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GidMK's profile
Health Nerd
Health Nerd
Health Nerd
Verified account
@GidMK

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Health NerdVerified account

@GidMK

Epidemiologist. Writer (Guardian, Observer etc). "Well known research trouble-maker". PhDing at @UoW Host of @senscipod Email gidmk.healthnerd@gmail.com he/him

Sydney, New South Wales
theguardian.com/profile/gideon…
Joined November 2015

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    Health Nerd‏Verified account @GidMK Feb 8

    Health Nerd Retweeted New York Post

    This stuff is fascinating. Pay to low-income workers would increase by $509 billion under the bill, but the CBO has assumed that this is a fixed system and that higher wages -> higher prices -> less spending -> fewer jobshttps://twitter.com/nypost/status/1358835801946259457 …

    Health Nerd added,

    New York PostVerified account @nypost
    Biden's $15 minimum wage would cost 1.4 million jobs: CBO https://trib.al/TSGP2nE  pic.twitter.com/M5LVpTxhUb
    4:50 PM - 8 Feb 2021
    • 3 Retweets
    • 32 Likes
    • transplantrockstar Jay Adam JayMan Jerzy Samolej One Paunch Man Suzanne Currie Rob England 🦓 peachy 🅹🅾🅴 🇨🇦🦠🦫 Pfizer 2/3 💉
    6 replies 3 retweets 32 likes
      1. New conversation
      2. Health Nerd‏Verified account @GidMK Feb 8

        Even more interesting is when you really dig into the weeds. For example, half of all those 'lost' jobs are estimated to be from teens working at the minimum wagepic.twitter.com/Gds1XdkUK0

        2 replies 1 retweet 16 likes
        Show this thread
      3. Health Nerd‏Verified account @GidMK Feb 8

        This is a problem that is quite easily solvable. In Australia we have age-adjusted minimum wages for precisely this reasonpic.twitter.com/8qZw2uJ7uh

        4 replies 10 retweets 32 likes
        Show this thread
      4. Health Nerd‏Verified account @GidMK Feb 8

        Also, the uncertainty here is M A S S I V E Here's the table of studies that the CBO used to derive its estimates. A positive number indicates that minimum wage hikes ~increase~ employmentpic.twitter.com/TVQQ18KR9r

        3 replies 1 retweet 11 likes
        Show this thread
      5. End of conversation
      1. Tom Rex  🏳️‍🌈‏ @TheRealTomRex Feb 8
        Replying to @GidMK

        Of course! It's the Post. Conservatives can't imagine that increasing most people's slices actually increases the size of the pie.

        0 replies 0 retweets 1 like
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      1. New conversation
      2. Rick Calvert‏ @blogworld Feb 8
        Replying to @GidMK

        It's not just that, higher wages means more automation = fewer jobs + companies just using fewer people to get the same work done = fewer jobs + higher wages means less experienced people aka the people who need a job the most have fewer jobs available. Its common sense

        1 reply 0 retweets 0 likes
      3. Health Nerd‏Verified account @GidMK Feb 8
        Replying to @blogworld

        The CBO report doesn't disaggregate those, they just calculate an average change in employment due to minimum wage increases including all potential impacts with the fixed assumption

        0 replies 0 retweets 0 likes
      4. End of conversation
      1. New conversation
      2. Rolo Tamasi‏ @Rolo_Tamasi Feb 8
        Replying to @GidMK

        There's a certain inevitably about this. Paying people more for no greater output by definition means higher prices. Higher prices inevitably means some reduction in consumption and production. That bit is simple.

        1 reply 0 retweets 0 likes
      3. Matt Bell‏ @matt7738 Feb 9
        Replying to @Rolo_Tamasi @GidMK

        But higher wages lead to higher consumption. It’s a two-sided equation. Some people forget that.

        0 replies 0 retweets 0 likes
      4. End of conversation
      1. Matt Bell‏ @matt7738 Feb 9
        Replying to @GidMK

        Are they under the impression that wages, once paid, simply evaporate? People who make minimum wage SPEND pretty much everything they make - often at the same type of places they work. Double their pay, double their spending.

        0 replies 0 retweets 0 likes
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