University of Chicago of r/FluentInFinanance economists discuss whether the minimum wage should be increased.
https://old.reddit.com/r/FluentInFinance/comments/1f5dgf6/as_if_we_need_more_convincing_that_its_beyond/
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Kinda craycray how whenever I travel to one of these enlightened paradises where the minimum wage is $15, suddenly the fast food and rent prices are 2x and 4x what I pay back home respectively
We should ban raising prices next
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Minimum wage is the direct driver of cost of living increases and inflation. It's so crazy that the places that I go to where it is expensive to live have high minimum wages.
I don't even disagree with the basic premise that minimum wage laws aren't necessarily helpful, but there is so much covariance between shit like CoL, inflation, and wages that pointing to one as a direct cause of the other is just another way to show the world you're r-slurred.
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So that means the minimum wage isn't even necessary, right?
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It really depends on the situation. I think it's not in the interest of the government to have a hyper-exploited class of futureless discontented laborers with nothing to lose, so in that context, interfering with the labor free market just makes it easier to control the populace.
Practically, I'd prefer less minimum wage laws where that's not the case.
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The reddit thread is talking about raising the federal minimum to $15 or $20 or whatever
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Yeah completely r-slurred, federal income tax needs to hit the bottom of the lowest CoL areas in America. Up to all other places to figure out how much iPhone factory roof jumping they want.
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Is this something that actually happens in america
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Nah lol but minimum wage is basically about controlling how shittily the lowest dregs of society live in America. Extreme poverty is just bad optics
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No it should exist but only for non-citizens. Let juan have a 70 an hour min and all the work that surely goes with it while the natives use things like their skill set to get money.
I've unironically never even seen a job ad for min wage, because no one here (side from immigrants) would ever even consider working for that little.
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