A minimum wage is a government-mandated wage control that takes negotiating power away from workers and employers. There is a rare near consensus among economists that binding price controls distort economic activity, but politics often gets in the way of seeing the fallacy of a wage control. Setting a minimum wage floor above a market wage results in unemployment, especially for low-skilled workers. It also slows future job creation and pushes unemployed workers who would take a wage at less than a minimum wage into long periods of unemployment and dependency on family or taxpayers.
Affordability is the Problem. Less Government is the Solution.
Affordability is the number one issue in Texas, and it isn’t even close. Numerous polls, released both before and after Election Day, show the Texas electorate alarmed with the cost of gas, groceries, and rent—as well as everything else. One poll in particular, conducted by the University of Texas and the Texas Politics Project, illustrates...