That's because I recognize that human behavior can be modified by actions that incentivize and punish. Simple logic really. If you punish economic behavior (with high taxes), you'll get less of that behavior. If you reward economic behavior (lowering taxes), you'll get more of that behavior.Originally Posted by Xander
A simple math problem for you:
A restauranteur has 2 full time workers currently making $12/hour. How much additional money would he have to spend if the minimum wage were increased to $15/hour?
Answer: At 80 hours per week for the 2 employees, that's 4,160 hours per year. The minimum wage adds $3 per hour in additional expenses. That's $3 x 4160 or $12,480 in additional costs. Not an insignficant expense. Now do you see how minimum wages kill businesses? If this guy's profit margin is $30,000 and you force him to spend an additional $12,480, he's not going to make it.
That's a direct quote from the owner, but perhaps you know more about the business than the owner.Originally Posted by Xander
It's simplistic only if you reject the notion that certain policies encourage economic growth and other policies hurt economic growth. Seriously, if you think this, why bother supporting any economic ideology?Originally Posted by Xander