Of Soda Taxes, Minimum Wages, and the Laws of Supply and Demand: New at Reason

When did the U.S. repeal the laws of supply and demand?

A. Barton Hinkle asks that question in his latest column:

Soda taxes have become a chic cause in progressive enclaves, from Berkeley and San Francisco to Philadelphia and New York.

But if you want to make liberal heads in those same enclaves explode, dare to suggest that raising the minimum wage might reduce employment.

Thanks to legislation their governors signed Monday, California and New York are hiking their minimums to $15, the target hourly rate of a national campaign by labor activists. Earlier this year The Times encouraged Hillary Clinton to join Bernie Sanders in demanding a $15 minimum for the entire country. “Mrs. Clinton has argued that $15 might be too high for employers in low-wage states, causing them to lay off workers or make fewer hires,” the paper noted, but then argued: “There is no proof for or against that position.”

Sure there isn’t—not if you don’t remember the argument for soda taxes, anyway.

View this article.


This post was originally published on this site
Comments are closed.