I'm encompassing all of the market place when I say that
What is wrong with Thomas Sowell's perspective on the minimum wage?
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I'm encompassing all of the market place when I say that
The logical thing from the TS assessment that I say myself is who's going to be able to buy this shyt in the long run? It may completely halt the economy from growing. That is what truly keeps wages down. No longer have to compete for labor via offering higher wages since there's a constant surplus. Low wages prevent people from building capital and credit to start their own businesses. It's sinister and you don't even know it. Sad thing is these people hate having to pay minimum wage. McDonald's is notorious for fighting the wages.
Paraphrasing a Chris Rock about minimum wage 'You know what minimum wage? Minimum wage is I would pay you less if I could but it's against the law.'
That's it in a nutshell.
Paraphrasing a Chris Rock about minimum wage 'You know what minimum wage? Minimum wage is I would pay you less if I could but it's against the law.'
That's it in a nutshell.
You can't keep increasing it without accepting on a policy level what it is meant to accomplish.
Not gonna argue this but from a simplified view people working full time at 30k(probably closer to 26k) a year isn't gonna destroy the economy. But if these companies have to take more out to cover those wages we know they'll be hesitant. Thus we have studies that will be put out that it just can't be done.
this is where I am on it.
MW jobs are there for a reason. We may not like it, but in an economy that could use a little more social welfare, which I admit however, al of this ignores the fact that a lot of this is a result of the shareholder economy we live in. Quarterly earnings and investors have as much to do with these wages as anyone else. And additionally, the laws of economics still are in play when we talk about how wages reflect how the "market" views your contributions to the economy.
Why do you all always focus on people making 30K? Those people barely exist in society nor do they represent the middle.
Because they're about 40 percent of the minimum wage work force.
Can lead a horse to water but you can't force it to drink
and 2% of the workforce.
You can't have it both ways.
Bro, i'm all for higher wages. I always am...but focusing on what is supposed to be the minimum has never staked out to me what people show use to measure how successful they are.
Can't have what both ways? This is the clear divide between neoliberalism and a social democracy. Do we shun the lowest because they're a small percentage or do we bring them and people just above the min wage to a more liveable standard? I get the arguments of welfare, ripple effects, and cost of living increasing but none of the studies really show that it would crash the economy and doom us all.
What is a livable standard?!
Bro, the poorest people in the USA live like GODS among the rest of the world. DO you not realize this?
Yeah we're the richest country ever with a huge gap in income. But is your definition of living compared to a third world country? Because you and I both know the poor in this country aren't living high on the hog like that. Really that's a Republican talking point if anything.
The low end here, is higher than everywhere else
This isn't how you stake out a claim or defend your position.