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A number of amateur economists would have you believe
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A number of amateur economists would have you believe


Jan 19, 2021, 4:36 PM

that raising the minimum wage will cause higher unemployment. But the actual research tells a different story.

https://www.vox.com/future-perfect/2019/3/19/18271276/alan-krueger-economist-death-minimum-wage-princeton?campaign_id=116&emc=edit_pk_20210119&instance_id=26160&nl=paul-krugman®i_id=63096823&segment_id=49689&te=1&user_id=8e0bbadc86f85a865babbeb7f7f730a3#:~:text=In%20a%20paper%20first%20published,effect%20on%20April%201,%2019

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I'm not going to believe anything written by


Jan 19, 2021, 4:39 PM

Kruger

.


.

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K_UGER.***


Jan 19, 2021, 5:14 PM



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Re: A number of amateur economists would have you believe


Jan 19, 2021, 4:49 PM

Seems he was very disappointed in his study.

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The median wage in Mississippi is right at $15/hr


Jan 19, 2021, 4:56 PM

if will no longer be the median wage after the covid stimulus package is passed and raised the minimum wage to $15/hr.

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The Max Comp rate in SC now is $903


Jan 19, 2021, 5:32 PM

That means the average South Carolinian makes $1355..... roughly per week.

That comes out to $34/hour, roughly.

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Well,


Jan 19, 2021, 5:12 PM

He's dead.

Prolly still voted for Biden.

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https://as1.ftcdn.net/v2/jpg/00/81/16/28/1000_F_81162810_8TlZDomtVuVGlyqWL2I4HA7Wlqw7cr5a.jpg


It won't increase unemployment. It will cause inflation in


Jan 19, 2021, 5:15 PM

things like hamburgers, yard mowing, frame carpentry, and whatever else relies on cheap (usually youth or illegal) labor. So they pay you 30% more to flip a burger. Then you buy a burger that costs 30% more. There's no net gain, or whatever. It's a zero sum game.

Just means everything tied to minimum wage skews upward. And that is something we can't afford actually. Inflation is our enemy, and it's why we have a trade deficit, illegal domestic labor, and no more manufacturing base to speak of. Obama said all the same crap when he was running for office. He inherited a dem congress. It never materialized. It won't with Biden either. Mark my words. And Trump's wall never materialized when he inherited a pub Congress. Same reason.

We're being played.

I visited Switzerland once and ate an $7 Big Mac. Bartender was making $19/hr, which was three times the US rate. BUT, he then had to go buy a $7 big Mac across the street and his lodging, food, everything else is more expensive. So he's lower class in Zermatt, or in Miami where he's from. $19/hr or $5, doesn't matter.


Message was edited by: Tiggity®


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It may not cause unemployment to rise much but it will


Jan 19, 2021, 5:19 PM

hurt business.

$15 is asinine for a federal rate right now. I could support $10. The minimum wage in Florida right now is $8.65.

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Denmark disagrees***


Jan 19, 2021, 5:46 PM



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Cole @ Beach Cole w/ Clemson Hat


Re: Denmark disagrees***


Jan 19, 2021, 6:20 PM

Denmark is $11.70.

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What's gas prices there?


Jan 19, 2021, 6:26 PM [ in reply to Denmark disagrees*** ]

$9 per galllon?

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depends......


Jan 19, 2021, 5:38 PM

does it count the computer at the self-checkout line as gainfully employed?

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Re: A number of amateur economists would have you believe


Jan 19, 2021, 6:34 PM



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Re: A number of amateur economists would have you believe


Jan 19, 2021, 6:59 PM

The NJ PA study was limited geographically and mostly inconclusive.

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where do you think the extra $$$ to pay higher wages comes


Jan 19, 2021, 7:30 PM

from? It's like raising corporate taxes! THe companies are not going to eat that cost! They pass it down to you! Everything will cost more and guess what!? People will want the minimum wage to be increased to pay for it!

And yes, jobs will be lost because larger corporations will just not hire or find ways to reduce employees.

Perhaps half the country doesn't really care because they're the parasites that want a hand out!

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“poor kids are just as bright and just as talented as white kids.”


Re: A number of amateur economists would have you believe


Jan 19, 2021, 7:46 PM

Unbelievable you cite an article where the first paragraph talks about the guy for which they are extoling virtues killed himself.

Good gosh.

Anyway, if $15 is good, why not $25? Or, $17.50? Or whatever. These people have no idea what they are doing.

But it is clear optics are more important to Democrats than anything else...to keep the sheep believing they are so much more giving and loving than the deplorables. When in fact, small businesses will indeed be put out of business. You can't just increase salary expenses by 20, 30, 40% and expect no problems. In the real world, profit = revenue - expenses matters.

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Re: A number of amateur economists would have you believe


Jan 19, 2021, 10:02 PM

Amateur economists vs professional ones - who to believe ??

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Re: A number of amateur economists would have you believe


Jan 19, 2021, 10:12 PM

Tobias, quit while you're ahead. You're wrong. Krueger is dead, as is his theory!

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