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View Diary: America needs a raise (75 comments)

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  •  The Economist is pretty liberal. (0+ / 0-)

    Endorsing Obama twice, and the article refers to Milton Friedman's argument as being wrong. Anyway, there are limits to how far the minimum wage can rise. You could not increase it to $15 or higher without facing severe repercussions.

    •  Endorsing Obama is liberal? (1+ / 0-)
      Recommended by:
      JesseCW

      Given his opponents,I'd say it was common sense. But then,I'm not a liberal.
      Currently,the government is subsidizing wages for all those companies who do not pay a living wage (a fact noted in The Economist) At the same time,these subsidized-by-moi (US taxpayer) businesses are paying their upmost mgmt. & shareholders $$$$$ and sitting on record cash while paying govt. off to get the laws (tax,labor,inheritance,environmental etc.) written that they "need". Obscene and as history shows,a path to revolution.
      BTW,at 15$ an hour and presuming a 40hr. work week, a single individual would make $31200 (AGI yet!!!). Still low enough to qualify for subsidized insurance under the ACA in some states That is what capitalism hath wrought. The US can do so much better for itself.

      "George RR Martin is not your bitch" ~~ Neil Gaiman

      by tardis10 on Fri Jan 03, 2014 at 10:09:13 AM PST

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      •  $15 now is impossible. (0+ / 0-)

        If you tried to introduce an economy-wide $15 minimum wage, there would be massive disruption and many jobs lost, with unemployment spiking up. Historically, the purpose of the minimum wage was to keep workers just above the poverty level. Today's $7.25 fails miserably even at that, whereas the $10.10 level would probably accomplish it. A $15 level would require years of planning, and gradual implementation across different sectors. The SeaTac initiative only applies to certain sectors, and even that has been diminished by the judges ruling. Needless to say, it will be fascinating to see the effects of the proposed minimum wage hikes in both SeaTac and now Seattle itself.

        •  erm,How Soon is Now? (1+ / 0-)
          Recommended by:
          JesseCW

          Sorry could not resist The Smiths reference.
          As you note,we will see how this plays out. Now,where you see disruption and spiking unemployment,I do not. Right now, I believe US corp. are running labor as lean as they can. Overworked and underpaid Americans are commonplace. As are record corporate profits & CEO salaries.

          "George RR Martin is not your bitch" ~~ Neil Gaiman

          by tardis10 on Fri Jan 03, 2014 at 01:47:39 PM PST

          [ Parent ]

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