Author Topic: The Joe Biden Thread  (Read 6720 times)

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Offline Gorgeous Graham

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Re: The Joe Biden Thread
« Reply #750 on: March 08, 2021, 11:26:14 am »
Keep in mind that the whole "minimum wage" thing is a little more complex than some people make it out to be.

Yes, it certainly sounds good... "Give people a living wage", but the Congressional Budget Office (a non-partisan part of the government) has pointed out that a large increase in the minimum wage might help many low income workers, but it would also potentially cause thousands of others to lose their jobs.

Exactly.  Do-gooders who don't even read one economics paper on the subject think by simply raising the minimum wage substantially there won't be other effects on the economy or on people making minimum wage.  As if things happen in a bubble.  It's like when conservatives invaded Iraq to remove Saddam and didn't understand the power vacuum it would cause.

It would be very nice if people making minimum wage could simply get a raise to $15 but economics isn't that simple.  More jobs will be shifted overseas, more jobs will be automated etc.
I can tell how good of a person you are by how you treat the people you disagree with.