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@hansw@mastodon.social The data shows that as minimum wage increases it results in the poorest and less skilled people being fired and the more well-to-do people with higher education getting more jobs at higher wages. Effectively causing the poor to become poorer and suffer more.
See attached image as a reference to this.
@freemo @hansw@mastodon.social
AFAIK, the committee is still out on whether minimum wage is a bad thing for a given country or not. For some references Wikipedia is rather extensive: https://en.wikipedia.org/wiki/Minimum_wage#Debate_over_consequences
This debate started about US. I have no stake in that, but given the experience of most EU countries with minimum wage, I doubt it would go horribly wrong in the long run for the US either.
There is sadly, always going to be different of opinion on political subjects, 99% of those will be on an extremist side of the political spectrum arguing for an absolutist solution.
But the individual facts there is little doubt. and the two key ones here are that 1) while moderate increases in minimum wage does not decrease the net unemployment 2) it does shift the unemployment burden to the least skilled and most poor portion of the population at the benfit of more skilled and least poor people.
Some often use trickledown economics in its liberal form to argue for it, that by making those whoa re already well to do richer they can use that money to boost the economy and somehow help the poor or ultimately got screwed in the decision...
Frankly I find that bs and the data doesnt bear it out and needs to be pretty manipulated to support that argument.
Likewise the right is just as rediculous wanting to abolish all welfare and minimum wage all together and figure somehow it will all fix itself.
You will find very few people actually looking for a real solution that isn't at the extreme ends of propaganda on the political spectrum. The lack of suck people is the very reason we dont and arelikely not to see a solution, not in the USA, not in the EU.
@hansw@mastodon.social
