Bidens executive orders/proposals on minimum wage while at first may look welcoming in the long run it will cause extreme inflation and unemployment.
While a small increase in the Minimum wage may not have this effect more then doubling it from its current rate set in 2009 of $7.25 to the proposed $15 most certainly will. This will lead into price increase of products and employment decrease. It never will take people out of poverty but rather cause a inflated economy and actually cause a decrease in buying power.
#biden #inflation #unemploymeny #minimumwage
My own experience with minimum wage increase mirrors what the data says, more unemployment and business cutbacks.
Pizza place went from 3 people closing to just me and most other people not laid off but given zero hours. I netted about $15 more a week but the work S U C K E D after.
Biden has also rescinded Trump’s order protecting the electric grid from interference by the CCP.
What’s welcoming about government mandates attempting to manufacture economic results to fit a political agenda? Oh, right. It’s failed every single time it’s been implemented, but what the heck, let’s try a planned economy once more. Maybe this time we’ll get it right. Because doesn’t it stand to reason that a panel of “experts” would know better than the market what something is worth?