In less than an hour, Dan Joseph with MRC-TV was able to garner 21 signatures from students for his pretend petition to raise the minimum wage to $50 an hour. A few refused, but 21 in less than an hour is pretty extraordinary.
These were students on the campus of George Mason University, a school known for its prestigious economics program. You’d think that an economics major would see the problem with having the government mandate that businesses pay their employees a minimum of $50 an hour. Can you imagine a McDonald’s employee getting paid $50 an hour to flip burgers? I mean, I suppose if McDonald’s wanted to do that, they could, but I’d think that even they would have to find ways to cut their other costs. They’d have to fire a bunch of people and scale way down; maybe shut down a number of their restaurants.
A normal small business, of course, would have no way to pay all its employees that much per hour. If a law were enacted that required every business to pay its employees $50 an hour, small businesses would be forced to close down, which would defeat the intended purpose of having a minimum wage in the first place. Businesses would close, and people would lose their jobs and lose their income.
I guess these students just aren’t thinking things through. Or, maybe they’re just not thinking at all:
It’s good that several students saw through it. But as for the others, I guess they’d rather have no job and get paid nothing than face the prospect of getting paid $8 an hour.