Stossel: Why some capitalists are the worst enemies of capitalism

From John Stossel at Reason:

Sen. Bernie Sanders recently came up with a new business to attack: Amazon. Sanders said Amazon didn’t pay its workers enough and because of that, many qualified for government assistance.

At first, Amazon CEO Jeff Bezos defended his company.

That was the right thing to do, says John Stossel. He notes: “It’s not companies’ fault that some workers qualify for handouts. More people would collect them if Amazon were not hiring. By creating jobs, Bezos gives workers better choices.”

But the media rarely mention that. Instead, they bombarded Amazon with negative coverage.

So Bezos caved. He declared that all Amazon workers would now all be paid $15 an hour or more. That higher wage sounds good to most people, but Stossel point out that while the higher minimum is good for workers who have jobs now, it can shut out beginners…

Continue reading at Reason…

578 views