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Minimum Wage Increases Are Bombing As Predicted The artificial minimum wage increase  is not only costing jobs, the recipients don’t want it because it costs them their welfare benefits. A year after Seattle raised their minimum wage, workers are asking for fewer hours because they discovered certain welfare programs will cut them off. Instead of providing workers with a more livable wage and helping them get off public assistance, employees are working less to keep their subsidies for food, housing, child care et al. Under the new wage, the Washington state stats indicate that few are m...

 have proposed gradually increasing the federal minimum wage to $15 per hour by 2025, with the stated intention to raise the pay of low wage workers. Sounds like great news for the low‐​paid, doesn’t it? An old saying from economist Thomas Sowell is that “there are no solutions, only trade‐​offs.” That is as true about the minimum wage as anything else. The Congressional Budget Office summarizes the mainstream economic consensus on the effects of the Democrats’ proposed aggressive major minimum wage hike fairly well — and I don’t think the trade‐​off is worth it. Y...

Politics and law A February 2019 Harris poll found that roughly half of younger Americans would “prefer living in a socialist country.” Millennials may not fully grasp the consequences of the government owning the means of production, but they certainly don’t like how American capitalism is working for them. They have a point. Over the past 40 years, insiders have increasingly captured the American economy—from homeowners opposed to new housing construction near them to incumbent firms that benefit from the overregulation of employment to interest groups that have transformed the fede...