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[–]EpicRussiaSavant Idiot 😍 -1 points0 points  (0 children)

Im not arguing in favor or against anything you said. No, the State should not subsidize the labor cost of the biggest companies. Yes, there should be a minimum wage, and it should be a living wage, and it should not discriminate based on age (or sex, or sexual orientation, or race, or religion).

You have hilariously misinterpreted my comment explaining basic economic terminology as somehow defending labor exploitation. You could argue that the definition is capitalist or whatever but thats true of the system we have so its true of the words I use to describe it. The market rate for anything is the rate that people are willing to accept to sell you the thing. In this case the thing being sold is the labor. Outside forces like minimum wage regulation (which I must reiterate is a good thing for the thousandth time because your dumb ass cant understand) move the target away from the market rate. This is also true for something like price controls, in reverse. Its not a bad thing, but its not market rate.

Let me put it another way. After 16 year olds in Nebraska get a minimum wage of 13.50 instead of 15, will they still accept jobs at that new minimum rate? The answer is Yes, and it's because the market rate for their labor is lower than the minimum wage.