Whats wrong with pushing more Americans to work for lower wages like china does?

e001

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Minimum wage is a big mistake, the only reason why it's not discussed more is because people ain't trying to hear it.
 
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Turbulent

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From my understanding, raising minimum wage or any form of universal basic income would just drive inflation higher so at the end purchasing power is the same (in other words, we are as broke in the end). Could someone break down how eaosong minimum wage helps individuals in the longterm or what I'm missing?
 

psiko

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From my understanding, raising minimum wage or any form of universal basic income would just drive inflation higher so at the end purchasing power is the same (in other words, we are as broke in the end). Could someone break down how eaosong minimum wage helps individuals in the longterm or what I'm missing?
Basically inflation isn't 1:1. For example a big Mac the US where min. Wage is 7.25 federally is about $4 on average. In Denmark whee mine wage is $16 an hour a big Mac is $5.50. It's higher, but everything isn't going to double or triple in price overnight because min wage went up.
 
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