We Can’t Survive at $X/Hour
Nobody asked but …
If an $X per hour wage is the minimum wage, you are right. Most can’t survive at that level. You must move up or you will move down (into the gray labor market or the black labor market). As Thomas Sowell says, the real minimum wage is $0.
The official minimum wage has only two consequences, it is a political signal, and it is very costly to administer.
Surely we can find a more effective way to get people into jobs.
— Kilgore Forelle