not really sure you can discuss economics just using "science" and "logic"...economics is a social science...more to it than just math...
LOL. Just like how "tax cuts increase revenue!" Sam Brownback is burning Kansas to the ground as we speak but I'm sure you're still a believer in trickle down economics.
do you have specific points countering this interpretation of the facts or are you unable to process it. I spotted several dubious assertions in that list. but oh well.
It's just fundamentally inaccurate. What it should say is... Myth: Raising the minimum wage will only benefit teens. Not true: Raising the minimum wage doesn't benefit anyone in the long term. Honestly it's nothing more than the Obama Department of Labor trying to sell people on economic policy they want to push. It's propaganda from the administration. Raising the minimum wage only pushes up the cost of everything else and in the end it doesn't help anyone. Like my point earlier, when the minimum wage was $4.25 the talk was how an $8 "living wage" would fix everything, now that's considered a "slave wage" by those who now want to push it to $15 to fix everything. It's just short sighted and it shows the same fundamental misunderstanding of how things work that the DOL propaganda is pushing.
conservative, pro-business benefits of the minimum wage: the purported costs: http://laborcenter.berkeley.edu/local-minimum-wage-laws-impacts-on-workers-families-and-businesses/ I forgot though, research is propaganda.
Wasn't the point to help poor people? If you don't increase purchasing power, you haven't helped them by putting more dollars in their paychecks. The machine will keep turning because they just increase prices and people pay them so it doesn't really hurt business, it hurts the middle class by forcing some near the bottom out of the middle class shrinking the overall size of the middle class and does nothing for the poor in the long term.
Let me be more specific. Can you correlate the rise of the minimum wage with a slowdown in real GDP per capita? Here's a hint: you probably can't. Which means everything you just said are vapid nothings with no evidence or fact supporting them. In other words, propaganda.
What I can show is that purchasing power has not been increased with the increase in the minimum wage. That means that poor people haven't been helped by raising the minimum wage. People earning the minimum wage had more purchasing power 50 years ago when the minimum wage was $1.60 an hour than they do today when it is $7.25....doubling the minimum wage more than twice hasn't led to more purchasing power, but sure, keep thinking that you'll hit the magic number than that'll happen. It's just doing the same thing over and over again and expecting different results. If you make the minimum $15 an hour then in 10 years people will call that a starvation wage or a "slave wage" and will be wanting $25 an hour. Simply raising the minimum does nothing to help poor people have more purchasing power. The sooner everyone realizes that, the better we'll all be.
Blatantly false. Real purchasing power more than doubled for those earning the minimum wage from 1940 to 2010, this with a steady backdrop in increases in the minimum wage. Though inflation hit purchasing power from 1968 onwards at a clip of about 8.1%, the long term trend is undeniable. Looking for your "magic" number? Look to American history. http://www.pewresearch.org/fact-tank/2015/07/23/5-facts-about-the-minimum-wage/ Are you now lamenting the fact that minimum wage increases haven't caught up with inflation? Is your argument that minimum wage increases are a significant cause of 1970s inflation?
I guess the first rebuttal would be to get a roommate, the second would be to ask if 40 hours is a realistic work week anymore. Alaska's certainly more than I would have expected, even with most of the state being uninhabitable.
You might not be good at reading charts, but the chart you just posted shows that EXACTLY what I said was true. Those making minimum wage had more purchasing power 50 years ago when the minimum wage was $1.60 an hour than they do now. Raising the minimum wage time and time again since then has had no positive affect on their purchasing power in the long term. I guess this is where things break down, when you realize that you are speaking to someone that can't even accurately read the charts that they post, it's probably time to end that conversation. Maybe you mean well, but economics just isn't your thing kiddo.
This is your statement: Are you still sticking by that? You don't seem to have a solid grasp of the English language. Care to read again? I'm sorry, economics doesn't involve cherry picking evidence, as much as you'd like it to be the case. You can "end the conversation" when confronted with the facts--it'll be par for the course for the argument against the minimum wage which suffers significant empirical flaws at all levels.
15 buck an hour sounds fine and dandy.. but are the employers giving these folks same amount of hours or cutting back?
Obamacare actual results vs 'survey response results' showed us that self-serving surveys serve little purpose. Is there a difference in actual economic growth or employment rates in the high-min-wage states vs not?
