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Anonymous
Raising the minimum wage 2016-08-02 20:44:08 Post No. 1419241
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Raising the minimum wage 2016-08-02 20:44:08 Post No. 1419241
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Raising the minimum wage would be as follows:
>minimum wage is raised
>companies costs' increase
This can lead to a higher price level and (in a severe case) recession, so:
>in order to avoid a higher price level, governments can subsidize companies
>governments can subsidize companies with money derived from taxation or debt
debt is bad (especially for the United States). taxation, however:
>tax the richer in order to increase minimum wage
socialist fairy tale, right? Except:
>taxing the richer causes them to spend less which negatively impacts the economy equally as much as fiscal policy benefits it
>furthermore, since the rich are those that invest in and create new projects to drive actual economic growth, that slows down
So I think that from a purely growth-oriented economics standpoint, raising the minimum wage is a poor idea.
However, sometimes it is not just important to think about the broader picture, but also the littler people - a price floor might not be efficient but for fucks sake, these are peoples' lives we're talking about. Nobody in a society should be paid a wage that can't feed them.
So /biz/, what do you think? Raise the wage?
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>>1419241
Fucking no. Raise it and less people will be employed. Expendable resources will be cut like butter.
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>>1419241
That wage can feed them. It is not supposed to be a long term wage, however, those with less ambition as us don't pursue their own betterment. Why is that the fault of the rich?
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Raise it to 15/hr slowly, and invest in infrastructure. Sure, you geniuses won't become millionaires as easily, but the overall state of the economy would improve, and American culture wouldn't be such a piece of shit.
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>>1419241
Your entire theory is wrong. First off you'd get stagflation, not a recession. Also your entire theory is economically not sound. I'd recommend doing a bit more research because it sounds like you're interested in the topic, but you just don't have the correct ideas.
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Let the market determine the wage floor. Work on externalities such as labor supply to influence it.
i.e. enforce current immigration laws, lower immigration of unskilled labor, reduce/remove unneeded "protectionism" regulations like 1200 hrs to become a licensed hairdresser/massage therapist.
15/hr is just a meme. At 15/hr you will have skilled workers and retired boomers moonlighting to earn extra cash. i.e. dependable people who show up on-time and aren't high. Then, the people this was supposed to "help" will be complaining again and there will be a new meme about free houses or something.
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>>1419241
raise it to 15.
then im gonna laugh my ass off when 90% of berniggers and 50% of democrats lose their jobs and they go to illegals.
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