Minimum wage workers in Seattle are likely in for a nasty surprise. They may actually see their take home pay shrink due to higher taxes and may lose all the “benefits” like free school lunches for their kids, Medicaid eligibility, earned income tax credits etc. they currently enjoy as a result of their low wage.
I think a good MBA thesis would be to answer where minimum wage workers spend their money. If they mostly spend it at location that have other minimum wage workers, where prices have had to increase due to the minimum wage increase, there is a diminishing return for their increased wages.
Do MBA students do a thesis?
Will they build a wall around Seattle to keep people from leaving ?
When I was a kid, I worked 10 hrs. per day in the fields at 50¢ per hour. At no point did I ever consider making a career out of it.
I think Seattle should raise the minimum wage for all jobs inside the city limits to $1000 an hour. Then everyone could be rich, right? Stupid is as stupid does.
Here’s hoping Seattle shows us the future of such a wage increase before the government forces such insanity on the whole US.