Board Thread:Fun and Games/@comment-28826152-20161221223809/@comment-25012056-20161227133629

I believed in Santa until my family hit an economic bad spot the year I asked for a lot of expensive stuff... I figured it out quickly from there.

The thing with raising a minimum wage is that while the price of goods purchased could go up, there is not only a lag between those events but a chance it won't happen entirely. Furthermore, very few economists deny that the cost of living has now risen above what the minimum wage can pay for anyway. If you are right we will have the same problem in a few years - but there's evidence that it won't happen that way.

What has been found increasingly often in smaller tests of this - such as Walmart raising its wage (turning around on its horrific track record of obscenely low wages and poor worker treatment) is that the workers, once they are paid more and can not only afford to live but also to buy things they do not need - will spend more on goods and actually increased the profits of the companies involved.

Ultimately though, I think the better way to do it is to enact legislation forbidding companies from paying their highest paid employee (often the CEO) more than, say, ten times as much as their lowest-paid employee. (Ten times is not a suggestion, just an example.) Companies can then raise/lower wages accordingly and ultimately, if done right, most wouldn't lose any profits - only the rich that have far more to give would be taking cuts, which they could survive anyway.

Gen. Grievous1138 (LOTR Mod Wiki Admin) comlink 13:36, December 27, 2016 (UTC)