"Jamie, would you be my b*tch for $1?"

He got an A in physics

@@mistersonnen848 zing

🤣

would have been so funny if Joe said that hahah

That was raised to $14 overnight from $11. Imagine owning a coffee shop and having to pay all those employees an extra 25% overnight? It was a political move

I left because we were understaffed and overworked because he had to let some people go. He eventually went out of business

@@markymark93 True story. It's crazy how simple this really should be. If a coffee shop puts up all the risk, and overhead, your employment has to bring enough revenue to generate a profit. If you're only generating profit at 10/hr, you should only get that. If the government then jacks up the m/w to 15/hr, well, looks like someones getting fired, and someone is going to have to pick up the slack and do more work...

Not exactly surprising a coffee shop would go out of business during a worldwide pandemic. Of course it’s hard to find a good job as a student now, but even at $14 an hour you didn’t want to do the work. How hard is it to do a “shit ton” in a freaking coffee shop? Would you prefer to work in a coffee shop for $8 hr?

@@aaronboldt3523 it's a total question of productivity. You could have 2 employees doing the same job. One could pump out 100 coffees an hour, the other is a lazy ass and can only make 20. Why on earth should they make the same amount... If one is producing 50/hour of revenue, and the other produces 5, this shouldn't even be a discussion lol. Plenty of people just get a minimum wage job, and aren't productive at all, so they don't get raises. Then complain that they should get money, so the government instead of saying "work harder and produce more money for that business" says ok we will raise the minimum wage.

Nope. Switzerland has a minimum wage which is pretty high by the way (around 22 dollars).

But they do have collective bargaining, which this idiot also opposes. That's the part of "countries do better without min wage" that Peter Schiff would conveniently leave out

@@jacklan4103 yepp. You're right... My brother works in a branch in CH where the have one. Thanks for the correction!

How did you feel about the socialized healthcare? I've heard good and bad things about it

@@jacobwilliams9736 too expensive but if you happen to need any medical-related service, it's the top of the top. I don't like that it's mandatory tho. My wife paid around 400 and I paid 550 a month (you see how much money we left there in a 5y period!!), and my wife had to go to a doctor only once in this whole period... wasting about 60k for a service we didn't really need nor asked for kinda hurts. We come from a country where it's "free" (nothing is actually free in this life but you get my point) whether you're employed or unemployed! Now we're both self-employed and it costs us 110 buck a month for BOTH of us! Now that is something I can accept...of course if we need a scan or an mri for example, we have to wait several weeks where in Switzerland it would have been the same day, but that's not really a key argument since we're not 80yo and don't require healthcare services on a regular basis anyway

100% agree. It's amazing how so many people don't do this when it only makes sense. Why should I listen to you if you won't listen to me.

yeah, but he isn't exactly competent in every single thing that is brought to the show, it's impossible for anyone, he should have gotten someone on the other side of the debate.

That's hilarious. No Pop is an idiot at everything except basketball.

*Gregg 😛

Raul Flores Made at least one idiotic move by taking TD out and giving Miami a championship they already lost. And he did thst for 2 plays.

He isn’t

This guy is way more attractive than Greg Popovich.

Now we gotta use our free time to develop our skills

@@kingkoi6542 they always did that, in fact thats what some free time needs to be used for. My thoughts on min wages is that in a proper system it should not need to exist, however, now I think the economy makes it so that minimum wage is needed only because it and many ither choices caused money to be less valuable, if it didnt exist and other policies didnt exist to cause money to be less valuable (including high taxes) then less money would be more acceptable because it will pay more than current wages. Min wage and other policies cause inflation which makes money worth less and less.

@@thunderlifestudios Yes but implementing minimum wage isn't going to end the inflation or devalue of dollar. Instead it just puts more strain on the individual and small business who now get fucked over from GOP restrictions. More restrictions = a less free market. But of course restrictions are necessary on labor rights, environmental impact and decentralizing monopolies as well as some other facets.

@@kingkoi6542 I agree with you but in our free time we can teach ourselves skills that benefit us outside of work I'm personally trying to find a passion to learn. Its overwhelming but I try

@@rickDArula I recommend you start writing, just get your thoughts out and self reflect. But like you said, your passions.

No. Because minimum wage means people have more money to spend in their businesses, which raises their profits.

@@cockoffgewgle4993 correct. Also, there’s an increase in productivity and a decrease in workers turnover.

@@cockoffgewgle4993 How can they spend more money when they get no job in first place? Where is the logic?

@@aaaaax927 They do have jobs. Companies don't immediately sack everyone if they have to raise their wages. Companies employ people because they need them. They still need them if they cost more.

@@cockoffgewgle4993 Yes, but the company still lost revenue, because if they have a worker that they paid 5$ and now they have to pay them 7,5$ for example the company lost 2,5$, but you say it will increase spending which is true so if someone comes and buys a cupcake for 2,5$ the company didn't generate 2,5$ in pure revenue. Maybe 1,25$ so they still lost 1,25$.

Don't be ridiculous, I will have someone else help me raise my children. That way I can never become a real man and raise my own kids and be responsible. When is that ever a problem? right?

@@josierunyan8545 making a conscious decision to not have children until you can at the very least support yourself is not "looking at it from a superficial level." These "women" you speak of have choices and with choices comes decisions and with decisions comes consequences. Condoms are free with minimal effort, and if this is too much work for these "women" make the guy supply them "no glove, no love." If these "women" are as poor as you say they are then they would be eligible for THOUSANDS of dollars for a secondary education. FASFA max is over $6000 a year, that's more than enough for "most" state colleges to go at least part time if not full time.

This is a morally bankrupt statement.

Looking it at the wrong way man

Ask Japan how well that has worked for them. They have the oldest population and in the next 40 years will be obsolete if they continue in the direction. They are heading. On the other hand China & India biggest strength is their population. It's not black & white as yawl are trying to make it out.

@trufiend138 give me a time stamp when that is said.

@@LeftIsFascist The time stamp that guy is supposed to give is 0:56 where Schiff actually has context to the statement in question.

@trufiend138 what? sounds legit. youre conflating the 2 options. its not one over the other.

Be like Joe.

This comment didnt age well with the first debates of 2020

At first i thought i was actually listening to him

@@guilo123456789 Mr Friedman explains it better.

And the people of Chile don't

Milton Friedman actually advocated a negative income tax on low incomes, so if you're working at $5 an hour, you would receive $2 for instance (or whatever amount is chosen) for a total of $7 an hour. This would employ the person creating a new good or service and you're paying $2 an hour instead of $10-$15 otherwise in benefits and unemployment, so the taxpayer is actually saving $8-$13 every hour by having people work low income jobs. You'll also have other added benefits like less crime since people will be at their jobs instead of bored on the streets.

@@yolok3 True. The Negative income tax. Well remembered! It´s a great. Make the State useful and helpful creating jobs for people.

The US will never be singapore

Peter Schiff advocates against government he doesn’t think that all people deserve healthcare. In fact the USA is the only country who rips billions in profits on human suffering. I’d rather not own the house and pay government taxes knowing that everyone has an access to quality healthcare and education.

@Dustin Stich Tell that to the someone who got laid off and lost insurance. Get back to me and let me know how it goes.

@Dustin Stich How about if my leg is broken or I have a bad case of covid? What if I'm going thru chemotherapy? Think man

@Dustin Stich Yeah dude you're an asshole and everyone who reads that comment is gonna probably agree.

Ahhahahahha

Great understanding of both micro an macro economic! This shit is ridiculous

Fax

Unbelievable in his thinking. $1 is better than zero, one cent is better than zero.

He tried to soft pedal it for the dim KZfaq crowd.

also try Richard Wolff, he as well speaks out on this issue

@@nickcrompton1728 Wolff is a walking fallacy

Try Milton Friedman!

Walter Williams is probably the most invested in this, seeing as he was a teenager who in part lost his job because of this.

The Sowell man

@Mike S It's strange you know so much but can't spell "too" correctly half the time.

Mike S can you elaborate on this...

@Mike S Oh, sorry. I thought I read it in the title.

no it's not. It's just rehashed Austrian school talking points. The vast majority of people employed at minimum wage remain so for the duration of their life with no educational prospects. People's jobs are almost entirely dependent on the jobs of their parents. There was a long period where workers in the US werne't paid a minimum wage and the Southern states attempted to secede to keep it that way.

@@gamerknown Yeah.... You're right. It's slavery. Everything is slavery. You're right about your response because you show some faux care about slavery on the internet, so clearly you are an honorable person. Give me a break.

Literally

Can I read it

l D and how long ago was that? $5 an hour back then is not $5 an hour now. So you were probably making more than minimum wage would have been. I don’t see your argument.

@@IWantToOutliveMyChildren 25yrs ago. Minimum wage was $4.75ish. My argument is that young men are not worth a whole lot because they have energy but no real skills. I was allowed to sell my time and energy for a small amount of money but it made a large difference in my life choices and outlook.

Rab1d Koala Working to learn is what he is emphasizing, and it pays off in the long run, instead of only working for the money and leaving it at that

That’s minimum wage now

Ok boomer

Brian Jones ah the right wingers. My feelings agree with this so therefore it is 100% factual. Peter Schiff has no credentials as an economist. He’s an awful investor too. www.nakedcapitalism.com/2014/02/peter-schiff-wrong-everything.html

I agree with Omar, this is characteristic classical economics. From the two or three schools of thought that I've studied beyond a cursory glance, the model Schiff is explaining has the fewest holes or controversies, and actually provides a better stimulus in the long-run. The rest is just short-run adjustments, as opposed to politics, and many economists have argued this.

Brian Jones i agree, but you’re mom does.

​@@johnadams8371 "feelings" Sounds like a fun way to describe the stress of having 3 jobs which are all massively underpaying them.

@@LeeH688 Doesn't matter his credential, if he is talking facts, then his argument is still credible.

There's the rub. You went into healthcare. Everyone goes into healthcare or government because the private sector doesn't pay enough, while the healthcare and government jobs soak everything up in the labor market. Look deeper and you will find the truth. Stop focusing on minimum wage. It's the fact that the government and healthcare can keep paying ridiculously high wages because of huge deficits (government) and premiums (healthcare), driving out the private sector. That's what is really happening.

That's nice for u, but inflation, and employers aren't the same.

So your experience is 22+ years out of date and almost on the level of someone's grandpa saying "when I was your age, I got my job by walking right up the manager, shaking his hand, and telling him I wanna work hard" because he doesn't understand how competitive education and jobs have gotten in decades.

@@chuckgreen3629 amen

Bullshit

Thats Why i love Europe, we dont have slave wages.

@@olliegreen3446Are you saying europe does or doesn’t have minimum wage laws?

@@liamrmorgans921 they do, just better minimum wage laws than the US. Here if ur a teen ur paid roughly around 20 to 24 dollars an hour. But more as an adult.

@@olliegreen3446 i dont think you read the op comment properly

Why's the unemployment the lowest it's ever been right now? This is what I'm grappling with. If minimum wage hikes prevent job creation then why is the unemployment at a record low. I'm not saying Peter Schiff is wrong overall, I oppose the minimum wage as well.

They still do that at safeway..

Yes, it's better that people are forced to spend all their time earning a wage that cannot cover their monthly bills...

vgrace78 ok boomer it’s 2020

@Mike S I'm curious why you think it's a "zionist" thing? And what exactly is that? Are you a zionist only if you believe in your god given right to the lands of Israel, or is every person of jewish decent a zionist? Or do you have another definition?

@Mike S anti-semite

The problem is they will still expect you to sell your soul for that dollar an hour. Just because you earn a shitty salary doesn't mean your employer will be content with you doing nothing for that shitty salary.

@@mathewlegrange5880 well then ill quit if i feel im not being paid fairly. Only government has the power of coercion, not corporations. The best they can do is exploit but you have a better chance of rising above exploitation than coercion.

@@antoniorenteria2896 corporations are just as bad as government, if not worse. They have a goal, and that is to make as much money as possible with the least amount of overheads/expenses. If they could have you work for free they would gladly do so.

@@mathewlegrange5880 they are not worse, they dont have the power of coercion and enforcement. They can exploit, which is almost the same as force, but not quite there.

The employer would not expect much from you.

The minimum wage law were established to give employees more power. Infinite skills does not equal infinite money. Without a minimum wage sweat shops will exist. With a high min wage everyone with a Job will have a good standard of living

@@jameswhite3415 Except what happens in reality is you have less employees doing more work. If I own a movie theater it costs $5 for a front desk worker, I can hire a bunch of them because it's affordable. If I'm mandated to pay them $15, I'm just going to hire 1/3rd of the workers and make them do 3x the work.

@@tydal6516 Which creates more opportunities and better jobs. Rather than having a majority slave class and an upper class we get to have a middle class from min wages. Who spends more money. 1 guy who makes 10 million or 10 guys who make a million? Milton Friedman is nothing more than a bootlicker.

@@jameswhite3415 ( 3 people making $5 ) or ( 2 making $0 and 1 making $15 ). Which has more income inequality?

@@edelbarcenas4672 You don't have the morals and you don't have the logic. Three people making 5 an hour are not going to be able to go to the movies. 1 person making 15 will have enough money to spend to create more 15 an hour jobs. You are such a bootlicker. Oh please throw your penies at me from your wagon sir!! Yes it's okay you killed my kid you gave me money!!

Thats not entirely true. CNC just "push buttons" but it's more involved than that.

In machine shops in the northeast there is a huge demand for skilled machinists, programmers and engineers. In the small aerospace shop that I'm at now shop floor personnel make anywhere from high teens in burring and shipping, to 35+ for lead positions. All jobs are posted internally first. In fact, I was hired from within from milling to engineering about 2 years ago. In my experience it is mostly a question of effort. I can think of quite a few operators (button-pushers) that constantly complain they aren't paid enough, but still refuse to learn any new skills or give more than the lowest possible effort.

Thanks, wanted to say this... If we just let people with good enough jobs and pay have a family good luck finding future generations. There are not enough jobs to climb your way up. About entry level jobs you can simply put an escalating minimum wage from 15 till 25. At 25 everybody should want to be able to make a livable wage, even if it is the minimum. If he doesn't have good enough skills to even get a minimum job, just call it an internship and let him learn and pay him whatever he ia worth...

BS. I started as an entry level operator in a factory. I noticed several opportunities to improve product flow and presented my findings to my boss. My boss showed his boss. I got a promotion. Then another. Then the big boss gave me a project to improve efficiency in the entire factory. I had workshops with all the operators since they were the experts. They gave me ideas. I implemented them. Now I’m a senior manager. I went from a temp worker to second in command of the site. It’s possible. Don’t tell me it’s not.

@@kevinremsen5627 you wore out those knee pads, huh lockjaw?

JJoe what sort of stuff did he say that wasn’t true?

It was always true

@@reterumstrict1091 everything he said was wrong.

@@reterumstrict1091 we've been over this as a society already. See industrialization. Child labor and litterally working to death for a crumb is the result.

Petah Runs the jewels We aren’t in the times of industrialization there’s now tons of government regulations reguarding the workforce that weren’t in place back then designed to help workers

Que??

They say need work experience. But I understand why pay a 16 year old 15 a hour when a 30 year would do it for the same price. They obviously are more qualified.

do you have any engineering or medical knowledge when you’re under 18? there’s a reason people under 18 can only work certain jobs.....

@@found_my_chapstick190 you dont need those skill to work at minimum wage loll

Ac Maiden good one. you’ll go far in life.

So minimum wage raised your income

@@cockoffgewgle4993 after i lost my job, i was lucky to find another job 6 months later, but i lost income for 6 months that i never got back. so my income actually went DOWN for entire year. some kids had to wait till they were older to get a job, like at 17 or 18, because minimum wage was too expensive for a young guy who didn't know shit. what minimum wage does, is cut off opportunity for the youngest people which forces them to get jobs later in life. so they can't rack up experience while they are in early high school. that slows the maturity of American young adults in the long run.

@@cockoffgewgle4993 god you're dumb

@@LuisVelazquezLV3 When I started my first job, Labour had just introduced the minimum wage and a raft of worker protections. I benefited hugely. I got what was a shitty job in a supermarket, with a guaranteed decent wage, contract (meaning it was hard to sack me and my hours were guaranteed), guaranteed breaks and a whole raft of benefits. The data doesn't support your hyper-capitalist view or, at all. Your income went down for the year but almost doubled the next year. Can you do maths? You benefitted from the minimum wage hike. You earned more for doing less work and got 6 months off lol. Without it, you'd have worked 25% harder for less money, over a 2 year period. "Anyone else who didn't have experience, had to work for free (or couldn't get a job.)" That's obviously the bullshit part of your anecdotal experience.

@@cockoffgewgle4993 how old were you???

rayrza2 haha me too

Hahaha same

All those white people look alike.

I would rather become a gangster before working for minimum wage. Short but sweet life. Forget Schiff. Every place has a minimum wage anyways. It's natural.

rayrza2 haha me too😂🤣

He's rite as many people who reproduce do not make the income to barely support themselves, Why should you penalize the Tax payer to subsidize ones income, Food stamps etc. because they decide to pump out 3- kids, and pass the burden to the Tax payer. It's Bullshit.

Wes Harrington What’s bullshit is how the Republicans FUCK UP THE ECONOMY ( Wall Street 2008) but then go ahead and put illiterate republicans on tv telling us how people need ‘work harder’ go fuk yourself.

@@Soundofsilver2007 Democrats fuck up economy. They want more government regulations want more safety nets wants free education and free health care want to raise the minimum wage all things that hurt the economy. Repliblicand want to limit government control thus making it more capitalist which is the true best economy out there.

Tony Boy tfw people don’t understand democrats in the past had the same values as modern republicans and just switched the names 🤦‍♂️

@@Fanofmusic106 only party Ive seen fuck up the economy are republicans. Thats why Democrats always have to save their lying dumbasses.

You should really listen to everything else he has to say too. The demonization of libertarians correlates perfectly with the governments need to self-preserve.

Look up his stuff from 06 predicting the housing bubble

@Drinkin dat Hemlock You mean the Richard Wolff making emotional appeals, and presenting false dichotomies, and never actually addressing the issue that he himself brought up in the first place? Yeah, consider me underwhelmed.

I wish has spent more time on the notion that those with minimum wage jobs suffer most from the price increases caused from higher labor costs. Because it's not just that the cost of goods and services go up in general, The cost of goods and services goes up disproportionately for the goods and services relied on by.... People working a minimum wage job. Where do low income households buy their groceries? (places that rely on minimum wage workers) Where do they go out to eat? (places that rely on minimum wage workers) Where do they buy their durable goods? (places that rely on minimum wage workers) Where does almost every nickle of their income that isn't paying a bill go? (places that rely on minimum wage workers) And if the jump in minimum wage is big enough, the bad effects can basically start a feedback loop not only do minimum wage workers rely on places that pay minuimum wage, places that pay minimum wage also rely on the business from people who make minimum wage. The buying power of their inflated dollar goes down, they buy less. Customers buying less means lower sales volume, lower sales volume means higher prices, higher prices means customers buy less... lather rinse repeat.

Drinkin dat Hemlock I listened to his take on capitalism and social unrest with the reopening of businesses throughout the country. Our business reopened and almost everything he said was going to happen was either wrong and didn’t happen or he was right and it did happen but he made it sound bad and it was actually really good for our company. This was a personal experience so I won’t apply it to everyone, but it also makes me never want to listen to him again because he was literally wrong about every single thing that I experienced when reopening.

True, but Joe is one if the most uninformed and ignorant libtards on the internet. Joe is fun to listen to, but he’s a dope.

You don't have to pay the health are companies

You’ll say that until you get cancer and then ask yourself want your life is worth, you’ll pay anything you can

You can and then you get shitty health care coverage. Or the government can subsidize it and force health care costs to skyrocket, oh wait...

I pay nothing because that is what they are worth to me. It’s not that hard, I’ve been doing it for years.

Yolo Swaggins do you really think they can help you with that?

I remember that story, it really ticked me off. In 20 years she couldn't do anything but be a cashier at Walmart? Never progressed to a team leader or whatever or tried to find a better job. At some point, you have to take ownership of your own future.

@@mh_golfer It's basically putting inexperienced young people out of work by trying to make entry-level positions a career.

The point he's making is that if they DONT there is a price to pay. Like if you don't pay your employees enough money you will lose them in a free market. And if you are an employee and accept a lower wage than someone else will give you its your own fault.

@@colineccles5102 That's a sociopathic way of thinking. It's like saying if a car mechanic overcharges an old lady by 80%, it's the ladies fault for not making a better decision. No, it's the mechanics fault for knowing exploiting a weaker person. Lower intelligence/weaker people don't deserve to be preyed upon because they aren't aware enough to make better decisions.

@@jdogggg9002 yeah i mean thats one extreme example, but if the mechanic keeps doing that he will lose customers OVERALL. The old lady doesnt represent the mechanic's entire market, and if she were to ever go to any other mechanic shop if she were out of town or something chances are shed realize shes getting ripped off. People's desire to get the most money for their labor incentivizes employers to treat them fairly or else they will just go work somewhere else. Obviously SOME government regulations are necessary but this is true for the most part

@@Adam-zy9fv not extreme whatsoever. People take advantage of weaker people in that manner often. It's easy to say "make a better decision". How about people act morally? If as an employer you know your workers make you $35 an hour, it's morally wrong to offer $5 an hour knowing they have to take it. Minimum wage is 100% needed to keep workers from exploiting weaker, desperate people. The thought of "they should make better decisions" is sociopathic in nature.

@@jdogggg9002 well personally, im a little torn on the issue of the minimum wage. But in theory, i get what this guy is talking about. Youre right that its morally wrong to knowingly rip off your employees, but its not that i would be EXPECTING them to make a better decision as much as me KNOWING that they will make a better decision so it incentivizes me to NOT rip my employees off. Like this guy said, in a hypothetical situation where theres no minimum wage, if someone is making a really low salary its most likely not because theyre getting exploited. Its more likely that thats just what their labor is worth, because hes not skilled enough to be more productive and offer more value to a business

littlenicky419 this used to be the case before minimum wage in many industries but when you have to pay everyone the same regardless of productivity it leaves less money to do this. What you see now in states where they raised the minimum to 15 companies ask for 2-5 years experience on entry level positions basically putting anyone with no experience out of the market not to mention that most employers then automate and cut their workforce leaving people unemployed. Minimum wage jobs used to be for teenagers to help them gain experience so by the time they were 21 they had enough experience to move on. It’s interesting to hear first hand accounts of what life was like before minimum wage laws, it predominantly impacted and targeted the black community many accounts talk about how before they even put a dollar minimum wage they were making a 1.50 and after the minimum wage they got fired and replaced with a white teen for a dollar

In removing the minimum wage, companies would have a race to the bottom wage drive. Markets are cold-hearted. They don't care about their employees, just their profit margins.

harry parker many countries in Europe do not have a federal minimum wage and yet there average wage is higher then ours. Many nations with better average income then us also don’t have a minimum wage. That’s not how economics work companies will always pay for good talent because if not they’ll fall behind to the competition. A race to the bottom is actually what you get with a minimum wage because you have millions applying for the same low skill job and they don’t have to negotiate or improve working conditions because they have so many clamoring for the same job .if companies were forced to negotiate for every single worker or lose them you’d see higher wages . And in areas where the wage does go down it would help low skill young people actually have a chance to get a job and gain experience instead of being forced to do a no pay internship because most companies that pay 15 an hour want 2-5 years of experience

Also in places like New York or Washington, they LOST jobs and even though employees were making more per hour they saw a wage cut of at least 250 because companies just cut hours or automated . People need to realize minimum wage jobs were never meant to be career jobs they were meant to gain experience to move up or move on. And minimum wage also kills competition and drives up prices because for the companies that don’t slash hours they just pass on that cost as a price increase to customers which basically cancels out the wage increase because those same workers end up having to just pay more for the goods they buy. It used to be that going to college was optional you didn’t need it to make a good living and enter the middle class, why? Because you could find a job with a high school degree and within 5 years move up or move on to a hiring paying salaries job. The interview and screening process is expensive so companies used to be incentivized to train and promote from within because people who already had the skills and experience wouldn’t look twice at a management job for a perceived lower tier company . But now with the lack of competition and increases in wages most companies save money by just giving someone who already had the experience the money they want instead of spending the additional time and money on training in house. Even commission incentives have gone away in most places that had them .not to mention the huge increase in outsourcing .when you look at the numbers minimum wage increases doesn’t help the worker it just makes things easier for the big companies to monopolize. You think Jeff bazos increases the minimum wage out of kindness? He did it because he knew his competition would have to also do it in order to compete and most of them wouldn’t be able to afford it long term so they’d go under leaving him more market share.

@@Dtoons53 These countries generally provide big subsidies for low wage work, free healthcare, free university tuition, collective bargaining contracts that negotiate a de facto 'minimum wage', comprehensive + extremely robust union memberships and huge amount of worker protection. The US is miles away from having any of these things. The idea that a hard-line libertarian government would come in, scrap the minimum wage and suddenly everyone's life is better is just such bollocks. America is NOTHING like the Nordic model. It's scathing free-market economy. With the kind weak regulation around private sector activity, I really can't see a complete removal of the minimum wage benefiting anyone massively. Just having a job isn't such a great thing when you've gotta work to earn your poverty.

The animal kingdom is like this. Reproduction only when life is good.

Yeah but there will always be people how "only" have such a job with children. Do you want them to starve? Do you want them to be homeless? Because this will just promote another failure

@@ichbinrudi Those people should take responsibility and pick another job.

@@NihilSineDeo09 you act like that's a possibility for EVERYONE. The capitalist system needs millions and millions of poverty wage earners to survive. So half the country dont deserve to reproduce because our corrupt economic system? That greed mentality is exactly why socialism is getting so popular in the usa.

David Socialism is getting popular because of a naive culture we’ve created. We don’t want to work or improve ourselves, we want handouts and free stuff. Attention spans are lowering and so are the testosterone levels on men. The government has us right we’re they need us, unable to function and with our mouths on their fishing net. Socialism takes power from everyone and puts it in the hands of the few, ironically what capitalism is blames for.

No it doesnt. Where is your proof of that concept? There are actual studies about this and they disagree with your factless assertion.

@@MrJaldal there’s also plenty of studies to prove what I said was true. And even if there wasn’t. minimum wage still negatively impacts more than just prices. Such as employment opportunities and small businesses.

@@timc6549 so by our logic when companies cut employees the price should go down right? Except they never do the prices only go up. 7.25 which is the current minimum wage doesn't even cover the cost of lunch, commute, and laundry. Its practically free labor.

@@tatertots0046 minimum wage isn’t supposed to be a livable wage. It should be a entry level position mostly for people to get their foot in the door and start picking up more skills for a better paying job eventually. And most company’s have to cut people from their work force because a lot of small businesses can’t afford to pay multiple people minimum wage. Which can attribute to why we have so much out sourcing in America which also makes it harder for unexperienced workers to find jobs. If you have a lack of experience and I have to pay you the minimum wage or I could get the same product from a worker that I can pay a lot less in a foreign country why would I pay more for someone here in America to get the same thing

@@tatertots0046 overall what I’m trying to say is minimum wage is bad. And raising it would be even worse for this country and hurt the poverty stricken and most Americans in general

i noticed that too..

He's out of touched as fuck

@@vojislavl6665 * out of touch

@@vojislavl6665 not an argument

He is wrong about pretty much everything every year.

He’s right

I went into this video having alot of doubts and they were all confirmed. All this is, is a rich dude complaining that he can't exploit low intelligence, desperate workers.

@@jdogggg9002 someone exploited your low intelligence, by making you believe the lie of minimum wage. Sweden and Norway don't have minimum wage and they are doing just fine

@@jeanlepage4264 Sweden doesn't exploit their workers, moron. All of their payments structures are negotiated by unions and arbiters. It's not possible to hire someone for $5 an hour there

This guy was acting like everyone should just live at a parents house so a company can keep profiting. That’s absurd.

I mean, when youve worked years and years without stop, maybe even 80 hours per week wouldnt you want at some point to "skate through life"? Also, thinking that many managers especially these at the top are just drinking booze and smoking cuban cigars is stupid. Some do it, and they are not of the most wealthy people too.

Underrated comment right here.

Valid point but there are other things to also consider. 1. Why not just pay the clipboard job for $5? Or find another desperate kid that's willing to undercut for $1/hr? The shop owner can also collude with other shops to collectively lower the price ceiling for labor roles and workers will have no other option but to settle for meager wage. 2. If it is possible for workers to earn only $0.01 / hr, it must also be possible for them to have access to food, shelter, transport, and education that's affordable with their earning 3. The people in higher positions who possess key knowledge may not share what they know (except for a few workers they choose to invest in) in order to protecting their profit margin and minimize competitors. If we remove minimum wage, we'll need to introduce other forms of intervention to prevent unethical practices

The problem with taking away minimum wage is you're giving trust to companies to not pay the absolute minimum they can pay someone. These same companies who barely pay their workers already to the point that they're all on food stamps while having a full time job. You take away minimum wage you're gonna see a shit load of homeless people in the streets because they cant afford rent. Here in Miami average rent is around 800-900 for a 1 bedroom 1 bathroom a house in a decent neighborhood is hard to find less than 250k+ with a mortgage of 1600 a month while making 3 dollars an hour. If you work 40 hours a week that's only 120, you literally could not afford to live in todays america on 480 a month.

The touchscreens were added as a way to help places to stay open 24/7. They were doing this in Europe, and it probably would have happened regardless of the minimum wage.

Flooby Badoop so how about only turning on those machines after midnight Instead of replacing daytime workers?

No he dosent.....YOUR just an IDIOT who is easily impressed by bullshit

cody williams explain please because I listen to this guy and he seems to make sense at what point is he wrong and explain why he is and what the alternative is

That's a great video to watch. It's also nice to see discussion as well that I don't think we see in current protests

He also said there shouldn't be an EPA or FDA so I'm not entirely in alignment with his views...

@@ericmanget4280 that's because you dont understand why the fda and EPA are really there. You'll get there, some dont....

BrewskaySA Please don't. His ideas are like communism. They sound great in theory, but utterly fail in practice....

BrewskaySA he is a bullshit artist

Schiff has books you could read. Also, read Mises, Hayak, Bastiat, ect.

What did you learn so far

Thomas Sowell's stuff is worth checking out as well. He also makes an airtight case against minimum wage - including how it's hurt black youth by making it harder for them to find a job and learn necessary skills.

At a bad wage though

@@JohnAC4 Better making something instead of making nothing. The minimum creates homelessness

@@freedomliberty83 you should read the ragged trousered philanthropists to see how employers can exploit desperate people, even if they are skilled

@@freedomliberty83 if you make $3 an hour you’ll still be homeless

I would agree, I use to do "low skill work" for $8 an hour and worked towards doing better, it taught me to be better with money and also encouraged me to make more, now I can live comfortably.

But those job need to get done

@LM 27 that statement needs put on a billboard. 👏

No one thinks making minimum wage is a 'good job'.

@@thunderlifestudios I'm not sure how you agree then. You're an example of the opposite of what he just said.

Depends on what they're doing. It's good you worked hard for it. But if they're doing a really shitty job that you would never want to do why shouldn't they be paid well for it.

Life’s not fair. You get what you’re worth in the end

@@bigkmoviesandgames well because there *choices* led to those really shitty jobs. I know there is the game of luck & chances but son, I think being in the USA is lucky enough to begin with.

@@pranshuanand4560 BS

@@Ian0nymousI which part?

^ When you have never even been in the same room as an ECON 101 textbook.

@@graham6132 if you take behavioral economics you’ll see that most consumers do not make rational decisions bc they often have imperfect information

YOU don’t make rational decisions, don’t let your life experiences cloud your view

@@joshlopez9056 actually it’s my economics degree “clouding my view” but sure okay

hey congrats

Damm minimum wage in the UK is £8.21 an hour which is around $11 an hour so it looks like im better off in the UK

@@warrengouldthorpe5091 yes but look around you at all the people who have come put of terrible comprehensive schools and crime ridden council estates. Do you think they can produce at more then £8.25 per hour? Your VAT is also double what you would pay in the US and income tax kicks in lower then in most US states.

@@Madyoke good point and tax and national insurance in the UK automatically comes out every month so at least we don't have to do taxes every year, but even after tax on a 40 hour week on minimum wage isn't really that much after paying everything out

@@warrengouldthorpe5091 in the states your taxes come out automatically come out if you're a worker and you submit your return each year. It makes you keep your receipts, its swift electronic and easy and usually results in a rebate rather then a bill. In the UK billions go unclaimed for the government to piss up against a wall! Rather then increasing the minimum wage the government can help a lot more by reducing the money taken out of your pocket. Eliminating VAT, tariffs on foreign goods, removing regulations that increase the cost of producing goods. Increasing the size and scope of government and artificially raising wages makes your life more expensive not less. Especially the things poor people spend the most of their money on I.e food,clothing, warmth and shelter.

R B Because some people think they understand economics and those who have made themselves successful are idiots, while others, like you and I, actually get it.

I didn't dislike it but he's not correct kzfaq.info/get/bejne/lbNjqben0pjHloE.html

@First Last it has to do with the fact that you and this video are arguing that there shouldn't be any minimum wage. Its a counter to that proposition. Ironically you just made that comment without watching video I sent

@First Last yes I did. Compared to this one it most certainly does. This shows that you haven't watched the videos And yes I know what it means and used it correctly to describe what you did.

@First Last LMAO where? The entire video is about increasing it to keep up with inflation! Unlike this video which says it should be abolished all together. And yeah that's exactly how you use it. And ironically you just described yourself you're moronic. And even that's an understatement

Governments create environment for business and environment for workers not to be exploited by business owners.

@@IvanSam1 Yeah they act like businesses could survive without the infrastructures they rely on to start.

supaman321123 “comedian”

I wish I understood the point you were making.

Yeah. Well, who the fuck are you? What's your credentials?

I thought they both were comedians.

Well to be fair the economic knowledge of the average person is a joke.

Big Grundo I totally agree. However, you bring up an interesting point though. Younger generations are turning to the internet for income. There are pros and cons to that but I have to tip my hat to them. Younger people are starting to stumble across free lance work without even realizing it. With such a narrow job market, younger people are finding new ways to create jobs.

Goebbels is dat you

It cost money to gain those skills. There’s also the fact that not everyone capable of doing certain things. I tried web design but found it too hard. To be frank, I’d love to get educated into a better job. But what job can I do?

If frederick douglas can become a millionaire and advisor to 5 presidents while starting out as a slave and teaching himself to read you can certainly get off your lazy ass and do somethin productive

@@dusk1234567890 Learn a trade. Welding pays very well. Any kind of metalworking does, so does construction. Im a soft. engineer and knew plenty of waterproofers who made double what I make. Granted they "work" 65 hour weeks but still man. Possibilities are endless, but they require self investment. Both in time, money AND connections. It is so goddamn important to network, nobody does it, but it's your safety net when you need something.

Reality

@@martin_wood common sense?

Not true. You know how much money those companies make? They most definitely did not let people go because of that. That’s just what they tell the little guys while they keep profiting billions.

School tuition skyrocketed when the gov made funds (loans) available

@@my-back-yard ya that was a big mistake

Ectoplasmic Entity you are an idiot. They have almost nothing to do with each other.

supply and demand is making California expensive. rich elites moving to California for decades. now only millionaires can afford to live their.

No it's socialist taxes sucking Everton sucking dry and zoning laws which prohibit developers from creating more apartment buildings to accommodate the growing population that drives rent up. That and our government bailing out business which should have failed.

​@@dab0331 Restrictive zoning laws only exist because the wealthy people who already own property in California support local politicians who advocate for restrictive zoning so that their property values can be maximized at the expense of keeping out those who don't already live there. That's patently anti-free market, as it's the rich taking advantage of local government to create artificial barriers to entry for the housing market.

It used to be. Then at some point Politicians decided "fuck the poor"

That would be like pouring gasoline on a fire

Though they seem similar, negative rates is something practical whereas UBI would be a total cluster-f

Exactly! And why the fuck do they have to pay for your healthcare now too? Because of regulations, the people are effectively shutting themselves out of power.

Lol implying that minimum wage workers don't provide more than their wage's value in work output. If that were true companies wouldn't hire anyone at all. The sheer fact that anyone has been employed at minimum wage is proof that they provide a greater value in work output than their wage. Otherwise the business would not profit.

@@jonsmustache7704 Exactly why we need free markets and education

@@jonsmustache7704 Exactly. Companies would not hire anyone at all. In the real world, they'll just hire fewer workers, seek to automate more, charge higher prices, lose sales as a result and finally lay off workers. Thought experiment: if $15 an hour can just be enforced by decree, why stop at $15? Let's make everybody well off by mandating $50. Screw that, make it $500. Problem solved.

Enema Twatson Look i don’t think minimum wage is perfect. But unregulated labour markets are neither fair nor free. The labourer does not enter into contracts voluntary because there is an ever-prominent threat of death by starvation should they not enter into said contract. This gives employers an upper hand in setting prices for labour lower than market equilibrium would have them in a truly free and voluntary market. The only way in which to make labour markets totally free and fair is to institute a universal basic income so that labourers can enter the labour market fully voluntarily.

But that requires work and some people don't want to put in work

By doing what? I work hard,have no convictions,completed high school but earn close to minimum wage. Why? Because my country has one of the highest immigration levels in the world and the well of people who will work for peanuts is endless...

Which country?

nz

Just because you were able to be successful doesnt mean the system is ok. That kind of reasoning can be used for anything, " oh well my daddy use to drink drive all the time and never got into an accident, all u gotta do is keep ur high beams on". come on man...

Personal accountability? What's that?

The problem with this is that most businesses in america is small business (roughly 98%), not large companies and small businesses want to pay people who are worth the money as much as they can. My father is one such small business owner, he runs a landscaping business, he says "good workers are hard to come by, so i pay the ones i find as much as i can."

The only reason someone would be desperate is if there isn't overall job growth in the economy.

@@krpcannon123 People become desperate when they can't pay their bills, it has nothing to do with the economy.

This. That's why unions are so important as well. It gives employees leverage against employers when negotiating.

With healthy competition you need no unions. Yet, you people dont want competition .... so there you go.

There isn’t some national monopoly on wages, but there are parts of the country where there is a local monopoly on wages and employment. This only becomes more common when you factor in people who can’t afford a car or can’t rely on public transportation. They essentially become stuck in a monopoly situation where there may be a better paying job across town, but to afford to travel across town, you need a car, so you’re forced to take a low paying job. Peter just pretends like everything is black and white and that the idea of a national market for labor makes sense, when it is many regional markets that make up national labor supply and these regional markets all have their own unique inefficiencies

@@reup2532 These are very rural areas, especially if you are in the West. Even in my poor ex-communist, small country there are busses to villages who are a few thousand people like once per day to the bigger cities or at least a city and to other villages too. Even if places like that exist, they are so small that people probably know each other all of them and are something like acquantances and an employer wouldnt want an acquantance to feel bad and DELIBARETELY give lower wages than he can.

Then it became selling point of the Left. It feels good

Nobody seems to understand this. They think money grows on fucking trees. If you could actually afford to start a business and make profit there would be more jobs. Sally's shoe store can't afford to pay a some kid 20$ an hour unless the shoes are $150 and then nobody can afford them anyway and the business goes under. Flawed concept

All sounds good in theory until you see it in practice. There are very well functioning democracies much better than ones functioning on the bs that this type of standard fare bs that's been spoonfed into the minds of Americans lol I sort of laugh at how Americans thnk that this narrative is some sort of genius thinking that has gotten them all these "riches". You clowns only got wealthy bexause you very been stealing from people for decades. First it was off the backs of slaves. Then it was through international satellite slave states which you brought through corrupting their govts to do your bidding etc. The entire history and back story if the United states and to this day the market system is corrupt. The stock markets this clown deals in and creates a mess in fails all the time. When it fails he goes to the govt to get bail outs for him and his buddies. Bail outs paid for by tax payers then for another decade he can talk a out how great it is to be "free' and escape the vices of minimum wages so all his corporate buddies can increase shareholser profits at the expense of average people. This guy along with all of you Kool aid drinking clowns have brought into a narrative that you hVe zero clue about. Just regurgitating some 10th grade economics bs which has been on rinse and repeat because it's been very successful for people like this guy who doesn't actually do any real work ! Ask these people what value they have actually provided society? Nothing. This hasn't provided single value to society other than buy and sell fake dollars on a stock exchange.

Oh I'm sorry let me take a $17 pay cut to do the same job and to live in a cardboard box

@@alcxemy With lower paying jobs everything would be cheaper because it could be done for cheaper. The high cost of housing is because the people building houses have to go through a lot of red tape to buy property to put those houses up. A lot of homeowners don't want more housing to be available, because of simple supply and demand. I've seen an entrepreneur in California try to put up an apartment and spent over 3 million just trying to get the permission to turn the laundromat he bought into an apartment complex, but he still couldn't do it.

@@ryuranzou The Price of things today is not soley based on the us. The world economy decides price of living. Gas, cost to get materials from other countries, Ect. You can see it with gas right now they are talking raising minimum wage everywhere because gas is so expensive to buy right now. Not a direct cause of U.S specific economy. With no minimum wage the poverty level would instantly rise because of greedy CEOs wanting more money. People would be forced to take low paying jobs, the economy would not immediately adjust to this. Everything would cost the same for much time to come and the rich would feed off of something like this happening.

An interesting argument. Though I would have to disagree. You are counting all the money going in when you have to make many more calculations to get profit. Depending on the location the owner is paying for the rent or land, if it is franchised they have to give some money back the the company add in the cost of ingredients and utilities that $4000 gets worn down quite a bit. I was once given some sage wisdom, if you want to be paid good money "be essential and hard to replace". No offence intended but as a cashier it is not how much money in transactions that passes by you that defines the amount you earn but the lack of you yourself being hard to replace combined with the relatively small effort and risk that operating a register all day entails. The owner may make a huge ton of money from the collective efforts of the staff of your facility, this is true. However if capitalism works as intended more jobs will be created when that money that is not pulled out of their taxes is put towards the creation of a new location and many more jobs. Having worked for minimum wage I can see where you are coming from. It is certainly not something you can easily live off of, especially in most cities.

@@jessinator666 @chaosavenger2 It should also be noted that the vast majority of restaurants (like panera bread) fail. The owners who put up all the money and risk, and time / stress, etc, lose all of that. Everyone wants to complain when that business does well and makes money, but i don't see anybody donating cash to the owners to keep their small business afloat when it's dying... especially in this covid time. small businesses are shutting down left and right, and people are still crying about minimum wage to be extracted from those businesses.

Jessinator dropped a huge truth bomb. That productivity does not far outstrip wages when you factor all the costs it takes to run that business. If the business you're working for fails after increasing wages and you lose your job what would be your answer? Find another job, right? Why would it not be the same solution if you felt you were being underpaid by the employer? Why force the employer to pay more rather than find an employer who pays more for the same job, keeping the market competitive?

Peter's problem is he doesn't want minimum-wage workers receiving profit sharing. If minimum wage earners received a fair share of profits based on what they helped create you guys would have to be paid around $100,000 a year. If we lived in a profit-sharing based economy he would be arguing *for* minimum wage because unskilled workers would be making too much.

@@jessinator666 the owners make nothing without entry level workers.

I'm looking forward to them wiping us out after reading the comments

*had

I work on the cutting edge of industrial automation. Not taking anyone’s job in my lifetime. Getting robots to move stuff within 0.25” of where it needs to go is pretty easy. Getting them to move 1000 pound 110ft long parts within 0.007” of where they need to go can only be done by people.

@Marco why should you if you can only sustain yourself?

@Marco Nope, wrong. Nature doesn't give us enough, if it would've, we should have never advanced in society and we should've stayed in the state mother nature brought us in. But it didn't, due to human curiosity. You got a wrong meaning about money. Money is just a medium that allows merchants and buyers to buy goods and services in an easier way. It's what liberates the markets. I think you're talking about lobbyism, in which case it's true that money is used by the rich to get themselves richer and making everyone poorer.

To be quite honest with you I work in a restaurant and can tell you first hand some servers can make 1000 a night on tips. They much prefer it to hourly wages as they are paid for their ability. No reason to rush food our if you are all getting the same money.

@@maxashby8160 Your anecdote is the exception, not the rule

@@veritasabsoluta4285 you cant claim to speak for an entire class of workers. If you were to ask a group of servers if they wanted tips or wages they should chooses where to work

@@maxashby8160 I'm not claiming anything, you are arguing against statistics

You know though, that if you do not make the tips enough for over 7.25 per hour the employer is forced to give you the difference?(in the US) Also, my friends have worked as waiters and many of them if not all hide some of their tips, so they are not taxed and bring more money than they have earned on the books (and that is in a country where waiters do not rely on tips, so not only they have minimum wage to live on and still get tips and hide some of their tips).

He addresses your concern about the opportunities that just aren't there. The opportunities aren't there because of the minimum wage. Sadly, most of the smaller opportunities produce revenue which is less than the minimum wage, making business owners and employers not hire as they will lose money. Almost every decision you make in life is some sort of investment and it's a person's job to try to make the most rational and smart investments for their intended goal in life.

If you can live and raise a family off of a minimum wage job, then what is incentivizing people to leave that job and pursue a higher skilled career? Nothing. Those jobs aren't freed up because all the older folks are doing them, hence why there seems to be less opportunity for younger folks, all the older people with kids are working those jobs thanks to the higher minimum wage. The point is that you should already be specialized and have a career path before you decide to start a family. So much of success is on the individual's choices, sure obviously environment plays a part, but by increasing the minimum wage we just keep putting band-aids on the problem. Partly I do blame government not just the individual, because what the hell, I don't blame all of them. If you can raise a family off a Walmart job thanks to minimum wage increase, why not just stay there? Now that this precedent has already taken root thanks to government stepping their foot in the labor market, abolishing minimum wage would have terrible consequences because people would immediately be spending more then their current paygrade. Perhaps a system that allows for people to keep their current wages, but any new employees would face the market's actual wage.

@@j.hateshisjob5137 wrong! Some people like me with 3 high education degrees eventually gave up looking for work. The market creates endless dead end jobs and when your job is dead because replaced by machines or other problems you cannot ask people to go back to school for 8 years to become specialized in a different field! Plus not everyone has to be a career driven person ! Some people would be happy to get 25 to 50 grand per year range for their entire life so long as that gives you dignity and the means to live. Back in the old days with 2000 dollars you could buy a house 🏡! You can’t even buy a car for that now!

@@marcoreviews Minimum wage laws make it possible for machines to replace workers, because you can't pay less, therefore, the machine is the cheaper option. Also, 3 high education degrees in what? What high education degrees you have are being eclipsed by machine development? That phenomenon is vastly lower paying, low skill jobs.

"What about those people who had amazing skills but then their job becomes irrelevant or replaced by machines" -- that's the way of life. The world owes you nothing.

Many actually do. But not about everything all the time, that’s true.

What schiff here is talkibg about is rational choice theory, which applies on the individual level. If you give a normal person a simply choice about money, they will most often make the rational choice, behavioral economics (which is what you're talking about) states that as a sample size gets larger, the tendency of irrational decisions to occur in an economy increases. Even in behavioral economics it still states that the individual tends to be rational

Women make rationale decisions...😂

@@NolanMc88_ True story! Richard Thaler won the Nobel Prize in Economics (2013) for that very explanation.

@@NolanMc88_ good point

Dawson Houser What do you do as a living?

And why didn't take a better job? Because no one else offered you? You should be glad that someone did. What if they doubled the minimum wage? Would that help you? To be unemployed?

Have you left the industry for somewhere that can provide more financially?

In Russia we sent people to Siberia for work.

@@generalkenobi4683 LOL.

You would have worked for £3.75 an hour? I don’t know wheee in the Uk you live but most places that would barely scratch you a living

@@FatRonaldo1 The presence of a minimum wage has contributed to that HCOL.

@@CastroEulis145 yes it has, but it’s far to easy for companies to exploit desperate people with no minimum wage. Although it was introduced by Blair, some form of minimum wage has been in Britain since the 1800’s

Go to Tahiti then you commie scumbag

@TheZoneRanger Good, so you can tell me all about it.

Yas

@khali edwards rich people arent footsoldiers 😂

@khali edwards Who do you think got drafted in the Vietnam War and Iraq War? Sure as hell weren't politicians or their kids. I'd say it's more about who you are and know that can pull strings. But then again Money always talks. All types of people are drafted even when there is people who enlist. But the majority of people who get drafted were lower and middle class, simply because they are more poor than rich people. That doesn't mean that rich kids and politicians don't get a pass when draft notices start getting handed out.

@khali edwards The disagreement is that you said "we" aren't drafting poor people. When that is exactly what happens poor people fight the rich and politicians wars. You think some trust fund kid is gonna get drafted? Fuck no, not on your best day they stay home and if they get drafted you can bet your ass they won't see combat. Obviously you didn't read my comment fully either as I said their is more lower and middle class than upper class so not sure why you felt the need to throw that in there.

@khali edwards There will be a draft when it is needed, hasn't been a large enough conflict to enforce the draft it's not that it's not done anymore its that it hasn't been needed.

True

Max Donald’s

New York City in 2018 and 2019 experienced its first back to back years of job losses in the full service restaurant industry in decades after sharply raising their minimum wage. And that was before the externality of Covid-19 put the screws to the industry.

@Joshua Halsted The modern issue is that most unskilled work has become elastic, meaning that it can become replaced by automation. Minimum wage works under the premise that work is inelastic, but in 50 years we can expect that a) most factories will be overseas in third world countries, and b) the factories that remain will be fully automated where even machines will be sweeping the floors.

minimum wage is like price fixing, it doesn't work. It's all based on supply and demand, if you apply minimum wage and increase the wage for low skilled workers the demand goes away for those workers