$15 an hour? Too low! Make it $20 an hour

[billydaman]

Originally Posted by ContrarianEcon

About 20% or so across the board higher costs, for about a 200% higher minimum wage. Not a bad trade off.

Sorry guy, its not 200%.

[greywar]

Originally Posted by ContrarianEcon

The time to do something about it is if those machines start to replace people. If it doesn't happen then why bother.

Agreed. I think discussing it ahead of time has some merit, but implementation? Like you I think that requires us to have to react to something like a large scale replacement of people with machines such that structural unemployment becomes a major thing.

[ContrarianEcon]

Originally Posted by billydaman

Sorry guy, its not 200%.

$16 is not 200% of $7.25.

Or about 170% higher when adjusted for our FX rate.

[urbanlife78]

Originally Posted by chicagogeorge

No I do understand. I already stated that 2009 should not be a baseline year. The starting point when a gradual increase in the minimum wage should begin when the legislation is enacted.




2016 4%
2017 8.16%
2018 12.48%
2019 16.98%
2020 21.66%
2021 26.5%
2022 31.5%
2023 36.8%
2024 42.3%
2025 48.02%
2026 53.94%

Oh... A 54% increase in the minimum wage by 2026 is rationale.

And that is how it would go if it were to raise the minimum wage to $15/hr.

[Stizzel]

Originally Posted by ContrarianEcon

About 20% or so across the board higher costs, for about a 200% higher minimum wage. Not a bad trade off.

Lets also not forget that Australia has true universal healthcare, extremely low school tuition, paid maternity leave, 4 weeks of paid vacation for all employees, higher social mobility, and continuously rank higher in happiness than the US. As well, Australia faired much better than the US did during the global recession.

The only bad thing about Australia is that just about every insect and animal can kill you.

And if any one states if you like Australia soo much why don't you move there......by all means, point me in the right direction to help me establish permanent residency there. If the republicans take control of all three branches of govt, ill even swim by myself to Australia.

[ContrarianEcon]

Originally Posted by Stizzel

... If the republicans take control of all three branches of govt, ill even swim by myself to Australia.

Mint I suggest a raft of some kind? Or possibly a plane ticket? Swimming is not recommended. It is rather far.