The Libertarian Party of Ohio opposes both minimum wage bills (HB 34 & SB 90) introduced to the 133rd General Assembly.
Raising the minimum will not bring anyone out of poverty, but it will make more poor people poorer. Government interference in the free market cannot alter the value of the work performed by a given employee. Far from a raise for the employee, if the value of their work is not greater than $15, a pink slip is sure to come.
That “raise” will not harm the billionaire CEO either; after the pink slip, the company will raise prices, reorganize, and/or utilize technology to complete the necessary work.
In addition to the terminated employee, the small business owner will be significantly damaged. Increasing the minimum wage from $9 per hour to $15 works out to a yearly tax of $12,480 on employers. Ironically, this tax hike may help the millionaires by hurting the middle class.
The LPO supports action that will actually help poor people make (and keep) more money. Smaller taxes and smarter regulations will allow businesses to continue doing what they do best—offering goods and services at prices that customers are actually willing to pay.