THIS Is Why The $15 Minimum Wage Is A SCAM – Who Benefits & Who Loses?

Josh Sigurdson talks with author and economic analyst John Sneisen about the inherent flaws in a $15 and hour minimum wage hike. Not only are there flaws but in general, it’s a scam! In this video we explain why.
The Canadian province of Ontario plans to raise the minimum wage to $15/hr by 2019 following Alberta’s decision to raise it by 2018.
When you raise the minimum wage to $15/hr you cause the price of living to go up making 15 the new equivalent in value to 10. So value doesn’t change. In fact inflation is the biggest problem those in poverty face thanks to out of control central planning and manipulation of both the monetary system and the markets.
But this isn’t the only inherent problem. So many calling for a wage hike are using McDonalds as an example. They say “McDonalds can afford to pay $15/hr!”.
Well of course they can! That’s the issue though. Raising the wage will cause smaller businesses and competitors to either lay off employees or close their doors. This causes competition to go under, further monopolizing businesses like McDonalds! And as for McDonalds, they can also afford technocracy as they can just put machines in charge of orders leading to vast unemployment!
The more regulations, the more taxation, the more monetary manipulation, the more poverty! This isn’t rocket science! Everything the government does, the free market can do better!
There’s a reason why all of these MASSIVE corporations are lobbying for the minimum wage hike! This benefits them while drastically hurting those forced into the bread lines.
The most basic economic and market principles debunk the notion of this further monopolization and inflation. You take money away from the employer and you’re taking money away from the employee. This is extortion and this is part of a massive debt servitude agenda which is playing out in both the markets and monetary system. It’s time people finally understand this obvious fact.
Stay tuned for more on this subject!

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8 thoughts on “THIS Is Why The $15 Minimum Wage Is A SCAM – Who Benefits & Who Loses?

  1. When I first heard about this, at least a year ago—I immediately realized (using simple logic) that this would cause the price of food, gas, clothing and more to—–GO UP. WHY??? because employees of those companies who provide the food and clothing etc. will get raises also, therefore causing those companies to have a higher cost of production, a business expense, and so they will have to INCREASE the COST of those products to pay for higher wages.. So, using McDonalds as an example, each employee getting a big raise (which will not be immediate as the wage increase is over a period of 5 or 6 years) will pay a higher cost for all the food McDonalds sells. So, the extra money made in wages goes to pay for higher costs of living (caused by the higher wages).. Nothing is gained. People wanting $15 are thinking it will happen immediately when passed, AND they are already calculating what they will do with “ALL” that EXTRA money. Comparing it to what they are making now. Except they will get depressed when they find out the cost of what they need has risen and they are not ahead. Simple logic.

      • Easy to skip over all the millions of people that now spend an hours wages to purchase what took then 2.5 hours before the raise. Sure prices go up do to people getting raises, but not at the same rate or worse. That is part of the fallacy. Small business may take an initial hit, but all will balance out within 2 years. Then everybody wins from then on. Look long range, not just tomorrow. Next year. 5 years.

    • Labor cost ramifications are greater than you think!
      The dirty little secret is that nearly ALL organized labor contracts throughout ALL industries have clauses that directly link their existing negotiated rates to the official ‘minimum wage’. Should the minimum wage increase, automatically, so will ALL organized labor wages by the same percentage! This is as highly inflationary as the Fed’s money printing.

  2. The only way it might work is on the tax side via a ‘positive tax’ or a universal basic income. This recognizes that different businesses have different cost structures. This is also a problem as it can also be ‘gamed’. We have to face the fact that a small percentage of people are greedy psychopaths and the system will collapse as a result of this and no matter what we do. Cynical I know but that is the reality.

  3. If McDonald’s and others can greatly increase profits by putting in machines to replace people, they will. Low wages have kept people slaves that can be replaced by simple robots. Is that supposed to make anyone feel good about their job? $15/hour is not a lot. No matter what any of these conservative slave owners say to prove their non-point. $15 is a fairer wage than minimum wage is now. Below poverty level in most places.

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