On 4/15/2015 5:57 PM, Baxter wrote:
"dadiOH" wrote in :

Lew Hodgett wrote:
wrote:


If the $15/hour minimum wage gets enacted it will raise the standard
of living of the whole economy except for the top 1% which will be
asked to pay for it.

Lew, if raising the minimum wage would enable all to enjoy a better
standard of living (except for the 1% of course then why haven't
the two dozen + raises in it over the last 70 years accomplished that
end?

Because those raises have not been big enough. In real terms, the minnimum
wage today buys far less than the minimum wage of 1973. Real wages have
fallen even as productivity has gone up.

see chart: http://tinyurl.com/qador9y

The only thing raising the mnimum wage does is raise all prices.

Proof of this is lacking. And those few instances where it did occur, the
raise in wages was greater than the raise in prices.



And yet here we are again with the government and its sheep followers
buying into needing a minimum wage increase again. There would be no
need for any wage increases for the sake of giving out trophies if the
government would get out of the economy business, quit giving away tax
dollars, and live within its means like we have to do.