More Positives Than Negative to Raising the Minimum Wage, Says S&P
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A new study by S&P Global Ratings finds that measured increases to the minimum wage would ultimately benefit the U.S. economy. Satyam Panday, deputy U.S. economist at S&P, Subscribe to TheStreetTV on YouTube: http://t.st/TheStreetTV For more content from TheStreet visit: http://thestreet.com Check out all our videos: http://youtube.com/user/TheStreetTV Follow TheStreet on Twitter: http://twitter.com/thestreet Like TheStreet on Facebook: http://facebook.com/TheStreet Follow TheStreet on LinkedIn: http://linkedin.com/company/theStreet Follow TheStreet on Google+: http://plus.google.com/+TheStreet
Comments
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Is this guy an economist? I can't really believe that because all of the research he has conducted has been based on the assumption that employment will remain stable when we know that it is not the case.
Then he just dismisses the laws of economics by by saying that the results of a price floor on wages doesn't lead to fewer jobs. You need to look at the long term effects because it takes time for companies to properly measure these things and adjust accordingly. It also affects company growth because capital accumulation is what allows companies to expand and if you cut into their profits, you cut into their growth!
Spain!? Greece!? How are the unemployment rates over there? How is their economic growth?
Forget about increasing the minimum wage there is no optimal time to do that. When is the optimal time to get punched in the face? It keeps people with low productivity from getting jobs. Get rid of the damn thing! -
Absolute nonsense, this study evades the fact that the increase in income results in increased tax liabilities. Is TheStreet economically illiterate?
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