In the past couple of years, a number of politicians have pushed hard for a minimum wage increase. Notable supporters include Elizabeth Warren and Bernie Sanders. Just this week, Connecticut agreed to incrementally up its minimum to $15 an hour in the next four years. Advocates of the idea claim that it will improve the quality of life for many, especially the working poor. However, they miss the fact (or don’t care) that their plan would functionally cut wages for millions of working-class Americans.
By Mason Mohon | @mohonofficial
When looking at the empirical evidence for economic systems, socialism/communism seems to be in dead last. Time and time again, socialist governments have met economic demise. The Soviet Union collapsed after starving massive amounts of people. Communist regimes throughout history have been notorious for massacring enemies of the socialist order. In the present, the Venezuelan state has hyperinflated the currency and is causing widespread economic degradation in their country. North Korea is held as the earth’s boogeyman of unfreedom.