Not necessarily. Taxpayers already have to subsidize workers with an income below the poverty line through paying them welfare benefits. If the minimum wage were adjusted so that a full time independent worker making minimum wage would have earnings at just above the poverty line, in theory this would just shift the welfare cost from the taxpayers to employers. Taxpayers would pay less in taxes which would offset the increased cost of goods and services. I'm no economist, but it seems to me that it would be a wash.
I was just trying to illustrate why the idea of workers "deserving" more because they're human beings makes no sense.
But in general, we all want as much as possible for as little as possible. That includes employees and employers alike. That's why people and businesses get paid whatever they can get someone to voluntarily pay for their goods and services.
Not necessarily. Taxpayers already have to subsidize workers with an income below the poverty line through paying them welfare benefits. If the minimum wage were adjusted so that a full time independent worker making minimum wage would have earnings at just above the poverty line, in theory this would just shift the welfare cost from the taxpayers to employers. Taxpayers would pay less in taxes which would offset the increased cost of goods and services. I'm no economist, but it seems to me that it would be a wash.
Um.. I wasn't being serious.
I was just trying to illustrate why the idea of workers "deserving" more because they're human beings makes no sense.
But in general, we all want as much as possible for as little as possible. That includes employees and employers alike. That's why people and businesses get paid whatever they can get someone to voluntarily pay for their goods and services.