Posted on 06/26/2017 2:22:31 PM PDT by grundle
When Seattle officials voted three years ago to incrementally boost the city's minimum wage up to $15 an hour, they'd hoped to improve the lives of low-income workers. Yet according to a major new study that could force economists to reassess past research on the issue, the hike has had the opposite effect.
The city is gradually increasing the hourly minimum to $15 over several years. Already, though, some employers have not been able to afford the increased minimums. They've cut their payrolls, putting off new hiring, reducing hours or letting their workers go, the study found.
The costs to low-wage workers in Seattle outweighed the benefits by a ratio of three to one, according to the study, conducted by a group of economists at the University of Washington who were commissioned by the city. The study, published as a working paper Monday by the National Bureau of Economic Research, has not yet been peer reviewed.
On the whole, the study estimates, the average low-wage worker in the city lost $125 a month because of the hike in the minimum.
(Excerpt) Read more at washingtonpost.com ...
The ignorance of some of the commenters is breathtaking.
They are truly brainwashed communists......................
Effin stupid, insane LIEberals never learn. Facts mean nothing to these hacks. Economic morons of the lowest order.
What happened to that gay mayor there who had all those men coming forward to say he molested them when they were minors? Did he resign yet? I thought I read at last count it was 6 that had come forward, and they were all minors when he did it?
They paid UW for research Thomas Sowell and others did for free a long, long time ago.
You cannot imagine how delighted I was to see your post!
I have been using the “LIEberal” spelling for our LIEberal enemies for at least two years!
Yours is the first post I have seen using the word LIEberal to describe the incredible insanity that those of the LIEberal persuasion are afflicted with.
I don’t know if they are born that way or take pills for it, but in any event, they have damn near ruined Western Civilization!
I thank God EVERY DAY that we were smart enough to elect Donald Trump POTUS! Let us help him Make America Great Again!
In your honor, I’ll be delighted to repeat your post:
“Effin stupid, insane LIEberals never learn. Facts mean nothing to these hacks. Economic morons of the lowest order.”
Not a single one of the legislatures who passed this bill lost THEIR job.....
... “force economists to reassess past research on the issue” ?
Baloney.
Economic theory has always said it would reduce employment compared to what it otherwise would have been.
bkmk
These libtards are stuck on stupid
“LIEberals never learn.”
No, they know FULL WELL. At least the ones in charge.
That’s how evil they are. It’s time to finally put an end to their crap and drive them out of politics, COMPLETELY.
A couple more justices on the Court, and then we can start taking the BIG CASES there, like the Constitutionality of federal minimum wage laws in the first (and maybe state minimum wage laws too, as they amount to a ‘taking’ as they drive business owners bankrupt).
Now the newly unemployed will join the many homeless and street beggars in Seattle. But their collection cups will be required to say “paper money only”.
Well ... DUH!
Cook County, Illinois is doing the same thing, and requiring 5 days of paid sick leave as well. I’m sure the Cook Country Democrats are convinced that they will do it right, so the results will be different.
The liberals love Seattle except for one thing.
They think there are too many cars there.
So, how do liberals make cars leave their city?
No jobs.
Raising the minimum wage does exactly what the progressives want. They want to create a non-working, non-productive underclass who are totally dependent on government handouts, vote Democrat, and have no escape.
The campaign of “White Privilege” is designed to give these people someone to blame for their economic bondage.
But, another Freeper posted last year that minimum wages institute a modern debtors prison for those who are unable to produce above the minimum wage.
You are partly right in that they don't really care, but I think this is close to a win-win situation for the Dims. The loss of jobs puts more people in difficulty, dependent of government support and into voting for Democrats.
The Dims get to claim they are only trying help poor working folks by raising the minimum wage and the evil capitalists reacted by taking away the jobs. Which isn't far from the truth except that it was not capitalists that put them out of work but a simple economic reality. - Beyond the grasp of most of the poor folks put out of a job.
Larger employers make minimum wage increases work to their benefit... The large wage attracts foreign workers and larger employers can afford to provide the foreign workers with housing, that they in turn charge the workers for directly out of the pay checks and they thereby recoup funds paid out to those foreign workers. The workers are reliable because any effort to cause trouble or make waves will result in deportation back to their home countries. These workers who usually have no English speaking skills are content to work, watch a communal television, use a communal bathing area, sleep and then return to work the next day. Their main goal is to provide a very comfortable life for their families back home, where earning two or three hundred dollars a month is equivalent to being in the middle class in America.
So $15 per hour and lets say they’re only doing a 40 hour work week (many of them do more than 40 hours), that’s 600 per week. So $5 per hour (directly out of their pay) goes to housing cost, leaving $400. If they work in a restaurant (and most of them do) they get a discount on your meals and they always eat at work... So lets say it’s $15 per day for food cost of a 7 day period... Leaving you with $243 per week. Do foreign workers need to pay the same taxes and payroll deductions as other workers? If so then that cuts down that $243 by a bit, but even if they only send $100 per week back to their family, that’s 4 or 5 times more per week than they would make doing the same job back home.
So if your an employer and you pay a worker $15 per hour and you recoup $4 or $5 dollars an hour to provide a living space for your employee, then you’re actually only paying out $10 or $11 dollars per hour and your employee is reliable, on time and dedicated to working for you for the long term. Hiring a local employee will cost you more money and they are unreliable. The turn over is constant.. As soon as they find a better paying job, they’re gone.
So who benefits from an increased minimum wage? Guess who? And it isn’t workers who make minimum wage, because those jobs are going to foreign workers at a faster rate than any other type of job out there.
They are idiot PROG/LIBS, their only response to you would be “what is this thing you call common sense”?
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