Illinois House & Senate passes 15 $ Minimum wage !

[OSR stands with Israel]

Hopefully it gets vetoed , as 15 dollar min wage would be terrible for the economy.

[OSR stands with Israel]

Hopefully it gets vetoed , as 15 dollar min wage would be terrible for the economy.

Beeeecause......?

Besides, let's not forget as is usually the case with these measures: This is phased in over the course of the next several years, not overnight.

Because the price floor will still likely be above the equilibrium

[OSR stands with Israel]

Hopefully it gets vetoed , as 15 dollar min wage would be terrible for the economy.

Beeeecause......?

Besides, let's not forget as is usually the case with these measures: This is phased in over the course of the next several years, not overnight.

Because the price floor will still likely be above the equilibrium

Which is the point of minimum wage laws. If one wishes to reduce our economy even closer to, say, Guatemala's, where full time labor can't provide even the most basic essentials of food, clothing and shelter, then yes it's a terrible idea.

If one believes the economy's biggest problem isn't the lack of available capital to invest in open widget factories, but  rather the lack of consumer wealth and spending power to purchase enough widgets to sustain those factories, it's a blooming great idea.

Have you taken economics before , when the price floor is above the equilibrium unemployment increases

[OSR stands with Israel]

Hopefully it gets vetoed , as 15 dollar min wage would be terrible for the economy.

Beeeecause......?

Besides, let's not forget as is usually the case with these measures: This is phased in over the course of the next several years, not overnight.

Because the price floor will still likely be above the equilibrium

Which is the point of minimum wage laws. If one wishes to reduce our economy even closer to, say, Guatemala's, where full time labor can't provide even the most basic essentials of food, clothing and shelter, then yes it's a terrible idea.

If one believes the economy's biggest problem isn't the lack of available capital to invest in open widget factories, but  rather the lack of consumer wealth and spending power to purchase enough widgets to sustain those factories, it's a blooming great idea.

Have you taken economics before , when the price floor is above the equilibrium unemployment increases

That's the theory in Econ 101, but if you ever took higher level classes you'd know that rarely materializes in reality because the increased purchasing power of higher paid workers increases consumption, and thus production, and thus employment.

Yes for 10.50 dollars and maybe even 11.50 but 15 no way .