Posted on 01/10/2018 10:29:28 AM PST by Kaslin
Isn't that the intention? Remember, the left needs a permanent and ever-expanding underclass, dependent on them, for their political success.
Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.
Can I go back and sue the restaurant I worked at when I was 14 as a busboy? I only make 75 cents an hour. With interest imagine the pile I’d be sitting on. Course that was about 60 yrs ago.
It’s worse than all that.
Most low income workers (excepting, perhaps students still living at home)receive a variety of government subsidies and other transfers that are geared to income. There’s some clawback of the subsidy, for each additional dollar earned. Often, all these clawbacks (including taxes) add up to over 100%.
For instance, the iconic “single mother” — who the minimum-wage increases are supposed to help — may find that her total income (earned and unearned combined) is reduced, when her wages go up.
For example, a single parent earning minimum wage might be living in rent-geared-to-income housing. For every additional dollar she earns, her rent goes up by 30 cents. Same thing for day-care subsidies, subsidies for bus passes, food stamps, etc. etc. Put all these clawbacks together, along with income taxes, and her marginal “tax” rate may be over 100%
The minimum wage defines something which a dollar is not worth.You are correct.
Well put.
Re: “Those two harms are not exclusive of each other.”
If there was a massive labor shortage, wages would skyrocket, businesses would be much better managed, and labor saving capital investment would increase.
Instead, thousands of new businesses are created every year in the USA predicated only on the fact that wages are stagnant or falling.
Personally, I support a $15 per hour minimum wage, because it absolutely destroys the rationale for massive immigration.
Re: Mexico
Thanks for the post.
That’s interesting information, and not common knowledge.
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