yeah, the various econ theories aside, back when I was in HS and got min wage, or near it, I got raises when it went up. So, even if the economists who argue against it are right, which I doubt, it's simply a political loser positon unless you're in a district that is dominated by older white people on soc sec or in the top 20%.
you were getting raises because the economy was growing, the unemployment was low and if you were a good worker, you were appreciated.
Now we have economy in stagnation, extremely high unemployment rate and one worker can be substituted by 10 others any second he is fired.
The minimum wage is not going to be raised in such conditions and should not.
because it will cause just more misery to those whom it is supposed to help.
Making the economy grow, stimulate jobs creation - THAT is going to raise the minimum wage by itself.
Are you sure?
More jobs, yes, but wage growth holds up recovery
The job market may be gradually improving, but the gains aren't showing up in worker's paychecks.
And the resulting belt-tightening continues to weigh on an economy heavily dependent on consumer spending.
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Wages for those at the very bottom of the income ladder have been falling, in real terms, for the past 45 years. Despite periodic increases, the current federal minimum wage adjusted for inflation has about the same buying power as it did in the 1950s.
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In better times, that so-called "wealth effect" might have helped spur consumer spending as households see the benefits of those rising markets in their retirement savings or home equity. But because so many of those households saw their homes repossessed or savings accounts wiped out, the impact of the wealth effect has been muted.
Meanwhile, wealthy households tend to spend a smaller portion of their overall income than those at the bottom of the income ladder living paycheck to paycheck.
That means that less of the overall growth in national income is flowing back into the economy in the form of demand.
More jobs, yes, but wage growth holds up recovery - NBC News.com
The last three recessions have last longer than previous recession because of the flat wages since the 1980s. (See chart below) Is it some kind of weird consistence? It's a no brainer for people who understand economics and the structure of the American economy.