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I would almost bet that the minimum wage actually increases under Trump. The repubs could offer it as a concession in order to get the votes required in the Senate to get major legislation passed.
I'm good with the two primary parties working the wage thing out between themselves and without the interference of an ignorant bureaucrat.
I'm good with that only if landlord and tenant get to work the housing thing out between themselves and without the interference of an ignorant government bureaucrat.
Unfortunately, NIMBY-minded protectionist homeowners would never allow such a thing.
Minimum wage protests are a result of housing overregulation which causes The Rent Is Too High.
Where are you getting the stats on Seattle's unemployment rate for low skill workers?
(Or better yet, population stats for low skill workers, to show they are not leaving Seattle instead of higher skill workers coming in.)
Also, it is not my mental gymnastics. That's directly from the UW study I linked to earlier.
Quoting from page 31 of that study:
"This increase in both business closures and business openings perhaps should not come as a
surprise. A higher minimum wage changes the type of business that can succeed profitably in
Seattle, and we should thus expect some extra churning. Our results are consistent with those of
Aaronson, French, and Sorkin (2016), who conclude that minimum wage laws prompt increases in
both entries and exits (particularly in chains), with closures coming from more labor intensive
industries and establishments, and more openings occurring in more capital intensive industries."
and on page 33:
"Further, while
these low-wage workers increased their likelihood of being employed relative to prior years, this
increase was less than in comparison regions. We estimate that the impact of the Ordinance was a 1.1 percentage point decrease in likelihood of low-wage Seattle workers remaining employed.
While these low-wage workers increased their quarterly earnings relative to prior years, the
estimated impact of the Ordinance on earnings is small and sensitive to the choice of comparison
region. Finally, for those who kept their job, the Ordinance appears to have improved wages
and earnings, but decreased their likelihood of being employed in Seattle relative other parts of
the state of Washington."
Adults who earn a minimum wage expect job losses to be absorbed by others, e.g. less-experienced teens. And that appears to be happening, as the proportion of 25-and-over minimum wage workers has increased all the way to 48.5% in 2012, while teen unemployment has soared.
We have one example of a doubling or near doubling of the minimum wage. In 1950, it was almost doubled and unemployment plummeted. The scare mongering was epic back then as well, just as now, about massive unemployment as a result of the sharp minimum wage hike. Didnt happen. Then we have effective minimum wages in other countries, in fast food places in Denmark where McDonalds pay $17 an hour plus benefits 99% of the American workers can only dream of. Similarly, effective minimum wages are also high in a number of other developed countries. What all these countries have in common is that the doom and gloom about massive unemployment as a result of these effective living wages for low skilled work doesnt come to fruition.
Not massive unemployment. Minimum wage workers are such a small percentage of the work force that even if every single one of them lost their job it would be only a small blip in unemployment. (See the point above from freemkt about how unemployment has soared dramatically among teen workers while dropping overall.)
Instead, massive displacement of low wage workers with new low wage workers and replacement of labor intensive workplaces with capital intensive workplaces. The end result is not that minimum wage workers lose their jobs. Instead, they lose their industry mobility and are unable to advance their careers or move on to higher paying employment because those opportunities are absorbed by those with more skills and experience who are now at the same wage floor.
Neither your assertion nor your link contradicts that point.
I'm good with that only if landlord and tenant get to work the housing thing out between themselves and without the interference of an ignorant government bureaucrat.
Unfortunately, NIMBY-minded protectionist homeowners would never allow such a thing.
Minimum wage protests are a result of housing overregulation which causes The Rent Is Too High.
I thought you supported rent control?
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