> The data on higher minimum wages is not clear and it is not obvious it would benefit all Americans (or even the poorest Americans).
You've been duped [1].
There is an extensive scare campaign around raising the minimum wage that is motivated by one thing only: allowing the wealthy to retain more of the profits generated by their workers. That's all that's happening here.
There is a well understood principle hhere too called the alienation of labor [2]. To summarize, without pushback workers will become increasingly estranged from and unable to produce the products they produce.
This is ultimately bad for the corporations that are exploiting them and the society as a whole because if nobody has any money, then there are no customers for your business. Over recent decades we've extended this by invoking debt. Housing debt, student debt, medical debt, credit card debt. These are temporary patches to a system that is fundamentally exploitative.
You've been duped [1].
There is an extensive scare campaign around raising the minimum wage that is motivated by one thing only: allowing the wealthy to retain more of the profits generated by their workers. That's all that's happening here.
There is a well understood principle hhere too called the alienation of labor [2]. To summarize, without pushback workers will become increasingly estranged from and unable to produce the products they produce.
This is ultimately bad for the corporations that are exploiting them and the society as a whole because if nobody has any money, then there are no customers for your business. Over recent decades we've extended this by invoking debt. Housing debt, student debt, medical debt, credit card debt. These are temporary patches to a system that is fundamentally exploitative.
[1]: https://en.wikipedia.org/wiki/Marx%27s_theory_of_alienation
[2]: https://irle.berkeley.edu/publications/press-release/new-stu...