[quote=EconProf]Sure, CAR.
I have found a lot of facts and figures, pro and con, at Forbes.com. Search under “James Dorn” for several articles showing data.
Warning: Forbes is a pro business magazine. You will get the viewpoint of actual employers.[/quote]
Okay, I just googled “James Dorn minimum wage increase” and the first article I got stated this:
“When President Obama advocates a higher minimum wage in his State of the Union Address, he will no doubt argue that by increasing the minimum to $10.10, workers will have fatter pay checks and spend more, thus stimulating the economy and creating more jobs. In fact, economic logic tells a different story.”
“…Proponents of the minimum wage argue that those workers who do retain their jobs will consume more, which will increase aggregate demand and increase GDP. But that line of argument is a case of upside-down economics. Consumption is not a determinant of economic growth; it is the result of a prior increase in production. Workers cannot be paid what they haven’t first produced.”
In other words, it’s exactly what I said you would try to put forward in order to back up your views: right-wing talking points based on already disproved right-wing economic theories.
The supply-side, trickle-down dogma has been debunked. Witness no less than the past ~30 years of our grossly deteriorating economy and middle class as proof. Reagan and was an idiot and a tool for powerful interests whose sole desire was, and is, to funnel more and more of our world’s wealth and resources into the hands of these already very wealthy and powerful interests. He led us down a path that we may never be able to recover from.
Again, I’m asking for some kinds of evidence based on historical FACTS, not talking points.
