Aspen Anti-Billionaire Society

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A community dedicated to spreading awareness of the negative impacts of the billionaire class, especially the 250 richest people on the planet

We believe that the existence of the 0.01% comes at a cost to the rest of us, even multi-millionaires, and hope to spread awareness of this problem among the 1% (who have the most resources to affect change)

All discussion and links related to wealth inequality and related activism are welcome. We hope that this community can serve as an easily accessible repository of information about wealth inequality

Please meet disagreement with civility so we can foster productive discourse

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ToastedRavioli@midwest.social

Raising the Minimum Wage Through Tax Policy - Emmanuel Saez (Professor of Econ, UC Berkley) and Gabriel Zucman (eml.berkeley.edu)

submitted 1 day ago* (last edited 1 day ago) by ToastedRavioli@midwest.social to c/aspen_anti_billionaire_society@midwest.social

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Interesting paper that offers one perspective of using tax policy to achieve the same overall effect as a minimum wage increase, and worth some discussion IMO. Link is directly to a pdf of the paper itself

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[–] FuckyWucky@hexbear.net 2 points 1 day ago* (last edited 1 day ago)

Ofc the author is arguing for such a policy because an actual min wage increase won't pass congress.

Regardless, a minimum wage isn't the floor wage. There are workers on tips who can earn lower than min wage workers. There are undocumented and even documented migrants who earn less than citizens, many times less than min wage. Even among citizens there is disparity, though they are typically paid atleast the min wage.

To have an actual floor wage which no private employer can break, you'll need a universal job guarantee which will have the Gov set the wage and employ anyone at the said wage. This forces the private sector to pay everyone including undocumented migrants the said wage.