Living in Canada working for minimum wage and just got the increase in pay a bit ago...

>huffingtonpost.ca/2016/05/31/minimum-wage-canada-ontario_n_10223826.html

huffington post? jesus christ. lol.

thats a different calculation. they divide by employees, I divide by population. 1million/40million people is roughyl 2% of the population.

look at the statscan data not fucking huffington post you brainlet

What kind of retard are you?

Im employeed as an economists and know infinitely more about this topic than you.

heres where you should start, the most famous study on the minimum wage

nber.org/papers/w4509

Nice! This is like a second /pol/

yep it's horrible for two primary reasons - it's going to cause consumer prices to go up, you'll pay more for pretty much everything you buy. You'll also pay higher tax. Overall your annual net income won't go up at all really.

Secondly it'll devalue other blue collar jobs such as factory work in contrast to the minimum wage. For example right now if you have the option of working for $11 at a gas station, or $18 at a meat packing factory, the meat packing factory is a no brainer financially as long as you're physically capable of the work. When minimum wage goes up to $15, the difference between the gas station and the meat packing factory narrows substantially, now one might not want to work in the factory for only a few dollars difference.

Overall it'll crush the lower & lower-middle class harder than ever before.

the prices of securities those trillions were pumped into were inflated. The Fed doesn't track inflation, and money supply alone doesn't cause price inflation, loss of confidence is required as well.

You're a fucking retard. Fuck you.

Well it's a bit more complicated than that, for example I'm from Hungary where the minimum wage is about $3 an hour (counting in aud just for the sake of argument), but I live in Australia where the minimum wage is $20 an hour. Most goods and services like restaurants, food, public transport and housing are much more expensive here, but there are also things (mostly electronics) that cost the same or less. So if we assume that $20 here generally has the same purchasing power as $3 there, australians still come out ahead when buying a TV, phone or a car.
Another thing to consider though is that a lot of minimum wage jobs in Australia would be above minimum wage jobs in Hungary. For example a cashier at a supermarket would make about $6 an hour, which is double the minimum wage, but you don't see australians making upwards of $40 doing the same thing.
Also a daily reminder that Norway has one of the highest standards of living in the world, yet there's no minimum wage set by the government.
So my understanding is that when you raise the minimum wage you devalue the money of everyone in the country, and also fuck over the people who worked just above the previous minimum wage because when you bump it up from $11 to $15 suddenly all $15 dollar jobs became minimum wage jobs as well, but ultimately it really depends on the economy of the given country. If there's general wealth and prosperity a minimum wage will still be enough to live a comfy life, if the country is a shithole then you can raise it all you want but it's just going to keep getting worse, see Zimbabwe. I'm sure the minimum wage over there is trillions and trillions of dollars per hour.

Raising minimum wage is the surest way to kickstart the economy when it stalls. This is because anyone poor enough to have been earning the previous minimum wage will immediately spend the extra money they make to raise their standard of living. Maybe you've noticed, but poor folks aren't good at accumulating and hoarding wealth the way that their employers are.

It turns out people do better when they're not poor as fuck. Give them more money, it'll just indirectly go into Walmart and Apple stocks

...

Omfg... How do you breath without help?

>I'm no economist but isn't this really fucking stupid. You simply can't give a good chunk of the working population 50% more money. It seems like when a child learns about poor people and asks why they don't print out more money. Am I missing something? I really hope I am because otherwise my government is fucking retarded.

No, this is really fucking smart. People on the minimun wage spend all the money they earn. Giving a good chunk of the working population 50% more money means that a huge amount more is going to be spent in the economy. This is nothing like printing more money (which obviously devalues currency) this increases the spending power of people who do nothing but mindlessly consume.

> For example a cashier at a supermarket would make about $6 an hour
See that's ridiculous that a cashier's time is worth twice as much money as someone on the minimun wage. What the fuck is cashier a promotion from? Dung collector?
You mention Norway but Norway effectively does have a minimum wage, $16 an hour. Instead of teh government implementing a minimun wage, the unions did. Somehow I doubt OP would want the government to give the unions more power though.

Sorry, meant to direct the second part of my post at this ungrateful Hungarian.