The myth is that businesses will flee the country if they aren't coddled. We can raise taxes, strengthen regulations, support unions and all those other "socialist" activities that free-market activists swear will drive businesses away without hurting our economy. Both history and current events demonstrate that companies that do this will be in the extreme minority and will be more than offset by the benefits from such policies. Economies are driven by both supply and demand and right now demand is severely stifled. McDonalds isn't going to pick up their ball and take it home because we won't play by its rules. They'll adapt just like the twenty-two other times the allegedly economy-killing minimum wage was raised.
The myth is that businesses will flee the country if they aren't coddled. We can raise taxes, strengthen regulations, support unions and all those other "socialist" activities that free-market activists swear will drive businesses away without hurting our economy. Both history and current events demonstrate that companies that do this will be in the extreme minority and will be more than offset by the benefits from such policies. Economies are driven by both supply and demand and right now demand is severely stifled. McDonalds isn't going to pick up their ball and take it home because we won't play by its rules. They'll adapt just like the twenty-two other times the allegedly economy-killing minimum wage was raised.