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Originally Posted by PepsiFree
Isn't it better to have a greater number of people doing well?
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I contend that you aren't going to have more people doing well. The system is self-correcting. The minimum wage has increased numerous times in my lifetime. Why is this going to be the time that it finally changes anything? I'm not saying nothing should be done or that there isn't a problem, I'm just saying that targeting employers isn't always the right step. Cost control of necessities, subsidies, and tax breaks for poor people would be a much better route to go IMO.
I think more wealth distribution is a good thing, but not at the expense of people that don't have excessive wealth. If you had $20, it wouldn't be a good thing for you to have to give $1 to nineteen people with no money. It wouldn't solve the underlying issues.
https://www.forbes.com/sites/timwors...h=1954a3125ec8
I'll admit that I am biased on the issue due to my personal experiences. It makes it difficult to not get emotional about it, so it feels like a good time to stop reading for a while. I'll just leave this here for consideration and critiquing if people feel so inclined.
https://www.fraserinstitute.org/arti...-it-meant-help
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Of the 90 studies reviewed, five specifically examined minimum wage changes in Canada. All five studies concluded that there were negative consequences for employment from increases to minimum wages. For example, a 2006 study by economists Michele Campolieti, Morley Gunderson and Chris Riddell found that a 10-per-cent increase in the minimum wage resulted in a 1.4- to 4.4-per-cent reduction in the youth (aged 16 to 24) employment rate.
Research also indicates that employers often respond to increased minimum wages by reducing other benefits and on-the-job training. Even if workers earning the minimum wage are lucky enough to keep their job and the number of hours worked, they may still not be better off due to reduced benefits and/or training. A recent study in the Journal of Labor Economics found that the proportion of young workers receiving formal training fell by one to two percentage points for every 10-per-cent increase in the minimum wage.
Another unfortunate reality of increased minimum wages is that they increase high school drop-out rates. Duncan Chaplin and his colleagues published an important study in 2003 in the academic journal Economics of Education Review which found that higher minimum wages were related to reduced school enrolment among teenagers.
One of the most common misconceptions is that the majority of minimum wage earners are adults struggling to make ends meet while supporting families. In fact, the typical minimum-wage worker is young and lives at home.
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The above is a right of center source (The Fraser Institute), but it does provide sources for the information.
https://hbr.org/2021/06/research-whe...20by%2014.9%25.
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However, our data suggests that the way in which those hours were allocated among workers did change. For every $1 increase in the minimum wage, we found that the total number of workers scheduled to work each week increased by 27.7%, while the average number of hours each worker worked per week decrease by 20.8%. For an average store in California, these changes translated into four extra workers per week and five fewer hours per worker per week — which meant that the total wage compensation of an average minimum wage worker in a California store actually fell by 13.6%.
This decrease in the average number of hours worked not only reduced total wages, but also impacted eligibility for benefits. We found that for every $1 increase in minimum wage, the percentage of workers working more than 20 hours per week (making them eligible for retirement benefits) decreased by 23.0%, while the percentage of workers with more than 30 hours per week (making them eligible for health care benefits) decreased by 14.9%. This suggests that as minimum wage increases, firms may strategically adjust their scheduling practices to reduce the number of workers eligible for benefits: Our estimates suggest that the average store in our California data set recouped approximately 27.5% of the increase in its wage costs through savings associated with reducing benefits.
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Not sure what the slant is for the HBR, but assuming the same as the Fraser Institute. Their data is specific to California.
Here are some anecdotal experiences in Ontario that go along with the themes above:
https://torontoobserver.ca/special-r...wage-increase/
The Toronto Observer has no particular leaning. I won't quote anything, but it is there to read.