Quote:
Originally Posted by Locke
So....they're completely opposed to common sense? Nothing new there.
|
Minimum wage differential is bad. It creates market distortions. It also arbitrarily assumes that all kids are in the same situation. If a kid is helping his family pay rent should t he get the full wage. I read or maybe heard somewhere that middle and upper class youth employment has cratered relative to lower income youth employment. In this scenario decreasing youth minimum wage doesn’t really help.
Instead lower minimum wage in general and increase taxation to support low income people who need it. Make us more competitive and producing stuff and tax those that benefit and profit from lower costs.
For example subsidizing rents by $160 per month would reduce the required living wage by $1 per hour. This could be then targeted at lower income people and paid for by increased taxation.