2 ms·
It's like minimum wage increases; the benefits of higher employment/higher wages almost always outweigh the benefits of cheaper goods.
by Mikeb85 9y ago
It's like minimum wage increases; the benefits of higher employment/higher wages almost always outweigh the benefits of cheaper goods.
- wernercd 9y agoThe problem is "higher employment/higher wages" with increased minimum wages aren't a given. Plenty of studies (and real world examples) show that higher minimum wages means fewer jobs - why pay a cashier when you can install a touch screen kiosk? There could be an argument that it's because of unbalanced minimum wages (one city, state, etc)... but I think that even a national minimum wage increase to $15... or even a smaller one like $10... would do more damage to unskilled labor than would be beneficial. Personally? I could see an inflation based auto-increase... but just doubling the minimum wage in a short time frame is going to be damaging. IMO.