Democrats, save two, voted for the minimum wage increase.
The minimum wage has always been an arbitrary figure. If the arbitrary minimum wage is inflated, this also inflates prices, leaving low-wage workers spending more on everything.
This political decision by Brown will likely come back to haunt California, much as the 1999 political pension deal signed into law by Gov. Gray Davis did. Davis gave huge… Read More