Re:Economists agree: Raising the minimum wage reduces poverty
by jedmeyers on Saturday January 04, 2014 @09:31PM
(#7014197)
But why would a $15/hour minimum wage work and $100/hour won't? Where between 15 and 100 do you draw the line and why?
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Re:Economists agree: Raising the minimum wage reduces poverty
by rayiner on Saturday January 04, 2014 @10:06PM
(#7014314)
Why raise the thermostat setting from 40F to 65F? Why wouldn't 100F be better? Where between 65F and 100F do you draw the line and why?
Re:Economists agree: Raising the minimum wage reduces poverty
by cstejerean on Saturday January 04, 2014 @11:08PM
(#7014485)
I draw the line at about 74. When it starts to get into 75+ it gets uncomfortable for me personally. So instead of being dismissive I think it's actually worth thinking about the question. If $15 could work as a minimum wage, and $100 would clearly not work, where in that range does the transition happen. Or maybe $15 is already too high, but $12 could work. I certainly don't know the answer, but it's an interesting thing to ponder.
Re:Economists agree: Raising the minimum wage reduces poverty
by crdoconnor on Sunday January 05, 2014 @01:14AM
(#7014824)
Australia's on roughly $15/hour. They have LOWER unemployment.
You draw the line when you start getting inflation at about 10-12%. That's when inflation starts to have an effect on economic growth.
It could be raised gradually until that point.