"You think it'd be very American to protect American workers," says Grassley, who always votes against minimum wage increases. #CIRmarkup
@mtpollack No, this is a myth still sometimes taught in Econ 101. Reality indicates that raising the min wage is good for all workers.
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@aurabogado Hardly a myth. Ask any small-biz owner. Do you really think that if you made the minimum. wage $200, it wouldn't depress hiring? -
@mtpollack Sorry to tell you, it is very much a myth. Most economist-left, right and center-agree that your example wouldn't depress hiring -
@aurabogado It's simply common sense; it's a zero-sum game. If forced to pay more, employers cut hours, benefits, hiring. No free lunch. -
@mtpollack Second time: I'm done with this conversation that's impossible to have tin 140 characters at a time. Have a nice day. -
@aurabogado It's not so hard; just have to be concise. But if that's too difficult for you, fine. I realize "why not $1000?" was a toughie. - End of conversation
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@aurabogado In fact, this downward pressure on the lowest-skilled was the original reason for min. wage laws in the first place. -
@mtpollack It's hard to make econ theory and practice arguments in 140 characters. But I don't budge on myths. Enjoy the rest of your day.
End of conversation
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