Members banned from this thread: Pragmatist
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1) I don't know why fast food and Big Macs are used as the basis for determining the effect of minimum wages. Why not, oh, I dunno, cigarettes and porn magazines? Why does McDonalds, of all companies, deserve this free advertising in economic debates?
2) It could be and probably is the case that the effects of high minimum wages are going to be different in booming economies than in stagnant or recessionary ones.
3) One-size-fits-all economic policies do not affect thriving urban areas the same way they affect depressed rural areas, so why should they be imposed on local areas where the effects are not as helpful? Or is there some evidence that the effect is similarly benign or positive in poorer rural areas as it is in thriving urban areas? If so, please offer said evidence.
The cost of houses depends, like most things, on supply and demand.
Buy a house in, say, Fresno California, and you'll pay a lot less than the same one in Palo Alto, for example, and it's based on supply and demand, not on the minimum wage in those two towns.
It's called "capitalism." It works.
Payroll taxes aren't taxes, as the payer expects something back.
So, school taxes aren't taxes if you have or may one day have school age children.
Gasoline taxes aren't taxes, as you get to drive on the highways.
Somehow, I'd never thought of it that way.
While I am not against minimum wage increases, I do think we have to realize a few other things. First, if one has ever traveled abroad, most fast food workers elsewhere are "kids" not older adults. Other countries have vast training programs so older adults aren't relegated to work fast food. They are re-trained for other jobs at higher pay. Here we don't have that. If you are in your 40s and lose your job, its possible you could end up working fast food if you don't have marketable skills. So that makes a huge issue. Secondly, many retail/fast food jobs are becoming more and more automated. So the numbers of available jobs in these sectors is going to go down. All our local fast food chains have kiosks now for ordering and have gotten rid of at least 50% of their old headcounts. I think it just might be more beneficial in the long run to spend the money on training programs so adults with families have better opportunities to make a living. Leave fast food/retail to the under 25s where it belongs.
Actually though Social Security was originally the "federal Old-Age, Survivors, and Disability Insurance (OASDI) program", and my social security card says on it "social security account number", as if my money was being put away for my later use. Obviously things have morphed a bit.