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It seems simple enough to raise minimum wages: => tap into corporate profits that are through the roof & reduce the working poor problem. Organizing in unions w
by d--b 8y ago
It seems simple enough to raise minimum wages: => tap into corporate profits that are through the roof & reduce the working poor problem. Organizing in unions would work too.
Minimum wages exist for a reason: the job market does not satisfy the conditions for making it an "equilibrium" market. As long as unions are weak, corporations can and will strong-arm the labor force into cheaper and cheaper work.
The fact that it has become a better choice to live on welfare than working with minimum wage is ridiculous.
- tim333 8y agoA problem with raising minimum wages is then marginal businesses will lay off employees. It may be better for the government to subsidise low wages by chipping in a bit on top. eg this kind of thing https://www.moneyadviceservice.org.uk/en/articles/working-tax-credit https://www.moneyadviceservice.org.uk/en/articles/working-ta...
- d--b 8y agoSure, marginal businesses will be a problem. But it's no reason for large corporations not to pay their employees, and for the taxpayers to bare the cost. Higher minimal wages and tax credits for small businesses seems healthier.
- lr4444lr 8y agoSweden seems to do okay without them.
- d--b 8y agoSweden has unions though