https://www.washingtonpost.com/ampht...helps-workers/
When Seattle officials voted three years ago to incrementally boost the city's minimum wage up to $15 an hour, they'd hoped to improve the lives of low-income workers. Yet according to a major new study that could force economists to reassess past research on the issue, the hike has had the opposite effect.
The city is gradually increasing the hourly minimum to $15 over several years. Already, though, some employers have not been able to afford the increased minimums. They've cut their payrolls, putting off new hiring, reducing hours or letting their workers go, the study found.
The costs to low-wage workers in Seattle outweighed the benefits by a ratio of three to one, according to the study, conducted by a group of economists at the University of Washington who were commissioned by the city. The study, published as a working paper Monday by the National Bureau of Economic Research, has not yet been peer reviewed.
On the whole, the study estimates, the average low-wage worker in the city lost $125 a month because of the hike in the minimum.
The paper's conclusions contradict years of research on the minimum wage. Many past studies, by contrast, have found that the benefits of increases for low-wage workers exceed the costs in terms of reduced employment -- often by a factor of four or five to one.
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06-26-2017, 10:14 AM #1
A ‘very credible’ new study on Seattle’s $15 minimum wage has bad news for liberals
Trump 2024
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06-26-2017, 10:15 AM #2
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06-26-2017, 10:18 AM #3
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06-26-2017, 10:20 AM #4
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06-26-2017, 10:20 AM #5
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Of course it's not, because it's propaganda and the minute it gets peer reviewed it will get debunked
How the media can post a paper which hasn't been peer reviewed is beyond me, but they make their own rules now
This is how a good proportion of the world came to believe that vaccines cause autismIf I laugh, I rep
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06-26-2017, 10:27 AM #6
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06-26-2017, 10:38 AM #7
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06-26-2017, 10:39 AM #8
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"If a business can't afford it, they shouldn't be operating" -- Derpington Derpies.
What's scary is I've actually seen that touted by people both here and reddit.guys i not afriad 2 show my boobs cuz they r just boobs but i aint a slut yall so sorry i aint showing cuz i have respect for my self
Rep: 7/12/2008 @ 5:26pm = 35.
Rep: 7/12/2008 @ 5:27pm = 547.
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06-26-2017, 10:44 AM #9
Liberals just assume that businesses will be OK with this and be cool with making less profits for the greater good.
Canada just passed the hike in Minimum wage to $14 starting Jan 1 2018 and $15 in 2019. I can't wait for the outrage to start up here. I have a small business but currently our people are making more than minimum wage, but once this hits all new hires will be making close to what people who have been here for years will be making.
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06-26-2017, 10:45 AM #10
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06-26-2017, 10:47 AM #11
huge problem for morale for those long term employers ^^
Also, in my area a lot of jobs that start around $15 an hour require certifications like lift training, EMT, hell even small town police barely crack $15 an hour. Why apply for those jobs and spent your money and time on training when you can bag groceries for the same wage.6'1 - 240lbs
<HTC>
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06-26-2017, 10:48 AM #12
Why TF do you need a study to prove that forcing employers to pay double for the same labor is going to cause them to either:
A) Jack up prices
B) Reduce worker hours
C) Cut workers
D) Move towards automation
E) Close shop
Literally takes .02 seconds of logical thinking to figure that out.
I just noticed at my local CVS they jacked up everything on the $1 section 19 cents. Been noticing the same at grocery stores. That or they're reducing the packaging size."There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius
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06-26-2017, 10:52 AM #13
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06-26-2017, 10:53 AM #14
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06-26-2017, 10:54 AM #15
What i expect to happen is wages for those with jobs will rise proportionately. Further imbalances will be offset by automation and labor cuts.
In the short term i bet there is a slight jump in consumer spending and chit ... which causes the morons to go "See it's working!" and then eventually it levels out as people squander their money and businesses adjust."There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius
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06-26-2017, 10:54 AM #16
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06-26-2017, 10:56 AM #17
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06-26-2017, 10:59 AM #18
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06-26-2017, 10:59 AM #19
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06-26-2017, 11:01 AM #20
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06-26-2017, 11:01 AM #21
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06-26-2017, 11:02 AM #22
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Because past research on increasing the minimum wage has found that the increased costs are offset by the increased purchasing power resulting in no drop in employment.
A thought experiment is usually a pretty poor way to study the outcomes of economic policy.
Personally, I don't support raising the minimumw age to $15 an hour, as has also been proposed here in Ontario, but at least stick to arguing points supported by research.Make Misc Great Again
dhawkeye1980, March 3rd, 2017 at 12:44pm: Um not really most of ACA members are part of the medicaid expansion, i would imagine very little are on obamacare.
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06-26-2017, 11:04 AM #23
They would of gotten away with this moronic'ness if they hadn't raised it so high. That's how you know people running the government are idiotic and couldn't hack it in the corporate world.
The companies that produce the items you see at the grocery store know exactly how much the need to adjust their products to keep consumers from noticing/caring too much. They know from psychological studies that price increases and packaging decreases by certain percentage points keeps people from getting angry. It's basically the boiling frog analogy. However, in Seattle, they just take a flame thrower to the frog.
I bet all the people that were getting paid $15/hour before the hike got pissed."There's a fine line between salvation and drinking poison in the jungle." -Gym Jones
"The soul becomes dyed with the color of its thoughts." - Marcus Aurelius
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06-26-2017, 11:09 AM #24
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06-26-2017, 11:11 AM #25
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06-26-2017, 11:12 AM #26
Sad thing is, no other city in North America is going to learn from this.
If you're going to raise minimum wage to $15/hr, then you HAVE to give small business some tax breaks or some sort of compensation. Get rid of stat pay on holidays, bring taxes down, etc. Middle class is getting fukd up the ass by government across North America.
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06-26-2017, 11:13 AM #27
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06-26-2017, 11:19 AM #28
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06-26-2017, 11:20 AM #29
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06-26-2017, 11:21 AM #30
So Herp currently makes $9.00/HR and works 20 hours a week.
McDonalds pays him roughly $9.00 x 80 (20 hours a week x 4 weeks) = $720 a month.
Minimum wage goes up to $15.00/HR.
Herp now makes $15 x 80 = $1200 a month.
Herp is making 60% more than he currently was for the same work and same experience. Where does McDonalds make that 60%? People are going to have to start buying a chit ton more McDonalds for that to level out.
So now McDonalds says fcuk this noise, we're going to rollout some self service machines. We can get rid of 3 cashiers, while still having their job get accomplished.
Now Herp has no job.I have become death.
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