Don’t trust liberals’ findings on a higher minimum wage
The Economic Policy Insti- tute’s estimate of jobs created by the increase in the Ohio minimum wage is ludicrous. It claims that the minimum wage hike will create 300 jobs in Ohio.
To put this in perspective, the Census Bureau estimates that about 5.3 million Ohioans are employed in the civilian workforce. It acknowledges that the margin of error of this measurement is about 20,000. Yet the EPI is claiming that its calculations can predict a change that is less than 2 percent of the margin of error of measurement. Ridiculous.
This is the same outfit that predicted that the president’s failed economic stimulus package would be a boon for the country. In fact, undeterred by evidence visible to all but blinkered partisans, the EPI is still touting Obamacare as a swell idea. To paraphrase the president, if you like the EPI’s track record for prediction, you can keep it.
The Vindicator describes the EPI as nonpartisan. It is certainly not nonpolitical. It is a left-wing think tank, which supports a steady expansion of government power, and a consequent steady shrinking of individual liberty and opportunity.
Government has the power to dictate the price of labor, but it cannot dictate the value of labor. When prices go up, people buy less. This is true of labor as well as products.
Increasing the minimum wage reduces the benefit of hiring entry-level workers. It deprives those workers of that essential first step in establishing a track record of being valuable to employers. Claims to the contrary, presented as if they were true by The Vindicator, should be recognized as simply more falsehoods from the central planners who claim to know what’s best for us. Don’t trust them.
Eric Chevlen, Liberty