Minimum Wage is not a Social Welfare Program
Why can’t we talk about the cooperation between employers and employees. Certainly, we work for less than we value our labor in exchange for certain benefits. Tax breaks are not a benefit of labor. Tax breaks can never be indexed to, say, increased production the way wages can. I don’t know enough about inflation to say the same for it, but I feel like that would be just as nutty.
When did economics become a means for justifying the failure of employers, owners, stake holders, and the government ignoring their bargains in the cooperative effort to produce value? All I’ve got to sell is my labor, and I don’t want to do that in order to secure a tax credit that exists only to prevent me from falling below the poverty line.
In addition, I don’t know why we’re tying the success of a minimum wage increase to whether or not unemployed workers will benefit from such an increase. It seems like a willful conflation. It sounds like we want to begin composing wages as a social welfare program. Not surprised Capitalists would seek to externalize the cost of wages, but the anti-state employing classes can’t have it both ways, right?
There’s a reason Milton Friedman supported negative income tax policies and it wasn’t because he gave two shits about poor workers.