This is how children view problem solving. Surface level solutions, but what happens next? Look at the countries that were like "I know! Lets print more money, then everyone will be rich!"https://twitter.com/Ilhan/status/1148394510394769413 …
People Make no money When you price them out of their job.
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It is the one part of the market where influence is in one direction. Without a minimum wage, wages can be lowered without consequence, only profit. Low-wage non-competitive workers cannot quit and to offer higher wages lowers profit. I think capitalism should have a leash.
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Then supply them with more money from taxes if it's not enough to survive, but to put people in unemployment because their jobs can't afford their salaries is silly. outside the job market not only are they taking in unemployment money but also not producing, increasing prices.
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We needed representatives who have at least a rudimentary understanding of economics. We cannot possibly make good policy from such ignorance.
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What is the ratio of corporate profits to wage increases? At a certain point you can raise wages without pricing people out.
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My understanding (No claim to be an expert) is corporate wages have risen much faster than wages. If unemployment is low, why wouldn't market forces increase wages? Market forces can lower wages, why can't it raise them?
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Most employers go out of business in the first few years, and struggle to be able to pay anyone anything.
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Maybe overtime they would balance but then we would be in the same spot again, inflation would kick in with prices going higher, which would lower purchasing power in spite of nominal wages being higher. Unemployment lowers production and increases goverment spending.
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Except that's not a thing. Some states have already raised wages to $15/hr without losing jobs. Not to mention many other countries have even higher minimum wages and are doing fine.
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