The famous Taoist saying has become a lazy colloquialism:

“Those who know don’t say – those who say don’t know.”

It’s an accurate one, however, when it comes to the minimum wage argument.

Politicians (many of whom have never run a business!) make the case that raising minimum wages (at the expense of those ‘greedy’ capitalists!) is a win-win.

Really?

If true then the management team at Wendy’s is a bunch of morons. People who actually run a business, make budgets, etc. – what do they know?!

Thankfully Congress which has seen fit to push our national debt to $18+ trillion with their ‘smart’ economic policies is on the case. Geez! Have any of its members sat through an Econ 101 course on supply, demand, market pricing and distortions created by externalities?