I have to admit this is true. Never thought of it this way.

Your original claim that it only impacts the top .1%.

Why not raise the minimum wage to $100 and then everyone will be rich?

Think about every instinctual reaction and argument you have against that policy, and apply the principal to any minimum wage increase. It’s just bad emotional public policy.

Raising the minimum wage is the best way to decrease the number of minimum wage jobs and increase the costs for the people who patronize those businesses, i.e. the people who work(ed) there.

If the govt really wants to help, they should decrease the payroll taxes on the employer and employee so that hiring increases and wages rise.

Why not $1,250? Then the rest of the people could be 10k a day just like me

Exactly. A study I read a long time ago pointed out that most of the people who earn minimum wage are teenagers who live with their parents anyways.

I'm not a conservative and I agree with the intention behind wanting to raise the minimum wage. But I'm more concerned with reality than ideology. Will raising the minimum wage really result in a net gain for most of the people country? Highly doubtful. It's a very simple "solution" for a complicated problem.

Try reading some economic papers on the subject instead of lsitening to screeching purple haired 200lb women.

No economist believes minimum wage laws have a positive effect at all.

Why doesn't everyone earn minimum wage? Why do employers pay above it?

define living wage and why wage should not be determined by market forces. Waiting on your economic paper.

Funny. Government creates a problem, then blames other people, then introduces more government to "solve the problem".

ITT:

>identity politics everywhere
>economists nowhere

Yep.

However there is one upside (that I can think of) to increasing minimum wage, which is it could create upward pressure on wages in general. If the minimum wage is $15, for example, I could see a lot of factory workers quitting their jobs to go rip tickets at a movie theater because why not? They're earning the same they were before but their job is much, much easier. This could force factories to increase their wages to retain employees. But of course as a company's costs rise, so do consumer prices.

One of the many downsides to a high minimum wage, though, is it creates an entirely new dependent class. An entire class of people dependent on minimum wage (there isn't one in the USA as of now). I can see a high minimum wage encouraging high school drop out rates as well.

with (even more) price inflation in all sectors, it's just a stupid move in general.

i've hired at least 50 people and the bottom line is that low wages attract chitty employees. a guy sweeping the floor can only fukk up so much, so you don't care. as the position requires ever more skill, you pay more because otherwise you get the dregs of society whose potential tops out rapidly and you have to waste resources constantly hiring.

when we hire someone who surprises us with how good they are, we start to think of ways to pay them more right off the bat because we want to retain them for as long as possible.

a free market (which we definitely do not have) takes care of everything. if you post a job at 1 dollar an hour, nobody applies. you have to keep increasing it until people show up but you realize that the lower the amount, the more they suck. there are some really fukken stupid people out there who have no business even being alive srs.

business owners aren't fukken idiots. they are competing with other employers in the area to get employees, so the wages are naturally bid upward. if everyone is paying 10/hr for a particular position, but i pay 11, i get the pick of the litter. if i stubbornly leave my pay low, i suffer and the efficiency of the business drops by an amount greater than the wage difference.

A toilet cleaner’s value is worth what its worth regardless of the monetary figure you put on it.