Comment 28363

By A Smith (anonymous) | Posted January 30, 2009 at 01:23:43

Ryan, what studies and by whom. Take a look at the U.S. right now. They recently increased the minimum wage at the Federal level and lo and behold unemployment has gone up, interesting? Same goes for Canada.

However, if you are correct, then why stop at $8.75? Why not set the minimum wage to $15 or $20 an hour? If, as you say, increasing the minimum wage increases output, why not move it to $1000 an hour?

If increasing real output is as easy as the government demanding so, then our leaders should pass laws that make businesses produce double the amount of goods and services every year.

The fact of the matter is, real wages represent the amount of stuff that a country produces, so unless you can make more stuff, you can't really increase real wages. Any extra money you give to Bill, you take away from Tom. It's that simple.

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