Quote:
Originally Posted by sperbonzo
If you make the minimum wage $20 per hour, then those unskilled workers are now competing with skilled workers for those jobs, and will become the permanently unemployed.... OR you will have a jump in prices and the people making minimum wage will be in the same hole again.
The trick is to gain skills and experience such that you become worth more than minimum wage.
By your logic, lets just make the minimum wage $100 per hour. Then everyone will be making $200k per year and we will all have plenty. There shouldn't be any problem with that.... right?
.  
(p.s. FYI, spending money does not drive an economy upward, it simply circulates things around. Wealth and value is created and increased by the creation of new products and services that people value, and increasing productivity of the production of existing products and services. Those people that increase the wealth of a society in a very large way mostly become wealthy themselves.)
. |
This will amaze you but if the min wage goes to 20 dollars , all other wages go up. That's the bottom legal wage. Wages have been flat for 30 yrs. They almost doubled it during Truman and the country did well, imagine that.