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And letting society pick up the tab through food stamps is a tax on the rest of us too.

by N1H1L 6y ago

scarface74 6y ago
As would be any combination of increased pricing if minimum wage was increased, increased unemployment because automation becomes much more attractive, decreased earnings affecting stock prices which affect public pensions which would cause an increase in taxes to make up the shortfall. If we increased the EITC, and raised taxes to fund it, we wouldn’t have to worry about food stamps.
- dlp211 6y ago
  Source that a higher minimum wage leads to those undesired outcomes. My best reading of research into the effects of minimum wage increases is that it doesn't lead to higher unemployment, but may result in reduced hours, which is a different kind of raise.
  - scarface74 6y ago
    Reduced hours still doesn’t bring in more money if they need it. But if you can trade automation or outsourcing for human labor, where is the tipping point where it just makes sense to outsource?
    - dlp211 6y ago
      Reduced hours leads to either the ability to work more jobs, or achieve more education, or achieve more leisure, or some other alternative. In all cases, you are better off if you make the same amount of money and work fewer hours. Automation is going to happen whether min wage is $8 or $12 or $15, it is just an inevitability. But, the US has never had high unemployment due to technology making us more productive. Those who worked certain jobs would have to find different work, but that doesn't mean that there won't be work for them.
      - scarface74 6y ago
        How many people working minimum wage jobs can afford “leisure”? No other time in history has technology taking out whole industries. Tesla is worth more than any of the car makers and employs many fewer people. The five major tech companies have fewer workers and paying them more. The US has never seen such income disparity as it sees now. Also when producing physical goods, the more goods you produce, the more people you need to hire. Microsoft doesn’t need to hire more people when it sells more copies of Office or Windows, Neither does Google need to hire more people to meet demand. Apple needs to hire more people to meet demand of hardware products - but those are all in China. Amazon is the only company in Big Tech that actually hires more Americans when demand increases.

And letting society pick up the tab through food stamps is a tax on the rest of us too.

by N1H1L 6y ago

And letting society pick up the tab through food stamps is a tax on the rest of us too.

As would be any combination of increased pricing if minimum wage was increased, increased unemployment because automation becomes much more attractive, decreased earnings affecting stock prices which affect public pensions which would cause an increase in taxes to make up the shortfall. If we increased the EITC, and raised taxes to fund it, we wouldn’t have to worry about food stamps.

dlp211 6y ago
Source that a higher minimum wage leads to those undesired outcomes. My best reading of research into the effects of minimum wage increases is that it doesn't lead to higher unemployment, but may result in reduced hours, which is a different kind of raise.
- scarface74 6y ago
  Reduced hours still doesn’t bring in more money if they need it. But if you can trade automation or outsourcing for human labor, where is the tipping point where it just makes sense to outsource?
  - dlp211 6y ago
    Reduced hours leads to either the ability to work more jobs, or achieve more education, or achieve more leisure, or some other alternative. In all cases, you are better off if you make the same amount of money and work fewer hours. Automation is going to happen whether min wage is $8 or $12 or $15, it is just an inevitability. But, the US has never had high unemployment due to technology making us more productive. Those who worked certain jobs would have to find different work, but that doesn't mean that there won't be work for them.
    - scarface74 6y ago
      How many people working minimum wage jobs can afford “leisure”? No other time in history has technology taking out whole industries. Tesla is worth more than any of the car makers and employs many fewer people. The five major tech companies have fewer workers and paying them more. The US has never seen such income disparity as it sees now. Also when producing physical goods, the more goods you produce, the more people you need to hire. Microsoft doesn’t need to hire more people when it sells more copies of Office or Windows, Neither does Google need to hire more people to meet demand. Apple needs to hire more people to meet demand of hardware products - but those are all in China. Amazon is the only company in Big Tech that actually hires more Americans when demand increases.