bdarb207All for it if you can explain to me how this doesn't increase COL dramatically and still keep disenfranchised people from holding a job.
Anyone interested in hearing a solid opinion on how raising the minimum wage actually hurts people, listen to Ari Shaffirs Skeptic Tank with Dave Smith (ep. 303).
See my post above.
It doesn't discuss the disenfranchised part, but it does discuss the COL issue you brought up.
And sorry, but I have a tough time listening to two comedians discussing economic policy. And I hate praxeology which these two seem to be pretty fond of. Using praxeology as a foundation for any economic argument, especially one like this one, is absurd.
So much of it is wrong.
They say ~95% (it's more like 97.3%) of all workers are paid above minimum wage. Great, that's the federal minimum wage. That's $7.25 per hour. $7.25/hr is not getting you very far in a metropolis, hell even many suburbs.
Then, they talk about how the minimum wage pushes out people with inadequate skills and "do not deserve a higher wage". The fact of the matter is, the minimum wage was designed EXACTLY to protect those people. Someone who only has the skills for a $3 job can't survive on that.
These two knuckleheads would then argue they need to get more experience. I'm sorry but how is one going to get more experience when they're likely juggling multiple jobs just to survive?
That's the crux of the argument for raising the minimum wage today. You want people to gain more experience? Find a way for them to have more free time to do so. Those who need the experience can't find the time because they're the ones holding 1, 2, or even 3 jobs just to make a survivable salary.