danielpalos
Diamond Member
- Banned
- #41
it makes more sense than your appeal to right wing ignorance.so what; unemployment compensation for simply being unemployed can automatically stablize that and promote a positive multiplier effect in the process.It is impossible to have wages rise with zero increase in production and not have a large lowering of productivity. Impossible.
Lowering productivity means lowering of profit margins/raising of prices. Again, impossible these things will not happen.
That translates into layoffs, again (virtually) impossible for that not to happen.
Don't believe me?
The CBO says so as well.
The Effects of a Minimum-Wage Increase on Employment and Family Income | Congressional Budget Office
It is the height of economic stupidity/naivety to expect tens of millions of people to get massive wage increases with ZERO increase in production and not have that cost jobs and hurt the overall economy.
Think people.
Finally, where in either the Constitution or the UN Charter does it say that a minimum wage must be a 'living wage'?
Hint - it doesn't.
and,
higher paid labor pays more in taxes and creates more in demand, in every long run equilibrium.
Nonsense...you are guessing/hoping.
Prove it with links to unbiased, factual data.
I guarantee you cannot.
The CBO is taking about a loss of at least 500,000 jobs at just a $10.10 MW.
Taxes and pogey will make up that difference - ridiculous.
MW earners have the lowest tax bracket. And pogey comes from tax payers - which means they lose money they would otherwise have spent. Plus, it is temporary whereas the CBO is talking about permanent job losses in those sectors.
Your theory makes NO sense and cannot be factually verified.
unemployment compensation for simply being unemployed can automatically stabilize that and promote a positive multiplier effect in the process.
and,
higher paid labor pays more in taxes and creates more in demand, in every long run equilibrium.