Should There Be a Minimum Wage?
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Nobody who works full time should be poor. Yet a full-time minimum-wage earner with two kids still falls below the poverty line, so the minimum wage should be raised.
Barack Obama made this argument in his 2013 State of the Union address, declaring that “no one who works full-time should have to live in poverty.”
the minimum wage should be raised.
You can’t make someone richer by upping a number on a piece of paper. It’s a naive and mystical idea. The only legitimate way people get richer is by creating common preferences. That takes creativity, not the mechanical raising of numbers by fait/law. You can’t outlaw poverty. If you want people to get richer, reduce regulatory hurdles to make it easier for them to create common preferences.