Posted on 08/03/2017 8:23:24 AM PDT by davikkm
Seattle, Washington, with its highest-in-the-nation minimum wage, has discovered how high is too high.
In January 2016, Seattle’s minimum wage jumped to $13 an hour from $11 for large companies. New research released in late June by a team of economists at the University of Washington points to the wage hike having come at a significant cost to low wage employees: The increase led to steep declines in employment for low-wage workers and a drop in hours for those who kept their jobs. The slashing of jobs and hours resulted in, on average, $125 less per month because of the higher wage floor.
The socialist city of Seattle is experimenting in economics and are ultimately hurting the very people they are intending to help. Some conservative states have stepped in to stop the minimum wage hike expansions, with some moving to block cities from increasing their local minimums. But most cities on the West Coast are moving full speed ahead in increasing the minimum wage thinking there are nothing but benefits to come from doing so.
(Excerpt) Read more at investmentwatchblog.com ...
But...but...but...it works so well in my socialist theory class at school.
This is just a showing of what the ‘oldsters’ meant when they explained why a true Democracy can’t last much more than a couple of hundred years because it takes about that long to get all the have nots to vote against the haves in the name of ‘fairness’.
REMEMBER
A TRUE Democracy is when 2 wolves and a chicken vote for what they are having for dinner.
This is just a showing of what the ‘oldsters’ meant when they explained why a true Democracy can’t last much more than a couple of hundred years because it takes about that long to get all the have nots to vote against the haves in the name of ‘fairness’.
REMEMBER
A TRUE Democracy is when 2 wolves and a chicken vote for what they are having for dinner.
Bah! Real life results are nothing.
We will continue our experiments until we get the “correct” results we like, comrades.
All Glory to the Progressive Human Theory. Capiche?
Interesting experiment, but it only becomes a valuable one if people learn from it instead of trying to spin it as a success.
Not an exercise in democracy - but socialism
Democracy is the mob.
There is a limit to intelligence but no limit to stupidity..Just look at most if not all municipal governments.
But... but... but... it worked so well in Venezuela too. It’s a mystery pfflier...
So if there was no price inflation and demand stayed the same and they are gretting more production out of less people at a higher wage. Not seeing the issue here.
“There is a limit to intelligence but no limit to stupidity..Just look at most if not all municipal governments”
The city of Seattle itself is an experiment in democracy gone wrong.
as opposed to this:
“Hiking the minimum wage, Pugh explained, would cause employers to flee the city and result in a loss of job opportunities available to Baltimoreans. Given the “economic impact” of the policy, she asserted it was “not appropriate at this time” to implement it”
I wonder if she’ll get re-elected.
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