Quote:
Originally Posted by iggy_oi
My favourite part is when the writer defends big corporations by saying it's a myth that they are sitting on piles of cash and have their money tied up in other things such as growth and creating jobs, implying they can't actually afford to pay their workers more, then further down the article he claims while small businesses can't afford to pay their employees more the corporations can.
So he's suggesting we should keep wages low so that big businesses can continue to grow which will give them a better ability to increase their buying power which will further reduce costs and then they can wipe out their competition, that are already operating on razor thin margins therefore cannot grow, by underselling them? Is this not the exact same end result that people are claiming will happen with increasing minimum wage?
Edit: also wanted to add, the evidence being presented about job losses in the US when the minimum wage was being raised from 2007-2009, is presented in a manor that kinda neglects the whole worst recession since the Great Depression thing that was going on at the time, and while you could argue that maybe it didn't help, I think most people are aware the main factors which contributed to that recession were unavoidable and were going to have a severe impact. One could even argue that given the circumstances, the fact that it only got as bad as it did with a 41% increase to the minimum wage piled on top, our minimum wage raise won't be as damaging as many fear.
|
So you agree that significantly raising the minimum wage during a recession is a bad idea? Well, at least we're making a bit of progress here.
By the way, this current recession is worse/deeper for Alberta than 08/09 was.