House votes to raise minimum wage, uniting Dems after months-long struggle

homeagain wrote: WHY do you think there are boomerang adults moving back in with their parents?

Probably doesn't have anything to with our government that continues to incentivized the population to be dependent on other people. Would you like some examples?

Rick wrote: It amazes me every time I listen to this stupid argument.

The stupid argument that people with lower incomes spend marginal increases in income, thereby juicing up the local economy?

Brandon wrote:

Rick wrote: It amazes me every time I listen to this stupid argument.

The stupid argument that people with lower incomes spend marginal increases in income, thereby juicing up the local economy?

You're conveniently leaving the employers out of that equation, but I do understand that liberals like yourself would prefer low skilled workers be dependent on the government in order to keep a dependent and loyal voter base. Forcing a $15 min wage on every business across the country would cause a whole lot of unemployment which would be great for Democrats.

Once again, you're not addressing me so much as you're addressing the strange alternate reality that a couple of decades worth of right-wing propaganda has created for you.

To say that "a whole lot of unemployment" would result seems pretty simplistic. You're assuming uniformly elastic demand curves for goods and services, a high and uniform ability to substitute capital for labor, and a compartmentalized economy where increased incomes do not cause increased purchases across the board.

Wall Street Journal just had an article today about how NYC's $15 an hour is hurting small businesses there. And forcing them to cut hours and layoff people. Just simple economics, if you raise the cost of doing business and your company is a price taker. Profits will fall, or you will have to cut the costs of your inputs. Labor is one of the easiest ones to control.

FredHayek wrote: Wall Street Journal just had an article today about how NYC's $15 an hour is hurting small businesses there. And forcing them to cut hours and layoff people. Just simple economics, if you raise the cost of doing business and your company is a price taker. Profits will fall, or you will have to cut the costs of your inputs. Labor is one of the easiest ones to control.

bolded.....newsflash, business have been doing THAT little trick all along, so they do not have to
provide ins. benefits, etc.

Can't read more than the first paragraph of the article without a subscription, but there's a contradiction between it and your post. You say the firms are price takers, the article says that raising prices is an option for the firms.