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"In what has become a running joke amongst those skeptical of the claim that minimum wage increases have no effect on unemployment, a recent report by the Employment Policies Institute showed that 174 of the 184 co-sponsors of a bill to raise the federal minimum wage to $15 an hour hired unpaid interns."
"In a review of over 100 studies, economists David Neumark and William Wascher found that,A sizable majority of the studies surveyed ... give a relatively consistent (although not always statistically significant) indication of negative employment effects of minimum wages. In addition, among the papers we view as providing the most credible evidence, almost all point to negative employment effects, both for the United States as well as for many other countries." http://www.nber.org/papers/w12663.pdf
"Yes, minimum wages still do increase unemployment."
https://mises.org/blog/seattles-minimum-wage-supporters-ignore-facts
(Score: 0) by Anonymous Coward on Sunday July 30 2017, @11:05PM (1 child)
Not really, it's a byproduct of people being allowed to accumulate ungodly sums of money without consequence. If the tax rates for the richest were dependent upon the living conditions of the poorest, you'd see very quickly that there'd be no homeless or working poor left. They'd have all have comfortable salaries as all the other jobs would disappear and the labor market would return to some measure of sanity.
The reason you have all those people hussling like that is because there aren't many viable options left for improving ones standing in terms of income. Any time you have this much money concentrated in this few number of households, you're going to see the opportunities dry up.
(Score: 0) by Anonymous Coward on Monday July 31 2017, @01:55AM
If the tax rates for the richest were dependent upon the living conditions of the poorest
I'd Love To Change The World - Ten Years After (1971) [metrolyrics.com]
Tax the rich, feed the poor, till there are no rich no more
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