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2009 was the last increase and we saw huge job losses
You are assuming the economy will always stay the same..on an upward trajectory.
One recession and BLAMO..jobs are gone.
Forget one recession...one leap in technology that makes any unskilled job obsolete + a retarded minimum wage for those jobs = buh bye to those jobs forever.
And a lot of un/low skilled labor out there is one good invention away from being eliminated completely.
Forget one recession...one leap in technology that makes any unskilled job obsolete + a retarded minimum wage for those jobs = buh bye to those jobs forever.
And a lot of un/low skilled labor out there is one good invention away from being eliminated completely.
Only when the cost of the technology and it's depreciation value are a better ROI than physical labor costs.
The technology costs are coming down while labor costs are going up.
It just hasn't hit that "sweet spot" yet.
When big screen TV's hit that "sweet spot" every Tom, Dick and Harry stampeded to Wallymart for one.
The last time that the federal minimum wage was raised as much as the current proposals would suggest was 1968. The unemployment rate went up by over 2% in the next 3 years, from 3.6% to 5.9%. That's a bit higher than normal fluctuations.
ETA: The minimum wage then took a large jump in 1974. The unemployment rate went from 5.6% to 8.5% in 1975.
1981, a fairly good jump. 1982 unemployment went from 7.6% to 9.7%.
And what was going on in 1974 and 1982? Here is a clue, it had nothing to do with minimum wage.
Only when the cost of the technology and it's depreciation value are a better ROI than physical labor costs.
The technology costs are coming down while labor costs are going up.
And let the federal government do what Seattle is stupid enough to do....and all you do is accelerate the speed at which technology ROI exceeds the value of the human worker.
And let the federal government do what Seattle is stupid enough to do....and all you do is accelerate the speed at which technology ROI exceeds the value of the human worker.
Exactly. They are digging their own graves and don't even know it.
Exactly. They are digging their own graves and don't even know it.
False, technology will continue to advance regardless how much minimum wage workers are paid. And if anything, technology is used to replace higher paid workers more than minimum wage workers.
So you think we shouldn't raise the minimum wage in fear of the next recession created by people who make well over minimum wage?
Just forget it..the entire post was totally lost on you. Others got it.
FWIW the recession started in 2007 and the market crashed in 2008.
Min wage was last raised in 2009.
How you can state that it caused the recession is totally beyond me. But you did.
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