“Living Wage” — Who Actually Benefits?

I have pointed out that the so-called “living wage” ordinance will actually hurt the poor. That raises a question: who will actually benefit from this wage floor? The answer: labor unions. They enjoy the spoils of reduced competition.
Here is a great summary of the logic by John Stossel in context of Davis-Bacon. And New Mexico exacerbates the situation with its “little Davis-Bacon.”
And now Albuquerque may increase the spoils of these selfish scoundrels with its “living wage” proposal. The voters have the opportunity to say “NO” on this October 4. And they will have future opportunity to say “NO” to the state’s union-legislature monopoly.

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