At the moment, many are playing Jenga with a post-pandemic economy. Unions that backed Democrats want regulation that makes it much tougher to have independent contractors, essentially knocking labor competition out of the way. Corporations want more latitude in using independent contractors because they save a lot of money in benefits and payroll taxes as well as regulatory compliance. But the minimum wage has its own problems, especially now. Pointing to Australia’s $19.84 an hour minimum wage, with 6.6% unemployment, as Bernie Sanders recently tweeted, and then note that the U.S. has unemployment of 6.7% and a minimum wage of $7.25, is easy.

Source: Forbes January 25, 2021 20:48 UTC