More and more business are opting to employ technology rather than $15hr minimum wage employees looking for full benefits packages. The economic model for human employees is becoming untenable with the increase in regulation. Why does the Left ignore this fate? It can't be as simple as pandering for votes.
Gov. Cuomo Raises Minimum Wage to $15 for All N.Y. Workers
It simply can't be sustained. As people become less involved in each others lives a touch screen becomes the preferred method of interaction anyway.
BUT HERE'S THE REALITY....TECHNOLOGY CAN'T SHOP AT YOUR STORES AND SPEND MONEY....ONLY HUMANS CAN DO THAT, SO KEEP UP THE WORK, CORPORA.....YOUR FUTURE LOOKS DIMMER BY THE DECADES!!
Not that facts have any place in this conversation but... Only 4.3% of the population make minimum wage according to the BLS. So let's cut the talk of a market crash from the lack of buying power of the poor. Arbitrary increases in wages that have nothing to do with increased productivity hurt the economy. In this case, tremendous wage compression will occur. According to the BLS the average hourly wage of a middle class family is $21.32hr. Under this plan, 2 fry cooks with 0 education and/or experience will be earning more than the current middle class family. That is how you destroy the middle class.
When unemployment rises, there will need to be more government assistance. After all we are compassionate people. This leads to higher taxes and national debt. And while all of the money is flowing into Washington (to be spent on cronyism), we continue to blame "big" whomever... Why do Liberals never include Big Government in the list of Pharma, Oil etc.?