Reply to $25 min wage in DC

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sound economic policy, which this is not, is simply beyond the grasp of the average or below average person. [/quote]

Why don’t you explain it to us sweetheart? [/quote]

This will just drive prices up for everyone. If people at the very bottom now make a minimum of $25, then everyone else's wages will go up accordingly because everyone will say what about me. If everyone suddenly has a lot more money to spend, then prices for everything will also go up accordingly. A pint of beer will cost $25 and the dishwasher making $25 an hour will not be any better off. [/quote]

It's less "what about me" but more "now I can afford more." So, the dishwasher renting a room, now rents an apartment. Suddenly, there's a shortage of apartments because the market is artificially constrained by zoning. Prices of apartments go up. The person renting the room, no longer needs to rent the room to get by. Rooms for rent disappear from the market.[/quote]

Oh FFS, so we HAVE to make sure a certain percentage of people never make enough money in order for you to keep the housing market going. That is such BS. Why is housing unaffordable to college grads and people making decent money then?[/quote]

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