Let's talk about income inequality

[fredtoast]

(06-11-2015, 07:53 PM)SunsetBengal Wrote: Hey everybody, LA just raised the minimum wage to $15/hr!!

Looks like a lot of Los Angeleans will be out of work soon..

http://www.youngcons.com/liberals-in-la-vote-to-raise-the-minimum-wage-then-this-immediately/



Advocates of minimum wage laws usually base their support of such laws on their estimate of how much a worker “needs” in order to have “a living wage” — or on some other criterion that pays little or no attention to the worker’s skill level, experience or general productivity. So it is hardly surprising that minimum wage laws set wages that price many a young worker out of a job.

Demand drives employment. 

Businesses will raise prices before they cut jobs and turn away customers.