Chart courtesy of Marginal Revolution University
The following commentary was published originally on Jan. 27, 2022, in Honolulu Civil Beat.
_____________
Last week Senate Bill 2018 — a proposed minimum wage increase to $18 per hour over the next four years — was introduced by state lawmakers. Al
You’re right that minimum wages are sold as putting more money in people’s pockets. I can see why you would focus on that benefit, but the whole point is to make people’s lives better. If someone offered me the same amount of money for working 20% fewer hours, I would take it. Assuming minimum wage doesn’t put more money in workers’ pockets, it improves quality of life by giving back time over the status quo.
Again, status quo is what it is. Individuals won’t be making less money. Same money + more free time = huge black market increase?
A progressive tax policy was just an example of something other than typical rich people/corporation cuts. My point is that the people publishing this article have an expressed intent to advocate for the reduction of taxes. In the US that means exactly what you’ve said - a reduction of taxes on the rich cloaked in the lie of helping everyday people keep more of their money. I brought it up as a reason to be skeptical of the conclusions they draw.