Talkin’ Bout Min Wages
Jun 08, 2012 at 12:39 pm
Over at MSNBC online. Glad to see this issue getting some buzz.
2 Responses to “Talkin’ Bout Min Wages”
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About
Jared Bernstein’s areas of expertise include federal and state economic and fiscal policies, income inequality and mobility, trends in employment and earnings, international comparisons, and the analysis of financial and housing markets.
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raising minimum wage was what i advocated in lieu of the buffett rule; dealing with inequality, as you mentioned, is but one benefit…higher paid workers would also contribute to federal state, & local revenues, social security and medicare; in addition, “once everyone is working at a decent wage, young people will be able to move out of their parent’s basements, and those who’ve doubled up will again be in the market for housing, which will ultimately put a floor under falling real estate prices, and may even save the banks from having to mark those depressed loan assets to market…”
The minimum wage destroys jobs. Specifically, it destroys those jobs sucking in the illegals. Increasing the minimum wage would increase the supply of legal labor–reducing the demand for illegal labor.