THIS is why you can't have $15/hr.....

We've already seen what happens , people get fired. You realize there is just as much evidence showing that job loss would happen. A raise from 7 to 15 or even 7 to 10 dollars isn't a 10% increase.

It's like inflation just wouldn't happen. Like somehow the US dollar would magically be increased in value with no effects. Wow, just wow. https://www.cbo.gov/publication/44995

So yea maybe a basic economics 101 class would help you. You know college. A place where people learn skills to do jobs that require skills that actually pay money. Yea we should pay people top dollar for jobs that require NO skill - brilliant.

Maybe we can draw this in crayon for you to get it.

You point to things that you pick out but fail to read the whole articles, especially then they contains things like,

"...Economists disagree as to the measurable impact of minimum wages in the 'real world'. This disagreement usually takes the form of competing empirical tests of the elasticities of supply and demand in labor markets and the degree to which markets differ from the efficiency that models of perfect competition predict."

Should I explain what that means or do you understand it yourself? It means there isn't a definitive answer showing one way or the other. Inflation though is real. Will the people who are at the bottom still buy reasonable lower priced items or will they not buy higher luxury type items? When business raise the prices to recoup costs, who is paying for it?

If I gave you 5 dollars and you spend 3 on a "x" product what do you have left? 2 right? If you now have 8 dollars and the "x" product now costs 5 what do you have left? 3 right? So you have an extra dollar, great! But the issue is that the other people never got a raise too, the people who are making over minimum wage. So do they pay the original price? No they pay the new price too and it costs them more. So will be get more of it or less. (hint: less). So that business will lose out more. We seen this during times of recession - this isn't a new thing. So in the end you are hurting more people than saving. So with that we know the following:

Among those paid by the hour, 1.6 million earned exactly the prevailing federal minimum wage of $7.25 per hour. About 2.0 million had wages below the federal minimum. Together, these 3.6 million workers with wages at or below the federal minimum made up 4.7 percent of all hourly paid workers.

So who is gaining and hurting from this?

It's called looking at the big picture. You'll understand one day when you get that education.

/r/funny Thread Parent Link - imgur.com