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I can't look at that website due to certificate trust settings, however thanks for replying with data. It's pretty interesting numbers (lets assume its true).
by aplummer 6y ago
I can't look at that website due to certificate trust settings, however thanks for replying with data. It's pretty interesting numbers (lets assume its true).
So a raise of 25% would equate to 1.28% unemployment. A fully socialized welfare system (Centrelink in Australia) costs 14% of GDP with 6.8% unemployment. So a reversal of 25% would reduce that to 5.52%, and 11.36% of GDP (assuming overheads etc are linear, optimistic).
TLDR; if this article is correct, raising minimum wage 25% requires governments invest 2.6PP of GDP.
At least that's a decent point to have a rational discussion about where governments spend money and what your priorities are - thanks for sharing.