06-08-2016, 04:49 PM
(06-08-2016, 04:40 PM)fredtoast Wrote: Yes. Why would it not work?
Wages are based on competition. Raising minimum wage does not change that in any way. What makes you think it would?
How is this competition? There was no competition between the guy who worked 10 years to get to 15 dollars and the new hire making the same thing. This is actually the opposite of competition. What will really happen is the guy making 15 before will demand more and that is how we end back up in the exact same position but with inflation.
For the third time. Minimum wage will never be a livable standard, no matter what the number it does not matter. The floor of the economic ladder will always yield a poor class. You can not eliminate a poor class. Capitalism does not allow for there to be no poor class. The only thing you can do is try to make the conditions of your poor better than everyone elses. Raising wages doesn't do that because that new wage just becomes the new floor and cost of living adjusts to reflect that. You are better off slowly inching it up to keep pace with inflation, but to use non wage subsidies like housing vouchers to offset the income.
