Is Anyone Telling the Truth About the Minimum Wage?


Let’s go to the phones at (617) 830-4750 starting
today with our color from the six one five area code. Who’s calling today from six one five. Hi David, this is Jack and I know this is a national area club. I’m currently on vacation and Connecticut
visiting family. Oh, all right, well I’ll Connecticut do treating
you well. Yeah. Thank you for taking my call. Um, so I had a couple of questions. I’ll, I’ll make them as brief as I can. Um, so you talked a lot out of $15 minimum
wage and that is one of, I think the top priorities. They think the next president should a democratic
elected enact, um, uh, in Congress and in the old law office. So, but I see a lot of conflicting studies
like studies and say, oh, it’s good for the worker, does not reduce hours, is not significantly
sit na Daf, sorry, significantly reduce employment, but diocese last days saying the exact opposite. But the one thing I observed about those days
that say it’s bad for the worker bad for entry level workers is that they are, um, funded
by the restaurant industry. But if you point that out to them, the rebuttal
is, oh, but your studies are funded by labor unions. So how do you determine whether a study is
actually unbiased and factual and there’s not a conflict of interest skewing? There almost always will be some potential
conflict or bias in almost any study. The question is to figure out, uh, is there
a particular way in which it is influencing the results? And with something like the minimum wage,
you can basically get whatever results you want. My view tends to be in looking at what I would
consider to be the most sort of disconnected from biased funding academic type studies,
but I am seeing is that the, there is an effect on hours and employment to a higher minimum
wage depending on how much the minimum wage is increasing beyond it’s status quo. So in a state, yeah, date with a cost of living and a lower minimum wage like Arkansas going
from, you know, eight to $15 is going to have a much bigger impact than it is in a state
where the minimum wage is already, for example, $11 and 15 arguably may not even be a living
wage still. So there is, that’s the issue that it’s a
very regionalized effect that you need to be looking much more specifically. And just because there is some negative impact
to a policy, that doesn’t mean it’s a policy we shouldn’t do. Think about how many policies we enact all
the time that have some costs, but we determine the benefits outweigh the costs, if that makes
sense. Jack. That makes absolute sense. And that was what I was reading on, um, the
economic policy institute where they were saying that that, oh, like the, there might
be very, very small, um, cost to it, but the benefits far outweigh it. But then, um, the reason I was asking that
is because I saw this very interesting old um, segment that Kyle Kalinsky did back in
2013. I came across it recently where Chris Hayes
was talking about how there was a, uh, this group called the Employment Policies Institute
that sounded, you know, academic and serious, but really they were just a PR for them, for
the restaurant lobbying industry. And he brought on the sky. Have you heard of this guy named Michael Saltzman? No. Yeah, he writes lob op-eds. I’m saying old memo age is terrible and all
the things you hear will kill jobs. Well, that’s the main point you make. Um, but Chris Hayes is like, um, the studies
you’re siding are bought and paid for by the restaurant lobbying industry. And Kyle was, Kyle said in his segment like,
well that’s what they do. They, they pay for fake studies to get the
results that they want and then they have so that they have a fake intellectual life
to stand on so that they say, well, we would love to raise the minimum wage and contract
profits, but we have this day that says it’s a bad idea. So sorry. Okay. Yes they do. [inaudible] all right, Jack, thank you so
much. Appreciate the call. I’ve got a bunch of people waiting, but I
do hope to hear from you again.




Comments
  1. As far as the studies on minimum-wage, I don’t look at studies I look at what’s happening! Prices are going up on everything the wages are Staying the same! It only makes sense the wages go up with everything else!

  2. $15 is doubling minimum wage at once, that's a hard sell
    Try compromising at $10 and work up to 15 in a few years.
    10 is a hell of alot better than 7/hr

  3. 15 dollars should the minimum wage for illegal workers 25_ 30 dollar's for minimum wage for citizens of the USA for the richest country in the world it's a no brainer

  4. If we are going to do a "living wage"….$15.00 and hour is not even close in some places in calif. The minimum wage should coincide with the cost of living of that area. Some Teachers here cant afford to live here and commuting is rough if not impossible around here which = a shortage of teachers.

  5. youtube played an advertisements audio over this clip when i clicked. i made sure it wasn’t another app so i had to close and reopen the clip to watch. when i skipped the ad the audio just didn’t stop. that’s a glitch that’s never happened on my phone? thought i’d mention it bc of youtube’s problem with unsubscribing your viewers

  6. What I think some people forget is that the $15 min wage is ONE step; combined with the elimination, or reduction of private health insurance, stronger and more unions, investing in infrastructure and alternative energy to generate more jobs, etc there's money to be made for the average worker and their respective state.

  7. Our problem is (like in most progressive proposals) the answer is nuanced, is not as marketable as just “fight for 15”. While 15 might not even be a living wage in some parts of the country, 15 is also incredibly disruptive in many rural areas. We need to update the minimum wage in a case by case basis and then tie it not only to inflation but to a comprehensive formula that also takes into account revenue, profits, size and age of the company among other factors. The IRS already has all of the needed data.

  8. The only thing I have to say about the minimum wage is this: in my lifetime, only recently has abject greed so completely corrupted the American people that they don't feel at all guilty for paying insulting, anti-poverty wages to their employees. Not long ago, we had some pride. If I, for example, owned a business in which my financial success depended on causing my employees to suffer, I wouldn't be able to face myself.
    As my business went along, if I couldn't give my employees a respectful wage and a respectful share of the value they created working for me, then by God I'd suffer alongside them. Until all of us together either prospered or failed.
    That seems simply ordinary to me. Nothing special. Simple decency.
    Today, that fairness is gone forever.
    Those that hold access to the mode of production and to capital openly treat their employees as barely-tolerated necessities of profitmaking.
    Not as human beings.
    So much for patriotism, right? Patriotism is all well and good, except when the owners of business and business investors and shareholders want what they want.
    We live in a state of undeclared economic and class warfare, and this nation has become a matter of predator and prey– nothing more, nothing less.

  9. I simply do not see corporations paying increased wages without cutting employees or raising product pricing.
    Making 2x the money go half as far.

  10. For those who champion the $15/hr should open a business and pay your worker $15/hr on a county that had $9. I bet, you'll be bankrupt in couple of month. Why? Simple. As a business owner, your profit is marginal into the cent not even dollar. If you're not a big corporate who could turn that cent to million by selling Quantity. In your small business case, your cent mean shit and it barely cover your worker and earn you a small profit.

  11. everyone should just get 1000 bucks a month that way small businesses have a chance to survive. I can't expect a small business to pay 20 bucks an hour and provide healthcare and lots of hours. If everyone had a baseline 1000 bucks a month, a 15 dollar min wage wouldn't be so bad.

  12. David, the minimum wage debate needs a much longer segment than this. I would like to know which meta studies you find the least bias and what they say.

  13. The federal minimum wage has gone up 22 times since 1938. All of the horrible things that were supposed to result from those increases never happened.
    Never!
    Check the data.
    Reality always answers the questions. Screw the so-called studies.

  14. Open borders, free Medicare for all, $15 minimum wage, what could possibly go wrong? Even Bernie Said he'd have to cut his staffers hours in order to pay them $15 an hour, that's what will happen across the board if minimum wage is raised so financially employees will be back where they started.

  15. BUSINESSES CANT AFFORD THAT YOU HAVE TO LOOK AT PRICE AND WHAT IT COSTS THE BUSINESSES TO PAY $15/hr wage AND MOST WONT BE ABLE TO DO THAT BECAUSE THEY WILL LOSE MORE MONEY THAN TAKE IN!!!!

  16. So for those of us who have worked stupid hard and made our own way up to $15 or higher, are we going to then be closer to minimum wage like everyone else and have to start all over again? Are we getting an equivalent raise to make up for our sacrifices? If so where is the cutoff and who decides it?

  17. This is why I'm hesitant about Bernie's policy. Wages are absolutely a top priority, but if this is the route Bernie wants in think he should nuance it in the way David talks about. Mandating $15 minimum wage in blanket form at the federal level I think would actually do a fair amount of undue harm. It would be better to simply mandate a minimum wage increase/living wage, but leave the exact number to be determined at the state level based on local economies and what constitutes a living wage region by region. Big corporations can handle the wage hike, but many small businesses in rural areas and states would not be able to effectively nearly double the wages of their workers, even within a year or two, without having some serious financial backlash. Most small businesses aren't like CEOs in terms of pay gap.

    There's also the outlying elephant in the room that is the fact minimum wage increases doesn't address the needs of those who are without jobs and will be without a job in the near future. Automation is here and it's going to keep getting worse. Truck drivers and harbor workers are already doing and planning strikes and protests about this because of the reality that their jobs are in very real danger. A living wage, as great as that is, does nothing to address this issue and every candidate but one has acknowledged automation for the impact that it is having. Bernie's wage victory won't be remembered so well when millions are jobless within the next decade or less. Think about the fact that in the eyes of a corporation a robot doesn't cost wages, never needs vacation or paid time off, and can do the job equally well if not even better than a human. Will Bernie just wait for the protests to become more severe? How many will lose their jobs and be left nothing before he takes this seriously? Singapore has fully automated convenience stores and London is going to be the home of an automated purely drive-thru McDonalds. This is not a time to be sleeping on the job. This is happening today. Not 10 years from now, not 50. It's already started.

    Looking at the data available, a universal basic income is a far superior policy position to get money in the hands of working people in the best way possible so we can get in front of this before it becomes so bad we can't reverse course.

  18. There is a very simple way to determine what is real with minimum wage. Start with any wage figure you like, halve it and multiply it by 200,000,000 (wage earners), then ask yourself if this will increase economic activity. Most people spend every cent that they earn, have you increased the amount of money in circulation by halving the incomes of all of those people? No! Halve that figure again. Do you think that the economy will be improving with people earning a quarter of what they started with, a quarter of the money to spend in stores, restaurants, government taxes, fuel, etc? Obviously no. Now do the same experiment in the other direction and ask the same question. You will now be appreciating what is true and not. As for business owners who need to have people working for them for $2.50 per hour and who claim that they will go broke if they have to pay a living wage,…they are bad business people who do not know how to make a business work and who should go broke.

  19. Raising the minimum wage is a good thing. But, it's efficacy is limited over time, as the upper tier wages increase ever higher and the minimum wage doesn't keep pace with inflation.
    Ultimately, I'm all for worker ownership of the workplace.
    But, until that happens, there are other intermediate steps that could be taken. An idea I'm rather fond of is Minimum Wage that is tied irrevocably to a Maximum Wage so that it's about a 2:1 difference. And, beyond that, mandatory raises after a universal amount of time. Perhaps after a year you are bumped up to 1.25 times the Min. Wage, and after four years you reach the maximum of 2 times the Min. Wage — after 4 years you are likely well versed on the job and clearly have been performing well to still be there. But the idea being that you aren't trapped at a lower tier of income as a means to enforce a wealth gap between workers and owners/CEOs. Also, with wages being fairly well flattened out between income brackets, there'd likely be a lot of excess income ("profits") for various corporations that could be heavily taxed and still leave an excess for that business to reinvest in itself (improving working conditions, upgrading/maintaining specialty equipment, etc).
    I'd also like to see a minimum implemented for vacation time (holiday pay) in the US that allows people to actually have time off. Maybe something like one month of vacation (holiday) a year. If it doesn't carry over to the next year, fine, but you start the next year with a month already available.
    And of course there's still issues with stocks and other specialty benefits withheld for only top tier CEOs.

  20. Yang 2020 UBI is the answer to curb homelessness and living cost as well as help people who’s jobs are lost due to automation

  21. In my opinion minimum wage should cover renting, bills for water and electricity and your food. By now if you are single you can't even pay the rent with only 1 job. How is this possible specially in countries people say are the best in terms of quality of life.

  22. My concept for pay and hours work would be this: We can calculate the number of labor hours in our country. We can calculate the number of employable adults in our country. With those who numbers, we can determine the number of hours someone needs to work. This would be the full time employment rate. We pay a salary to each employable person which equals, at least, the cost of living; anything over the nationally calculated (max) hours would be paid overtime. With this system, everyone capable of working would be employed. There wouldn't be any excuse for someone, who is capable, not to have a job. payroll could be paid by employers to the government and through a government department could be paid to each employee along with a UBI minimum for those unable legitimately to work. I thinking people working less hours would be more beneficial to person and family health.

  23. 1:30: Thing is you can often tell where their mistakes were made if they have a bias. You can scrutinise them and find ways that they distorted the facts, either by changing the range to a more favourable one, choosing very particular circumstances, like a recession, or choosing very exceptional subjects.

    A good measure of bias is to look at the scenario they suggested, and how they framed it: did they choose a favourable scenerio or a bad one? Did they tell the truth? For example choosing a bad scenario can be fine if they say 'this is one of the worst cases' at the start. Who did the study is irrelevant; what matters is did they do the study well or poorly. Bias is only applicable to say whether the study MIGHT be good or bad, it doesn't say that it is.

  24. Someone said it would cost the Walton family 10 billion to give healthcare, retirement, a living wage, vacation, sick and personal days to every eligible employee at Walmart and Sam’s Club……leaving their family with a poor man’s fortune of merely 104 billion. Get your petards and pitchforks folks, it’s the only thing the ultra rich fear…and believe me they do…

  25. I trust government data and academic papers. If I can i try to get a sense of who is conducting the study and what are the political ideals. It's hard coming with non-biased information. CBO came out with a report recently on what are the estimated effects of increasing the minimum wage… I trust them because I believe that they have access to data that some other people may not have.

  26. I am for UBI, $15 sounds good and all but living cost is different from state to state city to city. $15 may work for NY but not in Tucson AZ etc,
    it'll also hurt your main street small business for sure, I don't know why people don't see that. it should be upto the state to make the best decision that fits their living/wage

  27. Just dropping by to see if David finally gave up on the crazy Russian hoax. I don’t see any recent videos pushing this conspiracy. Good.

  28. The median income in 1970 had more buying power then the median does today. And 15 bucks an hour x 40 hours is like 600 a week. That’s less than 30k since you’ll pay various taxes and you don’t work all 365.

  29. I wish more people would do this, but if you actually take the time to read through all of the studies on minimum wage increases and look closely at their data and methodology, you find that there are glaring flaws in all of the ones that predict job loss, loss of hours, etc. Over the years I've read most of the studies you can find in google searches especially those that were popularized in the media. Cherry picking data and not using proper control groups is a huge problem in studies that predict negative effects.

  30. My theory is, the more workers earn, the more they'll spend. The more they spend the better it is for businesses. The income businesses have, the more they can grow, thus more jobs. The more businesses and workers make the more tax they pay. The more taxes collected can provide for more and better govt services and much needed infrastructure upgrades. More of that kind of work, and all other kinds of construction, means more jobs. More jobs means more spending…….etc etc etc….

  31. $1,000 a month from a Universal Basic Income is far superior than a $15 minimum wage. How does minimum wage help homeless people who cannot get a job? How does minimum wage help women who work in daycare and at home? How does minimum wage help people who want to start a small business? How does minimum wage help customer service jobs when companies will just be forced to automate the jobs instead of pay people to work to save money? And how come people who are for increasing minimum wage never talk about most lower paying jobs today are contract jobs where minimum wage does not even apply?

  32. Look at the story of Bernie's failure to provide a $15 an hour wage. That's all you need to know about minimum wage laws

  33. Yes… It is very regional… Just keep in mind… I'm here in Vegas with a 2nd gig as a Gaming Host (in grocery stores I hand out the money players win from playing on the machines) Our wages are going up in January to just $9… Coincidentally they have reduced the number of shifts as well as hours… So people who once had permanent locations are now floaters (scheduled 2 days a week and must receive calls to fill the week) All this going from $8.25 to $9… Different companies are making decisions which impact people's lives in order to reach this "liveable wage" Some decided to just quit… So they have gone from a low wage (with tips) to no wage at all… Unless they have other avenues…

  34. Those billionaires who run the local McDonald’s franchise aren’t gonna just eat the cost of minimum wage increases. They’ll get rid of employees or close.

  35. If a hamburger flipper that started yesterday that now gets paid 15 an hour do you raise the wage of workers hat have been there for five years to 20 dollars an hour? What about raises and bonuses? There should at least be a mandatory cost of living wage increase every regardless of your job. There should be raises every 6 months to 15 dollars an hour then every year or something.
    Your slowest sloppiest, always late worker that was good for what he was good for and making 8 dollars an hour just got a double in his pay. How many people do you want to train for 15 dollars an hour to pay them 15 dollars a hour?

  36. I don’t think the minimum wage should raise because cost for rent and other expenses will rise. Then we will have people paying more than 30% of their income to rent.

  37. Having a minimum wage as it works in USA is a really bad idea. First of all it takes years for it to change when it has to change every year to keep up with inflation. It is a mush better to have strong labor union laws that can negotiate a fair wage every year. That way you don't have to worry about $15 is too mush or too little because it's handled on a more locally.

  38. David – Arkansas actually has a higher minimum wage than North Carolina or Texas. I just checked the federal minimum wage table because I didn't know what the minimum wage was. It listed that some states have set a higher wage than what the federal is. I believe it was Georgia that said $5 something!!

  39. The federal minimum wage will not work out well over all. I can't properly speak it but here are two links one from a political science YouTube channel and another a business owner.

    [Learn Liberty] Minimum Wage Is A Cruel Policy For Poor People – Learn Liberty #learnLiberty
    https://www.youtube.com/watch?v=sAwf-JdIr0o via @PodcastAddict
    [Valuetainment] Minimum Wage Debunked – Why Amazon & Walmart Love the Idea #valuetainment
    https://www.youtube.com/watch?v=mHkLDX8uoCI via @PodcastAddict

  40. Doesn't ANYONE…see….that …anywhere they demand 15.dollars an hour…the jobs are being replaced with kiosks and self serve computer? Even Cooks in a restaurant are being replaced with machines.. Lawyers are being replaced with Artificial Intelligence, more efficient than humans. Figure it out…guys.

  41. Perhaps it would be better to determine minimum wage as a percentage of local cost of living rather than a fixed national value.
    However I do understand that the minimum wage is supposed to be a minimum, not a standard.
    I also understand that people will seek minimum costs to maximize personal gain even at the expense of others. So society does need regulations for the greatest good.

  42. Bernie Sanders supported a 15 dollar minimum wage until it came to his employees. He then started giving them less hours because he could not afford it.

  43. sorry. 15 an hour would hurt every industry. Its also fucking stupid. 15 an hour to flip burgers? absolutely not

  44. Now that the $15 happened in NYC McDonalds workers are paid the same as Emergency Medical Technicians, so people are jumping ship from that vital job :/

  45. The real answer is to have a progressive minimum wage.
    Business with; Minimum Wage
    1 to 50 employees, $0
    51 to 100 employees, $7.25
    more than 100 employees, $15
    This would allow small businesses labor savings to compete with big business economies of scale.
    Small businesses would teach unskilled workers valuable skills while paying them very little.
    But if you think about it, colleges charge to teach valuable skills, and getting a journeyman card is just as valuable as a degree.
    Some might not consider working at burger king or a local carpet store a valuable experience, but learning to be on time each day, learning how to lay carpet, how to manage inventory, how to be a salesman, how to manage a department or an entire store are all very valuable skills. Every burger flipper has the opportunity to go to the McDonalds manager training. Minimum wage jobs get an extremely bad rap.

  46. No one here.  The only meta-studies that have not been completely rejected by the economics profession (because the same applies to pretty much all of the underlying research) indicate that the minimum wage is entirely harmful to workers, never puts more money in workers’ hands, never benefits the economy and actually increases poverty.  The overwhelming body of research from economists from a wide variety of academic and professional sources (by more than 4:1) shows that the only real result of minimum wage laws is disemployment.  Only a handful of union funded propaganda shops – the Economic (sic) Policy Institute, NELP, (whoe latest absurd claims have been disproved. PERI, CEPR and ERLE – find otherwise  Hilariously, both Pakman and the caller believe the Economic (sic) Policy Institute, without doubt the most debunked “economic” organization in existence.

  47. How many millions of teenagers over the years, who should be learning a work ethic, are never hired because the value of their unskilled labor isnt worth to an employer what the govt mandates they be paid at a minimum? It hurts urban youth the most.

  48. Well according to my local newspaper you have to make 18$ an hour to be able to afford the cheapest apartment in the city… fuck every conservative fighting minimum wage raises.

  49. The Minimum Wage wasn’t supposed to be a Living Wage. Politicians that are ultra left-wing radicals the likes of Bernie Sanders and Alexandria Ocasio-Cortez are advocating eliminating the minimum wage in favor of a living wage. Isn't the whole point of a minimum wage job to gain experience/skills? It was designed for young teenagers still living under their parent's roof or for the housewife that wanted a second job while the husband was the main breadwinner. The majority of jobs that pay minimum wage are entry-level jobs. Why should the minimum wage be increased when the whole point is to gain experience that qualifies you for a higher-paying job? If you're a middle-aged person unskilled and uneducated and find yourself in this predicament you need to take a good hard look at yourself and ask how did I wind up here? If you need more money to support your wife and children you need to get an education that helps you find a higher paying job or find a skill that can make you a good living. Don't demand Business owners or the American taxpayers to make up for your failures in your life.

  50. I want to add that the studies cited are projection studies. 'If the minimum wage is increased, X, Y, or Z will happen.' Such studies are more open to bias, because they rely so heavily on the input variables and/or assumptions about actions people will subsequentlly take in response to the ”if” premise. Studies which look at what has happened in places that increased the minimum wage hold more water as they examine the actual effects of the policy.

  51. Walmart employees collect billions per year in welfare. Just one company's employees. The people that have claimed to care about 'government waste' including the 'fiscally conservative' neolib and the 'libertarian' neocons and teacons are the REASON THE GOVERNMENT WASTE IS HAPPENING.
    Living wages would save us 10s if not 100s of billions in government waste. It's progressives that will make this happen. Not lying liars and their lying bank friends.

  52. I would love the minimum wage go up. But let's be real, if goes up then that means the price of everything else will go up. Let's not forget that they would have to raise the wages of people that has gone to school for something. For an example, where I live in FL the minimum wage here is $9 and the cops start at $15… so if minimum wage goes us then that would mean cops wages will have to go up to $20, then lpn would have to move from 18 to 25, then RN have to go from 25 to 30…. so on and so on. Which means the price of food, gas, and pretty much everything would go up. Meaning we are going to be at the same place there we are now.

  53. I still say, jacking up the minimum wage will just be past on to the consumer. Because business won't absorb that difference, they'll just raise prices and that 15 an hour still, won't be enough. Plus,,, what about people who have worked hard, their way up too,,, 15 an hour? Then some nubie walks in making the same. Do we all get a salary increase, to compensate for those people with no experience, walking in making the same as a seasoned worker. Think about it.

  54. Andrew yang is telling the truth about 15 min wage, and why it wont work with increased Automation is coming. Yang2020

  55. McD's threatens that if the Min. wage is increased, they will put in automatic 'burger machines to replace workers.
    Bullshit. If they could buy a machine to replace workers, they would have already done that.
    If $15 an hr. was what it should have been, when Bernie was running in 2016, then 4 years later, they should get a cost of living raise, & should be making $19/hr now.

  56. Minimum wage is complicated.. raising the minimum bar for business is bad because the cost gets transferred to the people who are now able to spend more so it balances out? I'm not saying have a low minimum wage, i'm saying have better worker rights and force companies into paying more of their own volition.. tax breaks for companies that have more employees at % above minimum wage.. tax breaks for companies that have a higher ratio of full-time over part-time workers. Stronger workers rights, stronger unions, stronger civil liability on companies to provide more to workers are all better ideas. I'm not saying a high minimum wage is bad, i'm saying it's only a small piece of the larger puzzle to get workers what is needed for society to work better.

    Edit: who cares how much a company pays you if they treat you like a bag of shit. Amazon warehouse much?

  57. Why not a minimum wage indexed to regional cost of living? SO maybe it would be $18/hr in NYC, and $11 in Tuscaloosa Alabama?

  58. I do not know if it is still in effect, but England used to make employees pay more for employees who worked in very expensive cities such as London.

  59. here in Nebraska. If you live alone, in an apartment, no kids, no student debt, no debt whatsoever, $12-13 would be alright for young/middle age people to get by while being able to go outside and do something for the weekend with friends.

    If you are married, and have 1 kid, be sure the total amount of money from both parents at least brings in a total of ~$35,000 for the year.

  60. I suggest that folks go to the Federal Bank's website and drill down to the M tables and the ilk… you will find that our country and probably all countries that deal with wage slavery (all countries) just doesn't / don't have enough money in circulation to allow everyone a living wage. All banks don't have enough liquid cash to pay out to all customers on demand. All banks have been allowed to loan out their cash to borrowing customers so as to allow banks to make a profit – all money in this case is just on paper / on the books and not in the vaults…But the result is that if lower paid workers are paid more, there will be a big imbalance of monies that are available to what is loaned…I am not an economist, but I do read. All money today is fiat, ie there isn't anything of greater value to back it up and all money is based on perceived value. The USA got rid of the gold standard the last time back in the 1970's and we probably don't have a plan to go back (not enough gold). What will happen if more lower paid workers actually are paid a living wage then all prices for goods will rise to try to recoup the amount of monies in circulation. I totally think all people NEED and DESERVE a living wage or means of subsistence beyond the basics to allow honor and dignity to all, not just to the 'Mr. Bezo's of the world. I don't really truly wish to criticize the wealthy, but all people deserve the benefit of spendable monies beyond basic subsistence. AND $15 / hour will not allow anything more than basics. We truly need another economy, money has had a run of bad consequences. Time for another economy.

  61. A lot of comments here about the angst of being replaced by AI or automation, either way it means less of a chance for a livelihood for humans. Please recall why modern countries desired an education system for the masses. Perhaps not the only reason, but a big part of the reasoning is an educated workforce for the factories upon which the upper classes made and retained their wealth. With the rise of automation and AI will bring undoubtedly bring a lessening of a requirement to adequately educate or train humans. As long as there are pre-trained robots making the wealth of nations then there is not much need for useless humans to pay; need only enough to buy the products to allow continuance of wealth for the upper classes. All other humans over a base amount are useless. Rockefeller only needed a small amount of the population to buy his kerosene to make him fabulously wealthy. Sad isn't it?

  62. I got my $15 and now I am FIRED from my job liberals DON'T CARE about jobs conservatives were RIGHT AGAIN

    -Tim Pool

  63. Don’t agree! Arkansas is one of the poorest states. We still have to raise families at the same cost of richer states!

  64. Do not Raise the Minimum wage! It destroys the economy! Prices go up! Hours and Jobs get cut where there are small profits.

  65. The liberal politicians want to see thousands of people lose their jobs and small businesses closing.Sad their voters always encourage their demise.

  66. Yang's Freedom Dividend is a better solution. Benefits everyone instead of just those making less than the new minimum, doesn't incentivize businesses to reduce labor, it's significantly more money(untaxed money at that), etc.

    Making minimum wage labor almost twice as expensive will just encourage corporations to automate those jobs away sooner.

    #YangGang #Yang2020

  67. I live in Oregon where min wage is $11.25 in most areas, with legislation to gradually increase it until it gets to $14+ in a few years. Right wing and Libertarians claim it will kill jobs and speed up automation. I can tell you that is not true. Literally EVERY fast food joint in my town is hiring. EVERY. ONE. And beyond that, several of the fast food joints are going through remodeling or have recently remodeled. This shows me a). There is still profitability to pay employees a living wage since they are investing and b). the higher minimum wages are not reducing jobs.

  68. If you want a true read on minimum wage effects, look at history. Historically a strong minimum wage is a huge boost to the economy in general.

  69. Wish dave would let callers talk a bit longer. Or not just cut them off. If they are being aholes, sure. but come on this dude was fine.

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