My February 3, 2021 letter to President Joe Biden, Milton Friedman asserted, “There is absolutely no positive objective achieved by the minimum wage law,” and ”the people who are hurt most by higher minimums are the most poverty stricken.”
Ep. 4 – From Cradle to Grave [6/7]. Milton Friedman’s Free to Choose (1980)
February 3, 2021
President Biden c/o The White House
1600 Pennsylvania Avenue NW
Washington, DC 20500
Dear Mr. President,
Thank you for taking time to have your office try and get a pulse on what is going on out here in the country.
I read this article on January 15, 2021 about your announcement the previous night concerning your first proposal to Congress.
President-elect Joe Biden called Thursday night for a $1.9 trillion COVID-19 package that will include another round of relief checks for most Americans, a bailout for state and local governments, boosted unemployment payments, and a higher federal minimum wage.
Biden is also proposing $170 billion to assist in reopening schools and a $350 billion bailout of state and local governments. And on top of all that, Biden called for raising the national minimum wage to $15 an hour.
I wanted to let you know what I think about the minimum wage increase you have proposed for the whole country and I wanted to quote Milton Friedman who you are familiar with and you made it clear in July that you didn’t care for his views!Let me challenge you to take a closer look at what he had to say!
For a realistic view of what will happen at McDonald’s if the minimum wage is raised to $15, see the book: Ten Unavoidable Problems with a “Living” Minimum Wage from 100% Waste of Your Money to Millions Unemployed
Milton Friedman said, “There is absolutely no positive objective achieved by the minimum wage law,” and ”the people who are hurt most by higher minimums are the most poverty stricken.”
Your and Milton Friedman’s conclusions contradict each other’s conclusions.
I am sorry if you or others got the impression that I claimed your conclusion or “personal experience” (which has nothing to do with it; my original point) were self-contradictory.
Your statement “controlled samples have shown again and again and again that everyone benefits with an increased LIVING WAGE,” would make an excellent straw man to knock down if I were in the habit of doing so.
Obviously not “everyone” benefits since someone has to pay the higher wage.
The price of hamburgers will go up for the rich and poor alike. The unemployed poor, such as students, retirees and the disabled will have to pay more.
Yes and yes. I only agree with Milton Friedman about 2/3 of the time, and I guess you only agree with him 1/3 of the time or less by chance. But before voting for a minimum wage law that Milton Friedman claimed was worse than Jim Crow laws, I would be 100% sure Friedman was wrong.
Sadly, most of these politicians, such as Bill Clinton mentioned in show, know that the minimum wage laws will not help the poor. But politicians also know that the poor and liberals will vote for them if they raise the minimum wage
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Thank you so much for your time. I know how valuable it is. I also appreciate the fine family that you have and your commitment as a father and a husband.
Sincerely,
Everette Hatcher III, 13900 Cottontail Lane, Alexander, AR 72002, ph 501-920-5733
