Sorry... a $15 minimum wage is too high

[eniwetok]

61. then why not $20?

Sure... I think it's insane that we have a system where we subsidize MW workers with benefits instead of them letting them earn more... and if we went back to $10.90ish that would mean $7300 more a year. That's not exactly peanuts. To move back to $10.90 means it will cover everyone from $7.25 to $10.90... and that alone will cover 10s of millions of workers.

We know the high MW of 1968 didn't cause disruptions to the economy even if was gradually going up in real value since about 1950. But that economy was different then. We had higher taxes on the rich. We've foolishly allowed the economy to become addicted to a depreciating MW and we foolishly sabotaged our industrial base with free trade. This is an escape hatch for US companies that needs to be closed... a and we need to putt tariffs back on imported goods. When we sabotaged our economy's ability to absorb those who will lose their jobs if the MW is too high.

My point is raising the MW even back to its 1968 value will require undoing much of the neolib insanity that has devastated our economy the past 35 years. To try and go further to $15... essentially doubling the current MW, isn't a free lunch as some seem to think it is.