Except every time wages have been raised through legislation the markets were able to bare paying that higher wage without large scale negative impacts.
It's almost like businesses are paying less than the jobs are worth
https://twitter.com/TheLaurenChen/status/1241771147299115011 …
-
-
Replying to @RationalDis
This isn't necessarily true. The best supporting case for this argument comes from a study by Card and Krueger studying Pennsylvania, but one explanation for why employment didn't decrease was that the legislation set the wage at what the market basically would have been anyway.
1 reply 0 retweets 0 likes -
Replying to @lspiguesslol @RationalDis
Another argument was that this was unique to the restaurant industry, which was studied. One study described minimum wage impacts causing unemployment in trade jobs specifically by minimum wage increases, and the CBO likewise found that minimum wage increases cause unemployment.
1 reply 0 retweets 0 likes -
Replying to @lspiguesslol @RationalDis
The evidence is pretty mixed. A national $15/hr probably doesn't make sense. In fact, one might wager the $15 number is plainly political since the costs of living in most states isn't anywhere near that number, unless we assume single parent with two kids.
2 replies 0 retweets 1 like
Sure, I don't think that a nation minimum wage of $15 would work. Also that CBO report was on a federal minimum wage, which sounds right.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.