[extropy-chat] Seven cents an hour? (was: Riots in France)

[John K Clark]

"Gary Miller" <aiguy at comcast.net>

> If the government raised the minimum wage gradually to above the poverty
> level, say $9.00/hr maybe, then companies like Walmart would not be able
> to take advantage of government subsidies because their employees would
> not qualify for them.

That's true, it's also true that Wal-Mart would hire fewer people so there
would be more people making ZERO dollars an hour and so would be getting
even more government handouts. And consumers would have to pay more for
things but despite this Wal-Mart would make less money. Sounds like pretty
poor economic policy to me.

> If the economy can weather a 33% hike in energy costs in less than a year
> we should be able to weather a gradual increase in mimimum wage.

They've increased the minimum wage before and we've survived and we'll
likely survive if they do it again, but each time they do so they slow the
economy, put more people out of work and increase poverty.

   John K Clark