Reply #28: And what is wrong with that?

[dcfirefighter]

If demand for goods and services is high enough, the legislated minimum wages would be irrelevant, as they are now.

And, taxing the income recieved from interest (but not rent, economist definitions) reduces the demand for goods and services.

With a solid social safety net, would your rather work for $5/h more or be out of work altogehter? I'd prefer the former, esp. if I had a ready choice of $5/h jobs to choose from.

Regardless, jurisdictions don't generally raise their minimum wages much above the prevailing minimum wage. I'd like to see some 'company town' raise it's minimum wages above what the company was paying. The company would leave, and no one would come to take their place.

Conversely, if a company town raised it's property tax on land to 70% of the rental value, the existing company might leave, but another company would jump in.