
Venture capitalist says a $28 minimum wage would create a more robust economy - cjbenedikt
http://www.geekwire.com/2016/venture-capitalist-says-28-minimum-wage-create-robust-economy/
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notahacker
" _Everybody_ should earn above the median wage"

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chiph
So, the Lake Wobegon wage?

(from Garrison Keillor's Lake Wobegon, where "all the women are strong, all
the men are good looking, and all the children are above average")

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sebastianconcpt
"Hey you should absolutely ignore Economics fundamentals and listen to what I
say. Print currency and regulate! After all I've bet early in Amazon and I'm
doing great!"

With that logic, why 28 and not 5000? This Keynesians are being so cheap!

Let me give you a good pair of austrian rolling eyes...

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fweespee_ch
This is sadly one of those situations where the guy's heart is in the right
place but he is simply wrong on the number.

$11-15[1] by 2020 is a reasonable _national_ range for a minimum wage with
certain states/localities raising it higher. The simple fact is, the peach
picker in rural Georgia has a lower cost of living than the Subway "sandwhich
artist" in NYC.

[1] 2016 Dollars, permanently adjusting for inflation against 2016 USD
indefinitely. This whole "random correct every so often" is simply disruptive
to both businesses and workers since it makes projection difficult compared to
small, annual raises linked to inflation.

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setra
Might as well just give everyone $45 hell why not $50

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hartator
And make Mexico pays for it.

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setra
Compelling Mexico to Pay for the Wall:
[https://www.donaldjtrump.com/positions/pay-for-the-
wall](https://www.donaldjtrump.com/positions/pay-for-the-wall)

~~~
x5n1
When you start strong-arming people, expect them to push you back sooner or
later.

I say we make Donald Trump pay for the wall, and we have many ways of making
his life miserable to make sure he does it.

1) Revoke his citizenship. 2) Make IRS audit his companies. 3) Stop approval
of various permits for his various buildings until he complies.

The things we can do as a government to this chump are endless.

~~~
kls
So you propose violating a birthright, the 4th amendment and and the 5th
because you don't like this guy. Your statement is a glaring example of what
is wrong with the US. Everyone is willing to look the other way so long as the
violations are for their team.

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soperj
It's funny that people(at least in Canada) are worried about low inflation
rate. Increasing minimum wage should really help with that.

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hiram112
I've been hearing this low-inflation nonsense for years. Okay, 1 lb. of
chicken is still $4 at the grocery store, same as it was 10 years ago, but I'm
guessing the cost of that chicken has been cut in half considering the
'chickens' are now HGH mutants and the workers virtual slaves that aren't
allowed to take a piss during their shift.

On the other hand, I just looked at the cost of my public university: 100%
increase, flat out, on tuition, compared to what I paid 10 years ago. In the
expensive east coast city in which I live, home prices have doubled since the
market crash in 2008. My medical insurance went from $10 copays a few years
ago to my current 'catastrophic' plan; this means I pay 100% out of pocket for
EVERYTHING until I hit a $2000 deductible. My premiums have not gone down.

So in essence, inflation seems rampant in those products in which the majority
of my income is used.

Things that I spend a few percent of income (food, junk from Walmart,
electronics) seems to have stabilized in price, yet is in every way inferior
to past versions. And the costs to manufacture have dropped precipitously
since technology has improved so much while third world wages have become the
norm for the owners, even now in the West.

So what's this BS about low-inflation?

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TheMagicHorsey
Does this guy invest in robotics or something? Say goodbye to manual labor in
anything that can be automated ... even at expense.

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antisthenes
I'm all for minimum wage increases, but they should generally be tied to cost
of living and inflation.

And yes, it should be far more fragmented than state-wide. There should be a
premium for urban areas.

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Futurebot
There are different views on just what it should be tied to:

[http://www.epi.org/blog/putting-9-minimum-wage-
context/](http://www.epi.org/blog/putting-9-minimum-wage-context/)

"..if the minimum wage had kept pace with average wages—i.e., if minimum wage
workers saw their paychecks expand at the same rate as the average worker—it
would be about $10.50 today. If the minimum wage had kept pace with
productivity[i]—i.e., the economy’s overall capacity to generate income— it
would be almost $18.75 today. Finally, imagine if workers at the very bottom
were seeing the same kind of raises as workers at the very top. If the minimum
wage had gone up at the same rate as wages for the top 1 percent, it would be
over $28 per hour."

The person in the story is using EPI's last number

