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View Diary: Warren politely SCHOOLS businessman at Senate hearing who tries to explain wage economics to her (219 comments)

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  •  You make a good point but I would quibble with (1+ / 0-)
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    jrooth

    you a bit.  I don't have any hard evidence for this (but I'm sure there is some out there somewhere) but a lot of middle class people eat at fast food restaurants and at chains (Chili's, Applebee's, etc) and even occasionally at higher end restaurants.    And so they are all fighting over the same customers to some degree.  If there is a significant impact on the chains but not on fast food, that should at least be considered.

    With that said, IMO, the only argument that conservatives have in regards to raising minimum wage is that it can depress the economy by eliminating jobs.  Dr Dube smacks this down and so, if this is accurate, then there really is no good reason to NOT raise the minimum wage.

    My original quibble is just pointing out that many people (including MOT) were praising her for the 8 cent per meal comment and it was not accurate.  With that said, I'm guessing that MOT has a way to interact with Warren's staff and it is possible to quickly estimate the price increase necessary for Rutigliano to increase his pay to a new, higher minimum wage.

    We cannot solve our problems with the same thinking we used when we created them. Albert Einstein

    by theotherside on Mon Mar 18, 2013 at 11:29:49 AM PDT

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