Home Columbus Donald Trump’s Excellent Economic Idea: Abolish The Federal Minimum Wage

So here’s an economic idea from Donald Trump that we (and I) can fully get behind: It’s time to abolish the federal minimum wage. It’s absolutely time. As the New York Times had it right back in 1987, the correct federal minimum wage is $0. While that’s true and correct, it’s even more important these days because there’s that movement to raise the minimum wage to $15, an amount that would be economically catastrophic for certain areas of the country. Just way, way too high. Thus let us at least do away with the idea of one, national minimum wage and leave it to localities to do as they wish. Further, in that very competition brought about by a patchwork of minimum wages we’ll be able to see the true effects of it. I stoutly maintain those effects are bad and will be worse the higher that minimum wage goes; others differ. So be it, but let’s actually do the experiment and work it out, once and for all.

Here’s how one newspaper is reporting this:

Providing fresh evidence he is making up his policy priorities as he goes along, the Republican presidential candidate contradicted previous statements during an interview with NBC.

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“I don’t know how you live on $7.25 an hour,” he said, adding that he would support ‘an increase of some magnitude’ in minimum wage levels, even if he’d rather leave the decision to individual states.

He’s rather more emphatic about it than that:

The presumptive Republican nominee for president repeatedly said he would support a higher minimum wage, a reversal from his position when he had conservative opponents. But he insisted on Sunday that states should decide such wages.

“I like the idea of ‘let the states decide,’” Trump told NBC’s Meet the Press. “But I think people should get more. I think they’re out there. They’re working. It is a very low number.”

Asked “should the federal government set a floor” – a national minimum wage – Trump replied: “No, I’d rather have the states go out and do what they have to do.

“And the states compete with each other, not only other countries, but they compete with each other.”

Now, I am more extreme than this, that is true. I believe there should be no minimum wage at all. As did the New York Times back in the day. As they conclude:

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