Insight - Jan. 13th, 2021
Insight
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25m
Today on Insight, John and Josh Rosenstern discuss the Biden Administration’s plans to raise the minimum wage and disperse more stimulus relief in the future. Brother John warns that while this sounds good to those struggling financially through this time of COVID, the more money we throw at the economy, will in the end, devalue the dollar. Obviously, more money helps in the short term, but eventually prices will increase. Small businesses will be hurt the most while big businesses will grow; with automation becoming the way to avoid positions of labor and paying higher minimum wages. With less jobs available, more people will be out of work and that increases dependency on the government. Brother John says capitalism creates wealth, if we work hard for our wages, we are enticed to want to earn more. Being given something, for nothing, only creates an atmosphere of entitlement and apathy.
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