I overheard a complaint by a medical technician over the fast food workers’ strike for a higher minimum wage… This person objected to a $15/hr minimum wage because they, with a college degree and advanced training, made $16/hr. While my first response was… maybe they should be earning more, it occurred to me that I don’t know what effect a minimum wage increase would have on workers making various amounts higher than minimum wage. There have been a number of studies and news reports (see here, here, here, here, and here) on how such a change would effect the economy overall, the question I have is what happens to low wage workers who make just above minimum wage? What about two times minimum wage? Three times minimum wage? Union wages?… etc.
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