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Originally Posted by nik-
You think it will level out. But doing this in an already fragile economy is insane. There will be layoffs which will add to an already higher than normal level of unemployment, even less disposable incomes, less business, more layoffs.
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I agree with this. If you raise the minimum wage while employment levels are continuing to plummet, you're not going to see the increased demand because you've already lost a bunch of potential buyers.
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A bracketed minimum wage increase is more reasonable imo. Based on revenue or taxed income of a business to protect high revenue/low profit businesses. Ie: a Wal-Mart can absorb a minimum wage increase a lot better than Sue's Bakery. What that does for talent competition though is a whole other ball of wax.
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Surprised you'd advocate for something that looks like the government interfering in the free-market. I don't think I agree with it either because it's a reactive measure. If you actually want to level the playing field, then there needs to be some real substantive policies that deal with the use of what is essentially slave labour in underdeveloped countries.