Comment by kortilla
20 days ago
That’s a perfectly fine response when the entire counter argument is “raising minimum wage is fine because everyone magically does better business to support it”.
That’s ridiculous on its face because there isn’t any higher level of productivity so someone in the economy is eating that loss.
I don't think it is that clear-cut, though. People who are well-fed, well-rested, free from stress and have good healthcare do tend to be more productive.
You're ignoring all the people that lost their jobs and had their hours shortened. If 1000 people earn minimum wage, raising it, some of them make more money, some lose money because their hours are shortened, some lose money because the jobs disappear. Whether that's a net positive overall is what's debated.
>You're ignoring all the people that lost their jobs
Because Dube, Lester, Reich says that they don't exist. Businesses pay for almost all hikes by dipping into their profit margins. A small % raise prices. A negligible number let people go.
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It's legal for employers to offer these benefits.