SK, raising minimum wage will accelerate mechanization. And again, the issue isn’t ALL labor, just the fact that we can get by with way LESS labor.
Playing with taxes and minimum wage and tax advantages of labor is just changing the breakeven point. It will have the same challenge as outsourcing. Effectively you just make labor here more expensive compare to substitute labor elsewhere. AKA, GM in the 90s with automated factory machines and union workers sitting on the bench. We know how that turned out, GM automated anyway.
But maybe Boomers will eventually do some good, as they age, they’ll need care, and they’ll increasingly need to pay someone to change their Depends. The Millinials aren’t doing to deal with your sh*t for peanuts. 🙂
