You do realise that raising the minimum wage gives the majority of poor people more purchasing power. Meaning they buy more stuff. --> the revenue of corporations increases and the employment rises. Because like it is said in the video there's a great imbalance between the poor majority and the wealthy minority. The latter isn't going to increase productivity and employment by being a minority and spending only 5-10% of what they earn. That's how I see it anyway. I haven't studied economics one bit, but can you show me a clear correlation between raising minimum wage and unemployement?
" You can check this out for yourself. Go to your local public library and pick up a copy of the distinguished British magazine The Economist. Whether it is the current issue or a back issue doesn’t matter. Spain, Greece, and South Africa will be easy to locate in the table near the back, which lists data for various countries. Just look down the unemployment column for countries with unemployment rates around 25 percent. Spain, Greece, and South Africa are always there, whether or not there is a recession. Why? Because they have very generous minimum-wage laws. While you are there, you can look up the unemployment rate for Switzerland, which has no minimum-wage law at all. Over the years, I have never seen the unemployment rate in Switzerland reach as high as 4 percent. Back in 2003, The Economist reported: “Switzerland’s unemployment neared a five-year high of 3.9% in February.” In the United States, back in what liberals think of as the bad old days before there was a federal minimum-wage law, the annual unemployment rate during Calvin Coolidge’s last four years as president ranged from a high of 4.2 percent to a low of 1.8 percent."-from a Thomas Sowell article entitled ruinous compassion
"A minimum wage not only discriminates against low-skilled workers but also is one of the most effective tools in the arsenal of racists. Our nation's first minimum wage came in the form of the Davis-Bacon Act of 1931, which sets minimum wages on federally financed or assisted construction projects. During the legislative debates, racist intents were obvious. Rep. John Cochran, D-Mo., said he had "received numerous complaints in recent months about Southern contractors employing low-paid colored mechanics getting work and bringing the employees from the South." Rep. Miles Allgood, D-Ala., complained: "That contractor has cheap colored labor that he transports, and he puts them in cabins, and it is labor of that sort that is in competition with white labor throughout the country." Rep. William Upshaw, D-Ga., complained of the "superabundance or large aggregation of Negro labor."
During South Africa's apartheid era, the secretary of its avowedly racist Building Workers' Union, Gert Beetge, said, "There is no job reservation left in the building industry, and in the circumstances, I support the rate for the job (minimum wage) as the second-best way of protecting our white artisans." The South African Economic and Wage Commission of 1925 reported that "while definite exclusion of the Natives from the more remunerative fields of employment by law has not been urged upon us, the same result would follow a certain use of the powers of the Wage Board under the Wage Act of 1925, or of other wage-fixing legislation. The method would be to fix a minimum rate for an occupation or craft so high that no Native would be likely to be employed."
From a Walter Williams article entitled Minimum Wage Dishonesty
But in reality this video should do enough
[video=youtube;r4SIEl1j8e4]https://www.youtube.com/watch?v=r4SIEl1j8e4[/video]
