Comments by "DEL J" (@IWLDELJ) on "Raising the Minimum Wage is Long Overdue." video.
-
1
-
@milosniffer5293 Though it's well discussed and well documented in MANY economic studies, even the congressional budget office admits that it would result in job losses. Also, I'm just discovering that it will aim to eliminate sub minimums for teens and disabled workers, which is doubly terrible, because the bulk of minimum wage earners are students and part timers, so the government is basically forcing businesses in poor states to fire those people immediately.
https://www.cbo.gov/publication/55681#:~:text=By%20increasing%20the%20cost%20of,%2C%20not%20just%20unemployed%2C%20workers.
They try to spin this positively, but it misses many key realities, like the fact that the cost of products will rise more than the labor rises, because there are multiple inflationary effects.
But also, the people they are fucking are the poorest consumers and working students, who need those jobs to keep from accruing excessive debt for their stupid degrees.
Characteristics of minimum wage workers: https://www.bls.gov/opub/reports/minimum-wage/2016/home.htm
The reality, however, is that if you don't know the effects of minimum wage, there is probably a HUGE amount of basic, common economic information that you're lacking, because for anyone who's ever objectively studied this stuff in all but the most casual way, there are mountains of irrefutable evidence against the vast majority of things leftists claim and promise.
1
-
1