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View Diary: Another poll finds 71% support for raising the minimum wage (33 comments)

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  •  How can raising the mnimum wage (3+ / 0-)

    be controversial in any way?  All credible evidence shows that lifting up as many as possible in a society lifts up all in the society.  

    I am astonished that the grand lie that this costs jobs and hurts businesses has been sold (hook, line & sinker - as they say) to the American people.  Mr. Reagan

    •  Economists are leery about a minimum wage (1+ / 0-)
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      Even Krugman said as much.

      Economics 101 tells us to be very cautious about attempts to legislate market outcomes. Every textbook — mine included — lays out the unintended consequences that flow from policies like rent controls or agricultural price supports. And even most liberal economists would, I suspect, agree that setting a minimum wage of, say, $20 an hour would create a lot of problems.
      Krugman goes on to explain that in the current circumstances an increase like the President proposed ($9) would be justified.
      [T]here are strong reasons to believe that the kind of minimum wage increase the president is proposing would have overwhelmingly positive effects.
      His reasoning would, no doubt, extend to the $10.10 proposed by Harkin and George Miller.
      •  Rent control is established (1+ / 0-)
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        in large cities in the US to protect the poor and working classes.  It has worked for a very long time.  Minimum wage laws are common throughout the world.  Many EU countries have higher minimum wages than the US.  We have regressed since Reagan.  Sad for the once leader of the free world.


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