Minimum Wage Increase Three Months In:

Ontario Canada introduced a wage increase at the first of the year moving from $11.25 per hour to $14.00 per hour. Often news media has highlighted on how people will lose jobs and businesses will fail as a result. Here are two videos which describe why these predictions are not true and how the reverse might actually happen. I have no idea why the media would propagate this information. Is it because businesses pay for advertising (workers do not) or because fear mongering sells. Who benefits from having a minimum wage hike? As comment in the video ... giving more money to the rich means that money leaves the local economy (they buy bigger and better, go on vacations, they invest). For poorer people they buy locally (better food, better healthcare, better accommodations). The number of times that money revolves in a local community is called its Velocity. Increasing velocity is beneficial to the citizens of a community. Minimum wage increases the Velocity of Money...