2016 Postmortem
In reply to the discussion: What Bernie misses about $15 min wage [View all]Armstead
(47,803 posts)1)It's not $15 tomorrow. It's phased in over several years. And by then the cost of living will have also increased.
2)Businesses have fixed costs, taxes, rent, utilities, production expenses etc. Businesses (at least those without a moral compass) see labor as a more controllable cost, and they will likely squeeze that because they can. The idea of a minimum wage is to prevent that beyond a certain level. Making it at a level that someone working full time can actually afford the basics should be a no-brainier in terms of common decency.
3)There have been many different studies about the impact of the minimum wage on employment, and it's nebulous and variable enough that you almost have to choose which to believe. Once upon a time liberals tended to go with those that supported raising it as a source of economic growth, as well as being morally correct.
I guess that liberal thinking has become fallacious these days.