Comments by "whyamimrpink78" (@whyamimrpink78) on "Terrifying Covid-19 Projections | US System Will Be Overrun" video.
-
3
-
2
-
2
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
1
-
GreenIdLady 1 , not true as it was raised in 2007 and a recession took place. Not to say they are related, but to say every time it was raised we saw economic growth is simply false. Also, there is much more to the economy than the min. wage.
"People who have more money buy more goods and services. "
Isn't that easy because is those goods and services don't exist you can't buy them. You can't consume what you don't produce. Also, many European nations don't have a min. wage. But you taking a complex economy and reduce it down to the min. wage and the price of the Whopper is very foolish.
Looking at Seattle and NYC is foolish as well as, again, there are many factors involved. To start, NY and WA have higher teenage unemployment. Also, looknig at Seattle, they have lower taxes and is home to major HQ of Amazon and Starbucks. Thus, their economy set higher wages all around. This is no different than in Emeryville, CA who has had a high min. wage for years. Three of their top employers are Pixar and two pharmaceutical companies.
You see, all of that is no different than in the 90s when the min. wage was increased under Clinton. While unemployment did drop prior to the min. wage increase unemployment was already dropping along with the percent of those earning at, or below the min. wage was dropping. That means that people were being hired above the min. wage.
So yes, I do look at history. I recommend you do as well.
1
-
1
-
1
-
1
-
1
-
1
-
1
-
@EE-gv9wt , on pollution, locally, you can install local laws or have it so people refuse to go there. As for workplace hazards, people won't work there unless they are paid well. My dad works in a dangerous factory where they have a hard time getting workers. Thus they pay a lot. Do you think people are going to just work at a dangerous place? As for interest rates, I recommend you watch the Stephen Michael Davis video entitled
Kyle Kulinski Doesn't Get Interest Rates
On interest rates, again, people have higher rates because they are essentially higher risk. If you place a cap on interest rates you will get a situation where people cannot get credit cards.
As for eliminating the min, wage, many nations don't have a min. wage and do fine. For example, Denmark does not have one. Same with Norway. There are many nations with no min. wage. Singapore has one of the best economies in the world and no min. wage. But again, you are taking a very complex issue of the economy and reducing it down to the min. wage. Besides, you are ignoring my point in how, despite a min. wage, many businesses already pay much more. Why is that? Why isn't every business paying the min. wage?
1
-
1
-
1
-
1
-
1
-
1
-
1
-
@EE-gv9wt you do have more control at the local level. The more local a government is the more you can see if it is actually working for you. Also, the more local a government is the easier it is for you to leave and remain a US citizen. So local governments want to create an environment where people stay.
Capitalism has taken more people out of poverty than any other system. You see that in developing nations. Problem is that many developing nations don't follow capitalism.
" Libertarianism always works in theory we know that already."
I am not a libertarian, but we have seen this in other cases where something was made illegal. Consider prohibition for example, or drugs. It occurred underground.
We actually increased the min. wage prior to the downfall. And again, there is way more to the economy than the min. wage.
"They pay more than minimum wage only because they have to, to keep talent around."
Why? No one is forcing them to according to you.
"Minimum wage jobs usually don't require so much talent and are easily replaceable, but someone still has to do those jobs and people who do them (imo) should not starve. "
Does someone have to do them? A job only exist if the market values it. If you raise the min. wage too high many jobs go away. We have seen this. For example, states with higher min. wage typically have higher teenage unemployment. A major flaw of the min. wage is that it dictates how much is paid per hour, not per week. Again, far leftists over simplify these complex issues and wonder why their ideas continue to fail.
As for them not starving, most min. wage workers don't even work full time. On reason why they are paid a lower wage is because they work less and have flexible schedule. It isn't just skills that dictate wages but also how many hours you are willing to work, if your schedule is flexible or not, and so on. But statistically speaking around 90% earning $9.50/hr or less are not poor, and the vast majority who work a min. wage job works part time.
You criticize me about theory when so much suggests that the min. wage is not necessary. You point to Australia where, again, there is way more to the economy than the min. wage. Remember the US raised their min. wage and the recession followed.
1
-
1
-
1
-
1
-
1
-
1