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"No one found significant employment losses when President Truman raised the minimum wage by 87% in 1950. When Congress raised the minimum wage by 28% in two steps in 1967, businesses predicted large employment losses and price increases. As the Wall Street Journal reported six months later, “Employment and prices show little effect from $1.40-an-hour guarantee.” Empirical studies even before Card and Krueger’s landmark New Jersey study found no increase in the unemployment rate for teens and young adults from a 10% rise in the minimum wage, while it was clear that higher wages were bringing housewives into the workforce."
"Card and Krueger’s findings (said) that a 19% increase in New Jersey’s minimum wage did not cause job loss. Nobel laureate Paul Krugman says the study “has stood up very well to repeated challenges, and new cases confirming its results keep coming in.” And even the most ardent conservative critics could not claim that the New Jersey increase caused statistically significant job loss. Furthermore, a groundbreaking peer-reviewed 2008 paper (that Saltsman chooses to ignore),“Minimum wage effects across state borders: Estimates using contiguous counties,” generalizes the landmark Card and Krueger study to all contiguous county-pairs in the US that straddle a border, finding no adverse employment effects of increases in the minimum wage."
"Dube carefully studied data on teen employment from 1990 to 2009 and found “that minimum wage increases—in the range that have been implemented in the United States—do not reduce employment among teens.”
I'm scanning this for entertainment since I live in the Seattle metro. Everyone has these dire predictions and honestly, who knows the result but they are phasing it in over time so they can adjust if needed. But the idea that this will attract a huge number of low income workers? Do you know the costs to rent in Seattle? Do you know the cost of real estate? Seattle is a relatively expensive city.
I know several techies that left Austin for Seattle.
Austin is the allergy capital of the world.
If you don't have any allergies when you get here you will after a while.
People move out of Austin because it can get so bad.
Oh but there were changes..McDonald's reported lower sales at their restaurants this last quarter.
And the "mother ship" does not change their royalty percentage when business slumps..guess who takes that hit..the franchise owner.
The franchise owners have already asked for a lowered royalty fee because the price of commodities are skyrocketing and were told no.
Means mcdonalds knows they still have some profit margin.
Seriously I was amazed. 12.5%? Ouch. And thats not counting all the other fee's, 45K just to start, and many many many other fees. Which is why mcdonalds makes over 2 billion per month in revenue.
I'm scanning this for entertainment since I live in the Seattle metro. Everyone has these dire predictions and honestly, who knows the result but they are phasing it in over time so they can adjust if needed. But the idea that this will attract a huge number of low income workers? Do you know the costs to rent in Seattle? Do you know the cost of real estate? Seattle is a relatively expensive city.
Good for Seattle! Keeping riff-raff down-and-out or out of town all together using economic disparity is truly a brilliant strategy that works wonders. Look @ San Francisco!
Do you know the realities of what unaffordable housing creates for those who cannot afford to live 1 or 2 to a 1BD apartment? 5-6 people or more to that 1BD apartment. Do you know why RE is so over-valued? So that banks can make more off the interest and governments can reap higher taxes and developers can be profitable. Lastly, citizens can glow in pride at the estimated value of their home while keeping the riff-raff out economically and feel safe.
Good for Seattle! Keeping riff-raff down-and-out or out of town all together using economic disparity is truly a brilliant strategy that works wonders. Look @ San Francisco!
Do you know the realities of what unaffordable housing creates for those who cannot afford to live 1 or 2 to a 1BD apartment? 5-6 people or more to that 1BD apartment. Do you know why RE is so over-valued? So that banks can make more off the interest and governments can reap higher taxes and developers can be profitable. Lastly, citizens can glow in pride at the estimated value of their home while keeping the riff-raff out economically and feel safe.
This system is surely a laugh riot alright.
If you want to live in Seattle, you have to be able to afford it. Plain and simple. If you can't afford it, there are other places with much much longer commute times. You can commute to Seattle for that $15. per hour job, but if you're living in Maple Valley, it's going to take you a couple of hours each way. Still want that $15. per hour job? Does it still make economic sense?
The reality is, because Seattle is already expensive, the impact of this wage increase may be pretty small, considering it will be phased in over time. Those that can afford to live there probably already do, and those that don't and want to move there will probably need to make a lot more that to get started.
True, the ones doing well have at least 3-4. Those with only one are struggling. The experiment that is Seatac is too small a a sample to tell what could happen in Seattle, but I do know that people working in hotels there getting $15 are coming out with less. Their employers have cut benefits such as free parking, food, and overtime.
Hotels have already done that, it was called the recession. I know, I worked in the hotel industry through the recession.
I know several techies that left Austin for Seattle.
Austin is the allergy capital of the world.
If you don't have any allergies when you get here you will after a while.
People move out of Austin because it can get so bad.
That is because Seattle is lush and green with fresh air and lots of water for plant life to grow.
Who else works FF or low-skilled hospitality/maintenance employments in urban centers but undocumented workers?
Everyone at the mcdonalds i just returned from speaks english without an accent. Im pretty sure theyre not even immigrants.
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