CitizenBBN
06-26-2017, 11:45 PM
http://www.foxnews.com/politics/2017/06/26/seattle-s-minimum-wage-hike-hurting-low-level-workers-study-says.html
The University of Washington paper asserts the new wages boosted worker pay by 3 percent, but also resulted in a 9-percent reduction in hours and a $125 cut to the monthly paychecks. The law also cost the city 5,000 jobs, the report said.
Not really a surprise to anyone with good grades in microeconomics, which shows indisputably that minimum wages are bad for the very people who they are supposed to help. it pushes the allocation production from labor to capital and pushes a number of substitutes that only hurt the lowest wage earning workers.
Now, if you want to buy stock in fast food robotics companies, that's a good plan if you think this $15/ hour thing is going to take hold. Thank goodness in Kentucky the courts stopped Lexington from going off the deep end and pretty much wrecking our economy.
The University of Washington paper asserts the new wages boosted worker pay by 3 percent, but also resulted in a 9-percent reduction in hours and a $125 cut to the monthly paychecks. The law also cost the city 5,000 jobs, the report said.
Not really a surprise to anyone with good grades in microeconomics, which shows indisputably that minimum wages are bad for the very people who they are supposed to help. it pushes the allocation production from labor to capital and pushes a number of substitutes that only hurt the lowest wage earning workers.
Now, if you want to buy stock in fast food robotics companies, that's a good plan if you think this $15/ hour thing is going to take hold. Thank goodness in Kentucky the courts stopped Lexington from going off the deep end and pretty much wrecking our economy.