Washington Examiner: When CEOs don’t stand up for free markets

Washington Examiner: When CEOs don’t stand up for free markets

It’s one thing for business leaders to sit out policy debates, but it’s quite another for them to argue for policies that will harm long-term shareholder interests.

Yet that’s what we’re witnessing today with the likes of Amazon’s Jeff Bezos supporting raising the corporate tax rate and a federal $15 minimum wage. The minimum wage hike advocacy is pure corporate cronyism. The hike won’t affect Amazon, which already pays a minimum wage of $15 per hour. Rather, it will impose new costs on Amazon’s competitors while harming the job prospects of the youngest, least-experienced, and least-skilled workers.

To observe what happens when CEOs lobby for corporate welfare, we need only examine New Zealand pre-1984.

Read more at the Washington Examiner here.

Written by: Nicholas Kerr, LSPI Adjunct Scholar