Every min. wage raise hurts everyone. It devalues the dollar.
They hurt retirees on a fixed income harder than anyone else.
....and the illiterate, and uneducated, and low or no marketable skills, dropouts and all around lazy types................
The Progressive meme on "minimum wage" is both misleading and a deliberate political tool of people like the Clintons and the Schumer/Pelosi pair in order to get votes in order to gain power over the very people they claim as subjects.
Ping for $1000.00 hourly Minimum wage solving ALL problems.
Paying 93,000,000 not to work hurts even more.
“Red Robin to offset minimum wage hikes by canning busboys”
https://nypost.com/2018/01/08/red-robin-will-offset-minimum-wage-hikes-by-canning-busboys/
They have 570 restaurants so that is what, around 6,000 or more out of work?
This isn’t even a case of unexpected consequences. These consequences were quite expected by people who understand business economics.
No!
What hurts the poor is a deranged immigration policy that has flooded the USA economy with millions of low-skill foreign workers.
Supply and demand.
When there is a MASSIVE oversupply of low skill labor, wages get crushed.
In Seattle they actually lost money; the employers just cut their hours.
The government does not have the right to set a minimum or maximum hourly rate.
Hikes in the Minimum Wage have the satisfying effect of putting more of those pesky industrious poor where they belong, on the dole where they are more likely to vote Democrat.
“Minimum wage” is “debtor’s prison” redux: if you can’t earn enough, you’re not allowed to earn anything at all.
And a thing is worth only what another will give for it, including wages for work.
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.
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%