Rep. Barbara Lee (D-CA) is making some major waves as she continues her campaign for Senator Diane Feinstein’s U.S. Senate seat. During a debate for the seat. she attempted to defend her position of minimum wage being increased to $50 an hour. Even pausing to note that this would be “seven times the current national minimum wage of $7.25 an hour,” she is firmly backing the idea.
“That means that you have to make sure that your employees are taken care of and have a living wage in the Bay Area. I believe it was the United Way [that] came out with a report that — very recently — [said] $127,000 for a family of four is just barely enough to get by…Of course, we have national minimum wages that we need to raise to a living wage — you’re talking about $20, $25 — fine, but I have got to be focused on what California needs and what the affordability factor is when we calculate this wage.”
As Fox 40 noted, an increase like this would mean people would be earning $104,000 a year.
This kind of increase is criminal and serves to do nothing but devalue the American dollar. As basic economics has shown us, this only shrinks the buying power of American money, and makes things harder all the way around. Sen. Ted Cruz (R-TX) and Turning Point USA founder Charlie Kirk remarked that this figure was not only beyond reasonable, but it also might as well be $100, $500, or even $1,000. The end result ends up being the same, total and utter disaster for the economy and American dollar. Some just make the disaster happen a little fast than others.
