A question concerning economics & minimum wage

[DivinePaladin]

Why you'd come to a place as ill-informed as VGC for a topic as nuanced as minimum wage is beyond me. These people couldn't even predict Splatoon's sales, why would you trust us collectively to educate you on a topic highly debated between professional economists?

The real answer is that you're going to get a partisan answer no matter where you go; in my opinion a federal minimum of $15 is foolish because you can't blanket 7% of the world's land mass or 5% of the world's population with one requirement that sits above the federal poverty line. The federal minimum SHOULD end up around $10.50-11 simply to adjust to the rise in cost of living that has not been truly accounted for in about 40 years, and from there the states should work to further adjust it correctly. Not that that'll happen, because we're too intent on leaving people in office who have tried 50 times to repeal Obamacare solely to make a statement (even when these congressmen don't even believe that Obamacare should be repealed anymore).

The correct outcome to a higher minimum wage, even something as high as $15, would be to correctly increase wages for higher-level workers too, and this would normally not result in a huge economic downturn; it's only a recent occurrence that we've had concepts such as career CEOs who destroy companies long-term while collecting WAY too much money in salary and bonuses short-term, and where we've had this overwhelming money-now-money-first mentality to our businesses where paying aby employees outside of the very top level adequately is a sin.

But again, don't listen to me: I'm posting on VGC, that means I probably shouldn't be trusted on the subject. These are also just opinions, because the correct outcome to minimum wage increases died when we started letting corporations run our country. Now we have to increase and hope big business doesn't decide to gimp the economy or further move overseas.