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> That just makes those people unemployable, and will need food stamps even more. This doesn't actually bear out. Minimum wage increases really don't have a hi

> That just makes those people unemployable, and will need food stamps even more. This doesn't actually bear out. Minimum wage increases really don't have a history of making minimum wage employees unemployable, or destroying the companies affected. In fact, the opposite tends to happen, as these businesses tend to be frequented by other minimum wage employees as customers, so it ends up being a rising tide that lifts all boats. > Do you want Big Tech to be American companies, or foreign companies? I'd argue that you can't just airdrop these companies into another country and have them be as successful as they are. Even with much stricter monopoly laws, there is a LOT about America that incentivizes these companies to locate there, and frankly I'm not convinced they'd move. And as a Canadian, I don't even want Big Tech to be American. =) The US is only part of the world, as you said, but your lax and corrupt legal system is polluting the world with these dangerous megacorps. Don't get me wrong, we're none better, our system would allow for nearly the same abuse, were it not for the fact that our whole country is smaller in population that California. But the point remains that there's a lot of the world that is looking on in horror at these rampaging monster companies and is not in any way assured by the "at least they're American" defense.

nox101 2y ago
> This doesn't actually bear out. Minimum wage increases really don't have a history of making minimum wage employees unemployable, or destroying the companies affected. In fact, the opposite tends to happen, as these businesses tend to be frequented by other minimum wage employees as customers, so it ends up being a rising tide that lifts all boats. It's not nearly that settled https://www.youtube.com/watch?v=Wvr0NhYfkO4 https://www.youtube.com/watch?v=Wvr0NhYfkO4 https://www.youtube.com/watch?v=8H4yp8Fbi-Y https://www.youtube.com/watch?v=8H4yp8Fbi-Y
- grayhatter 2y ago
  I'll give you the economist as an acceptable source... but reasontv has a habit of omitting easy to access data that's detrimental to the argument they started with. While that lack of candor might not be disqualifying, it's dishonest when you also present yourself as a journalist.
- pydry 2y ago
  It's not "settled" not because it isnt true - Dube, Lester, Reich proved that conclusively that it is. It's "debated" because raising the minimum wage hikes usually come out of profit margins: https://cepr.net/documents/publications/min-wage-2013-02.pdf https://cepr.net/documents/publications/min-wage-2013-02.pdf If there's one thing the business community and the econ think tanks it funds can all agree upon it's that any policy that involves sacrificing profits is Bad. Global warming denial and this both come from the same source.
  - nox101 2y ago
    it's debated because it's impossile to settle. Otherwise set the minimum wage to $5000 per hr. See how it works out
    - rfrey 2y ago
      That's not a convincing rebuttle. Saying that "drinking water is healthy" is controversial because "drink 1000 litres in a day and see how that goes" does not help the conversation.
      - kortilla 2y ago
        That’s a perfectly fine response when the entire counter argument is “raising minimum wage is fine because everyone magically does better business to support it”. That’s ridiculous on its face because there isn’t any higher level of productivity so someone in the economy is eating that loss.
        saagarjha 2y ago
        I don't think it is that clear-cut, though. People who are well-fed, well-rested, free from stress and have good healthcare do tend to be more productive.
        nox101 2y ago
        You're ignoring all the people that lost their jobs and had their hours shortened. If 1000 people earn minimum wage, raising it, some of them make more money, some lose money because their hours are shortened, some lose money because the jobs disappear. Whether that's a net positive overall is what's debated.
kortilla 2y ago
>as these businesses tend to be frequented by other minimum wage employees as customers, so it ends up being a rising tide that lifts all boats. Then why not just make minimum wage $100/hour?
- forgetfreeman 2y ago
  Because among other things that would make the oligarchs sad and trigger massive capital flight. Whether the emotional and financial well-being of the richest 150-ish people on the planet should be a credible concern is TBD.
  - robertlagrant 2y ago
    That's absolutely nothing to do with it. The problem with it is it would just cause massive inflation, driving up prices, and cut any jobs that aren't absolutely essential.
    - forgetfreeman 2y ago
      I see what you're saying, but you're overlooking the fact that some of the best funded pacs out there aggressively lobby against minimum wage increases. I submit they aren't spending that money out of boredom.
  - kortilla 2y ago
    No, it’s because it would mean restaurants would cost $400 to eat at for a basic sit down meal which would drive them all out of business. There are tons of things people will just immediately stop doing if the prices go up to support labor that expensive.
    - deleted 2y ago
      [deleted]

nox101 2y ago

> This doesn't actually bear out. Minimum wage increases really don't have a history of making minimum wage employees unemployable, or destroying the companies affected. In fact, the opposite tends to happen, as these businesses tend to be frequented by other minimum wage employees as customers, so it ends up being a rising tide that lifts all boats. It's not nearly that settled https://www.youtube.com/watch?v=Wvr0NhYfkO4 https://www.youtube.com/watch?v=Wvr0NhYfkO4 https://www.youtube.com/watch?v=8H4yp8Fbi-Y https://www.youtube.com/watch?v=8H4yp8Fbi-Y

grayhatter 2y ago
I'll give you the economist as an acceptable source... but reasontv has a habit of omitting easy to access data that's detrimental to the argument they started with. While that lack of candor might not be disqualifying, it's dishonest when you also present yourself as a journalist.
pydry 2y ago
It's not "settled" not because it isnt true - Dube, Lester, Reich proved that conclusively that it is. It's "debated" because raising the minimum wage hikes usually come out of profit margins: https://cepr.net/documents/publications/min-wage-2013-02.pdf https://cepr.net/documents/publications/min-wage-2013-02.pdf If there's one thing the business community and the econ think tanks it funds can all agree upon it's that any policy that involves sacrificing profits is Bad. Global warming denial and this both come from the same source.
- nox101 2y ago
  it's debated because it's impossile to settle. Otherwise set the minimum wage to $5000 per hr. See how it works out
  - rfrey 2y ago
    That's not a convincing rebuttle. Saying that "drinking water is healthy" is controversial because "drink 1000 litres in a day and see how that goes" does not help the conversation.
    - kortilla 2y ago
      That’s a perfectly fine response when the entire counter argument is “raising minimum wage is fine because everyone magically does better business to support it”. That’s ridiculous on its face because there isn’t any higher level of productivity so someone in the economy is eating that loss.
      - saagarjha 2y ago
        I don't think it is that clear-cut, though. People who are well-fed, well-rested, free from stress and have good healthcare do tend to be more productive.
        nox101 2y ago
        You're ignoring all the people that lost their jobs and had their hours shortened. If 1000 people earn minimum wage, raising it, some of them make more money, some lose money because their hours are shortened, some lose money because the jobs disappear. Whether that's a net positive overall is what's debated.

kortilla 2y ago

>as these businesses tend to be frequented by other minimum wage employees as customers, so it ends up being a rising tide that lifts all boats. Then why not just make minimum wage $100/hour?

forgetfreeman 2y ago
Because among other things that would make the oligarchs sad and trigger massive capital flight. Whether the emotional and financial well-being of the richest 150-ish people on the planet should be a credible concern is TBD.
- robertlagrant 2y ago
  That's absolutely nothing to do with it. The problem with it is it would just cause massive inflation, driving up prices, and cut any jobs that aren't absolutely essential.
  - forgetfreeman 2y ago
    I see what you're saying, but you're overlooking the fact that some of the best funded pacs out there aggressively lobby against minimum wage increases. I submit they aren't spending that money out of boredom.
- kortilla 2y ago
  No, it’s because it would mean restaurants would cost $400 to eat at for a basic sit down meal which would drive them all out of business. There are tons of things people will just immediately stop doing if the prices go up to support labor that expensive.
  - deleted 2y ago
    [deleted]