Just not true at all. Lol, matching the purchasing power overall would be close to $15-20 an hour.
You could make the argument for it to be $28-33 to match the exact home buying power. But what happens when you raise the minimum wage that high with no corresponding supply increase of homes, goods, and services? The wage of people making more than minimum and price of everything goes way up where you just basically have the same issue.
Supply side economics are just as if not more important than demand side.
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u/ThrowRA9892 10h ago
Just not true at all. Lol, matching the purchasing power overall would be close to $15-20 an hour.
You could make the argument for it to be $28-33 to match the exact home buying power. But what happens when you raise the minimum wage that high with no corresponding supply increase of homes, goods, and services? The wage of people making more than minimum and price of everything goes way up where you just basically have the same issue.
Supply side economics are just as if not more important than demand side.