General Discussion
In reply to the discussion: Sorry... a $15 minimum wage is too high [View all]eniwetok
(1,629 posts)I have no problem going higher than $11... I only use that number because it WAS the highest historical minimum we've ever had and BEA and BLS numbers show it caused no unemployment nor inflation.
But the last time we continually raised the MW's real purchasing power was between 1950 and 1968 we had a protectionist and unionized economy. We need to reestablish that so corporations can't bolt the US market to escape MW laws.
I also worry about shocking the economy that's grown addicted to a depreciating MW. If the MW had simply been adjusted to inflation all these years and the MW increased in real value as it did from 1950 to 1968... it might have been at $12-14 by now. Employers would have adjusted to that. Instead they've adjusted to stealing more and more of a worker's wages. This dynamic can't be negated with the wave of a magic wand. But if magic wands are your thing... feel free to wave it.