The people of Switzerland used to have better economic sense. Not anymore. More than 120,000 have signed a petition demanding a $2800 monthly minimum wage. No matter where they work or what kind of work they do, they would be paid $2800.
Such a minimum wage demand will raise the salary demands of other workers. If some guy or gal gets $2800 a month for flipping hamburgers, a person in a more skilled job will petition for a higher salary to keep the wage disparity equal. That’s why unions are for the minimum wage. When the minimum wage goes up, they push for additional union wages and benefits.
In the end, economic equilibrium will take over. Wages and prices will rice and the new $2800 minimum monthly wage won’t be worth anymore.
To show how insane these socialists are, consider these comments:
“It could be one of the landmark historical moments, like the abolition of slavery, or the civil rights movement – of course, those who don’t want it will find excuses, but those who do want it will find solutions,” Enno Schmidt, founder of the Basic Income Initiative, told RT.
No one is forced to work at a low paying job. Some people aren’t worth hiring at a certain wage. They may be unskilled, lazy, and irresponsible. Their skill level may not merit a higher wage.
Also, what do these socialist nincompoops think will happen if employers are forced to hire people at a higher wage? The less skilled worker will most likely lose his job to more skilled workers. If an employer has to pay a certain wage, then he’s most likely going to be more selective in who he hires.
The proposal will be put to a vote. Since there are more employees than employers, there’s a good chance it will pass. If it does, it will have a serious of disastrous economic consequences:
“One of Switzerland’s biggest CEOs has stated that if the measure passes, he would seriously contemplate moving his company out of the country. ‘I can’t believe that Switzerland would cause such great harm to its economy,’ Glencore CEO Ivan Glasenberg told the Swiss Broadcasting Corporation.”
Money is a coward. It always seeks out the safest places to survive. Those places are becoming fewer every day.