Sunday, July 2, 2017

Raising the Minimum wage

Seattle recently raised its minimum wage  to $15 an hour, though it wont fully get to that level for some time.
One study said how this went the opposite of usual in these cases and actually lost jobs.
Here is an article citing specific issues with that study and how it was done.
The Journal of Labor Economics cites that increased minim wage does not increase unemployment in most cases.

The trick here is something economists call the elasticity of Labor and Demand.
Many states have a higher minimum wage than the federal level.
Another article here

A state by state review of what states have a higher minimum wage  here is interesting.
Notice something in that list?  Those states are the among there wealthiest around and have the strongest economies.
If you raise the minimum wage you have a lot more people able to spend money, especially younger and poorer people who are more likely to spend it.  This has the opposite effect of Laffer Economics aka Trickle Down Economic where you give taxcuts to the wealthiest in the hopes they will invest it and create more jobs.  We have seen several attempts at this since the Reagan era and it fails every time.
        So why do Republicans favor it?
Why does a party based on conservative values that is against welfare for poor people want it for rich people?  Why does the GOP "Grand Old Party" give loophole after loophole for the rich and tell the poor to pull themselves up by the bootstraps. That they should buy Health Insurance rather than an iPhone.
That These religious leaders..

are some better than these ones...
Think about it for a bit.  This whole thing is why I left the Republican party.  It use to be they were the party of the wealthy and defense while the democrats where for labor and civil rights.
However after Jerry Fallwell sucked them in they have sold out and lost their way.  Now truth be told both parties cater to the wealthy donor class and largely ignore the regular voter.
But the hypocrisy of using God to promote yourself while not following his Word ticks me off more than anything else.  Read your bible and you will see that what is going on is not what it teaches.

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