I don't expect you to get this. You are still working on racism, but---
The benefits of a federal minimum wage of $15.
| I have given a lot of thought to this. You have to think in terms of social ecology i.e. consider all the moving variables e.g. robotization, global trade, income inequality, plutocratic power that needs to be mitigated, destruction of unions and workers power, 60 years of application of bogus supply-side economics, limits of growth, and wealth of the nation and the damage income inequality and poverty to do a society.
If you instill a categorical $15 minimum wage across this country there is no way that is going to drive us into a depression. That is a silly idea as it will be a stimulus and do just the opposite.. A $15 minimum wage across the country would add tremendous spending power to those that spend their money, the poor. Econ 101. This would stimulate the economy dramatically, which would allow for new businesses to pop up.
Yes there will be some adjustments e.g. businesses that are making a profit on the backs of slave labor will go out of business. But all in all, capitalism will readjust itself and it would be a huge step towards mitigating income inequality.
Obama was present for eight years yet he could not get a handle on this problem, but a minimum wage could be a start. The nice thing about a minimum wage is that we have the votes in the country to get it passed and it would be a huge first step in reversing income inequality by income redistribution which we need.
Lastly, if you read Joseph Stiglitz books on income inequality he spells out there how bad that is for society. It is like a cancer and all you have to do is look around and see how much misery has increased over the last 40 years since Reagan got in and started busting the unions and transferring power to his plutocratic friends.
Followed by Clinton to some degree and then Bush and now Trump.
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