6 ms·
Many economists been warning this for years: increase minimum wages and it will hit the poorest the most.
by mudil 9y ago
Many economists been warning this for years: increase minimum wages and it will hit the poorest the most.
- toomuchtodo 9y agoPerhaps as the pace accelerates, those affected will vote for politicians who want to tax automation revenue and fund safety nets. Yes. Revenue, not profits. Why? See: Amazon EDIT: dragonwriter's verbiage is preferred. Better we address it now before pitchforks get handed out.
- dragonwriter 9y ago> Perhaps as the pace accelerates, those affected will vote for politicians who want to tax automation revenue and fund safety nets. Or, more simply, stop using high taxation on wage labor income to subsidize preferential taxation of capital income.
- deleted 9y ago[deleted]
- malvosenior 9y agoTaxing automation would raise prices and hurt the poor the most (McDonalds customers). It’s really not possible to outsmart the market.
- gt_ 9y ago>It’s not really possible to outsmart the market. This is exactly what advertising does, and it works great. There are other ways, but in any case this assertion is a fantasy.
- malvosenior 9y agoIf this were true, people would be making billions using advertising to push stock prices up and down. The fact is you can make a new market but you can't interfere with pricing without negative side effects.
- kevin_thibedeau 9y agoPoor Americans don't vote. That's why it's so easy to cut the safety nets since there are few political consequences.
- InclinedPlane 9y agoThat is not what the studies actually show.
- dingo_bat 9y agoBut that's what is happening in real life, as this article shows.