[quote=ucodegen][quote=The-Shoveler]More lower wage Jobs is not the answer,
And we need to kick minimum wage to 15 an hour IMO.
( I know I am alone in that one)[/quote]Unintended consequences: Businesses go under, or lay off. Upward pressure on all wages.. and costs.[/quote]
That’s the problem right. $15/hr sounds like a good plan until you realize that all the costs in the system will go up. What you could buy with $8/hr is the same amount of stuff you can buy with $15/hr once the system adjusts to it. It’s the amount of stuff your productivity buys in the system that’s important. People working a low skill service job where anybody can do it have a ton of competition and therefore will be compensated at a survival level no matter what the units of currency are.
It’s really the same argument is every should have a good pension (i.e. $40K/year). Sounds good again but resources are limited and the retirement class has to compete with all the other people in the retirement class for the left over goods and services produced by the productive segment of the population. If I’m in the productive class I’m going to provide for myself, my kids, my own parents, before I have anything available for a stranger not working.