4 ms·
> BI is not paid by employers to employees. You seem to be confusing Basic Income with some kind of minimum wage. Although, raising the minimum wage would be a
by pitay 10y ago
> BI is not paid by employers to employees. You seem to be confusing Basic Income with some kind of minimum wage.
Although, raising the minimum wage would be a good thing. Here is an article that shows how the lowest paying companies are effectively ripping off the rest of the economy:
http://prospect.org/article/confronting-parasite-economy http://prospect.org/article/confronting-parasite-economy (Confronting the Parasite Economy)
The articles is written by Nick Hanauer who is co-chair board of Pacific Coast Feather Company, his families business.
Here is a excerpt from the article which explained what happened when minimum wage was raised to $15 an hour in Seattle.
In 2014, Seattle took its high-wage model one step further, passing the first $15 minimum wage in the nation. Restaurateurs and right-wing think tanks warned of ruin. Businesses would close. Workers would lose their jobs. The invisible hand would punch us in the mouth. But it never happened.
As the Puget Sound Business Journal recently reported in a front page story titled “Apocalypse Not: $15 and the cuts that never came,” six months after the first wage increase went into effect, Seattle’s restaurant industry is growing faster than ever. Even celebrity chef Tom Douglas, who had warned that Seattle could lose a quarter of its downtown restaurants, has continued to add restaurants to his local empire. “Douglas has now changed his mind about the law,” the PSBJ reports, “saying he was ‘naïve’ to think that restaurants would raise pay on their own.” That he was. And then on February 15, 2016, The Seattle Times reported that ADP’s national survey of economic vitality ranked Washington state number one in the country for both wage and job growth. And you thought higher wages killed jobs. Not hardly.
- autokad 10y agobasic income and minimum wage is about the same thing, its just a matter of how it gets taken out of our paychecks. seatle is successful because of a tech boom and subsequent real estate boom, not because of minimum wage, that started just over a year ago.
- pitay 10y agoI disagree that basic income and minimum wage is about the same thing. I would be interested in where you have got the data from for that assertion that it was because of a tech boom and subsequent real estate boom. At the moment I believe the person who actually employs people as a large manufacturer than what is mentioned here in a comment. If you would like to give your sources, I would be interested.