This Billionaire Governor Taxed the Rich and Increased the Minimum Wage —

[SunsetBengal]

(06-30-2016, 08:14 PM)Aquapod770 Wrote: 9.50 by 2018? What a massive increase to the minimum wage.   That clearly means we can bump it up to $15 right now.





In all seriousness I'd happily support raising it to $9.50. Not $15. The biggest issue with raising minimum wage is a macroeconomic theory called binding minimum wage.  Basically if the government sets minimum wage above the market equilibrium point they're guaranteeing a certain percentage of unemployment. Hurting young and low-skilled workers the most. The very people minimum wage is supposed to help.  Do we know where the market equilibrium point is? No. Should we just go ahead and double the minimum wage? Definitely not.

There are some locations where $15 is absolutely necessary, and the respective economies can afford it.  Other places, not so much..