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Nationwide wage hikes would lead to price hikes.
That argument has been made before the minimum wage went into effect and before each increase...and it has never panned out.
Nationwide wage hikes would lead to price hikes.
You're using one city to determine the validity of an economic policy?
I would suggest taking an economics 101 course.
http://www.sandiegouniontribune.com...n-minimum-wage-job-losses-20170611-story.html
Meanwhile in San Diego, Rent, Ultities, and Homelessness are all skyrocketing with the full 'fight' for $15 yet to have taken place. Doesn't help that left wing environmental wackos are also hurting the cities ability to build new housing
Can anyone name a time when wages were increased nationwide that it caused economic catastrophe
Common sense. Nationwide the price of creating and delivering goods would increase, so would the cost to the consumer.Can you explain how you have come to this conclusion?
No, because generally they are done more conservatively. 50 cents here, 25 cents there. Not a sudden increase of 50%.Can anyone name a time when wages were increased nationwide that it caused economic catastrophe
Common sense. Nationwide the price of creating and delivering goods would increase, so would the cost to the consumer.
https://www.fastcompany.com/3059118...s-new-minimum-wage-hasnt-raised-retail-prices
Guess we'll have to add a living wage to the list of things that would kill Business that didn't.
Seattle has an unemployment rate of 3%, down from 8% five years ago. It's not clear this hurt employment at all.Price increases are just one of ways businesses can compensate. Single variable analysis is a gross oversimplification. You should ask yourself what the effect was on employment before you gloat.
You're using one city to determine the validity of an economic policy?
I would suggest taking an economics 101 course.
Minimum wage is inflationary
January 2018. I thought we're still in 2017. Wait til 2018 when the wage is at 15 an hour and we'll talk. I was actually in Seatle recently and things there are crazy expensive.
They also don't have an income tax. SF minimum wage will be 15 an hour also but with income tax. I've seen the prices and Seatle prices are comparable to SF prices but Seattle again doesn't have income taxes. So Seattle makes more money than SF employees do but Seattle housing is much cheaper than SF. Other than housing, everything else is practically the same price as SF.
January 2018. I thought we're still in 2017. Wait til 2018 when the wage is at 15 an hour and we'll talk. I was actually in Seatle recently and things there are crazy expensive.
They also don't have an income tax. SF minimum wage will be 15 an hour also but with income tax. I've seen the prices and Seatle prices are comparable to SF prices but Seattle again doesn't have income taxes. So Seattle makes more money than SF employees do but Seattle housing is much cheaper than SF. Other than housing, everything else is practically the same price as SF.
real estate is no where near SF prices.. prices are skyrocketing though.. lot of foreign investments paying straight cash