A Quote by Bernie Sanders
The minimum wage in Denmark is about twice that of the United States, and people who are totally out of the labor market or unable to care for themselves have a basic income guarantee of about $100 per day.
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Denmark is a small, homogenous nation of about 5.5 million people. The United States is a melting pot of more than 315 million people. No question about it, Denmark and the United States are very different countries.
Here in the United States we're now consuming about three gallons of petroleum per person per day. That's twenty pounds of oil per person per day. We only consume about four pounds of oxygen per person per day. We're consuming five times more oil each day, here in the United States than we are oxygen. We've become the oil tribe.
Obama's gonna play Santa Claus with the minimum wage. He's got no successes to brag about. He cannot talk about a robust job market. In fact, the very fact he's talking about the minimum wage is evidence there is no robust job market.
The problem with one single minimum wage is that you don't allow for younger people, who are less skilled and maybe more easily pushed out of the job market, or that the minimum wage should vary for different regions.
The national minimum wage has not been increased in 9 years. By year's end, 21 States across America will have a minimum wage exceeding the Federal minimum wage.
Regardless of what the minimum wage is, you really have the market wage. And if we're not taking care of our people, then we're going to lose good talent, at every level.
I do not support raising the minimum wage, and the reason is as follows. When the minimum wage is raised, workers are priced out of the market. That is the economic reality that seems, at least so far, to be missing from this discussion.
The conservative goal has been the Third Worldization of the United States: an increasingly underemployed, lower-wage work-force; a small but growing moneyed class that pays almost no taxes; the privatization or elimination of human services; the elimination of public education for low-income people; the easing of restrictions against child labor; the exporting of industries and jobs to low-wage, free-trade countries; the breaking of labor unions; and the elimination of occupational safety and environmental controls and regulations.
The United States remains the only major country on earth that doesn't guarantee health care to all of our people. And yet we are spending almost twice as much per capita. We have a massively dysfunctional health care system. And I do believe in a Medicare for all single-payer system, whether a small state like Vermont can lead the nation, which I certainly hope we will, or whether it's California or some other state.
Especially for the young and the lowest-skilled, minimum wage becomes a toll that prevents many from entering the work force and gaining the skills that can make a low income or middle class worker a high income worker. This is so obvious that one wonders why liberals keep championing the minimum wage cause.
Bernie Sanders did not wake up last night with this great idea that we should guarantee health care to all people as a right. Actually, it exists in every other major country on earth. You don't know that, because the media has forgotten to tell you that. But it does exist. In Denmark, because of union negotiations, the minimum wage is about $20 an hour. In Germany, you go to college tuition-free. In Finland, they actually pay you to go to college. Now, you don't know that in America because CBS forgot to tell you. But that is the reality.
In my first start-up, I had an initial advertising budget of $5 per day total. That would buy us 100 clicks per day. At $5 per day, marketing people scoffed and said that is too small to matter. But if you think about it, to an engineer, 100 real humans everyday giving your product a try means you can really start improving.
When the press writes scare stories about the global labor supply draining jobs from rich to poor places, the story is usually presented as a "race to the bottom" simply in terms of wages. Capitalism supposedly looks for labor wherever labor is cheapest. This story is half wrong. A kind of cultural selection is also at work, so that jobs leave high-wage countries like the United States and Germany, but migrate to low-wage economies with skilled, sometimes overqualified workers.
A minimum-wage law, a law that prevents employers and employees from entering into mutually beneficial economic exchanges, is as far from a free market or free enterprise as one can get. That's why it causes so much damage and destruction, especially to black teenagers and others whose labor, for one reason or another, is valued by employers at less than the government-established minimum wage.
Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.
I know firsthand that many employers who comply with other labor standards still hire the undocumented. Many businesses pay the minimum wage and have barely tolerable working conditions because there are sufficient undocumented workers willing to accept those terms. If we care about low-income workers in this country, we need to create pressure to improve their economic condition by reducing the supply of unauthorized workers.
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