Swiss to vote on $25/hr minimum wage « Hot Air: "This report focuses on the story of one small business owner who has already had to let her last full time employee go and won’t be able to afford to replace them at the new rate. That’s a sad story, and one which is repeated everywhere the government arrives “to help” in such matters. But the raw numbers are probably a little more startling than they need to be. Switzerland already has one of the highest minimum wage rates in the world, as well as one of the highest costs of living. (Are you seeing a pattern here?)
In a place where all the specials at McDonald’s are already featured on the Ten Dollar Value Menu the effect of a small bump at the bottom won’t be as pronounced, but you can’t drive up costs without making up for them elsewhere or closing up shop. Unfortunately, it’s always so very easy for politicians to vote Yes on feel-good items like this that it’s hard to stem the tide."
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