Unintended consequences
Cry Wolf Quotes
The problem is raising the minimum wage actually hurts, not helps, low-income workers. Minimum wage laws make it illegal to have a job that pays below the government mandated limit. If that wage is more than a job provider will pay for a certain job, then no worker can get—or keep—that job.
If the Coast Guard implements a regulation requiring the certificates, but if there are no insurers willing to back them, then there is the possibility that all tankers would be banned from US waters.
By forcing employers to pay higher wages for entry-level jobs, Boston's City Council is also encouraging them to only hire applicants with the skill levels needed to match those wages. No amount of political grandstanding is going to repeal that economic law.
Minimum wage increases that even approach an average livable wage would result in significantly fewer jobs for low-wage workers. A substantial increase in the relative cost of labor will result in a reduction in the amount of labor used…
