F*#K MINIMUM WAGE
I'm gonna end this discussion for good. Income Inequality, if too high, is a problem. Then how do you solve it?
*You have two choices - A and B. Let's compare A and B.
Choice A has been tried by many many countries for decades. Yet none of these countries have ever solved the income inequality issue and many suffer from relatively low purchasing power when compared to the actual GDP. Income equality is actually pretty bad and Big Businesses control everything including politics.
Choice B has been tried by a couple of countries and has been in place for decades. These countries have the highest income equality and their people are the happiest in the world. Small business communities thrive and their purchasing power is well above their real GDPs.
Can you guess what choices A and B are?
Here's the answer. A = Minimum Wage & B = Direct Redistribution of Income through universal basic services or negative income tax.
Seriously, Left's favorite Nordics don't have a minimum wage. They have a direct redistribution of income scheme through universal basic services and what is essentially a negative income tax for low productivity jobs. Sweden, Denmark, Iceland, and Norway all don't have a minimum wage.
Add Free-market heaven Singapore to the mix and these 5 countries have one of the lowest income inequality in the developed world with very high purchasing powers.
Do you know what these 5 countries have in common?
1) No minimum wage
2) Some sort of Negative Income Tax / UBI Schemes.
3) Mostly free markets
4) Low Corporate tax rates
So say NO TO MINIMUM WAGE and SAY YES TO NEGATIVE INCOME TAX/UBI/UNIVERSAL BASIC SERVICES IN EDUCATION & HEALTHCARE