You understand that is a negative, right? It benefits middle class families at the expense of poor families. You do get that,right?Seriously. You should read it too.Actually, it does help, read the Cato Institute's points.The minimum wage is not one on which to support one's self or a family.Good. You then (or your proxy) shall be the arbiter for EVERYONE what work is worth. Understood.
Upon what moral authority do you decide for EVERYONE what their work is worth? I'd really like to know, because I think you have no business telling me what my work is worth.
And statutory minimum wage has the precise role to play in that, as has been explained to you. You seem to wish those injustices to expand even further. Why is that?
It would be better, because their wages would be worth more, as was clearly explained to you.
Statutory minimum wage REQUIRES that you underpay for work worth more than the statutory minimum, in order to subsidize the work that is worth less than the statutory minimum. It is a mathematical and economic truth that is inescapable, and indisputable.
So now that you've unambiguously established that the value of the work is irrelevant to what should paid, I submit again this question:
Upon what moral authority do you (or your proxy) decide for EVERYONE what their work is worth?
Thank you.
What we are seeing now, would only get worse.
About 75% of "we the people" want an increase in the minimum wage. The conservative Cato Institute has stated that raising the minimum wage has a positive income effect on the middle class*. Yet congress won't budge on raising the minimum wage because their financial sponsors don't want to have to pay half way decent wages. Someone is behind the demise of the middle class, someone is behind the story of the below chart.
*Minimum Wage Hike Would Benefit 3X More Middle-Class Workers Than PoorView attachment 41964
The min wage issue is pure politics.
Danke.
Seriously, I read it quite awhile ago. And seriously I don't agree with all that Cato has to say but not to the point my veins in my neck are bursting. Their point about the middle class benefiting is shared by a majority of economist from both sides of the aisle. It raises the floor for wage earners, that is good in light of the fact the largest wage earning demographic in America has been screwed over for decades. But then you appear to support the concept of people working for peanuts, don't you?