Raise in minimum wage, a poison pill?

Just saw a youtube video: https://www.youtube.com/watch?v=M2ucpEeBfQg which offered 3 points. first, when the minimum wage was raised business for fast food joints skyrocketed. This was seen as an unabashed Good Thing. Working people had more money to spend and they spent it. But apparently they were spending it on fast food. Why? Were they buying a Big Mac on their way to their second job? In other words they were spending more, but to what benefit? We need more home ownership, more retirement savings, not more malnutrition and clogged arteries. Are people spending more, but foolishly because they can, or because they aren't being given enough to spend wisely? Or, if we increase wages will we simply increase garbage and overconsumption? Cal DOT claims that increasing highway capacity 10% increases highway utilization 15%.
Second, the video suggests that business owners are promoting the claim that having to pay higher wages depresses employment (even after it is demonstrated that it doesn't) because they want it to be true. Why? It floats their boat more than profits. I contend that for many, perhaps most, American business owners, the power to fire, or to force someone to work in misery, offers greater gratification than to treat someone decently.
Third, the video offers that automation will destroy jobs eventually, but that we must do what we can until that happens. To that I can only add that it will happen faster than we think, and that we must not only make the descent as painless as possible, we must also prepare for the aftermath. And we must also come to the realization that not only is it inevitable, it is preferable - but only if we do it right.

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I have a hard time with discussing how poor people should spend their money.

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"Religion is what keeps the poor from murdering the rich."--Napoleon

Where do we draw the line? First responders? The legal system? Politicians? Social workers?

Which positions should be reserved for "humans only"? Will that lead to only those coveting power to rule, or only those that are altruistic in caring for others to serve?

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Fighting for democratic principles,... well, since forever

Alligator Ed's picture

@fight2bfree Telemedicine. The type I know about most is telemedicine neurology. The purpose of this is to "place" neurologists in communities underserved by that profession. Other specialties may also be using telemedicine in this fashion. Ostensibly, the purpose is to provide remote or underserved communities with medical care they would otherwise not receive.

My suspicion is that this seemingly altruistic goal will morph into something much more sinister. As time has gone on, more and more private and group practices are being sold to hospitals. (Don't believe the bushwah about not-for-profit hospitals, which exist only in the land of Oz). Hospitals are always keen on making a buck anyway they can. In fact they perfected the Wells Fargo scams even before Wells Fargo became a thing. In my opinion, hospitals will not only phase-out NPs (nurse practitioners and PAs (physicians assistants) but they will "trim" the number of expensive physicians needed to oversee the so-called "healthcare extenders". So in twenty years, or sooner, when the technology improves, you can expect to hear" "Doctor Robot will see you now".

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I also think a big part of this is the lack of proper education especially when it comes to dealing with money.

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@pro left

If people lack the money, time and energy to travel however far to purchase relatively few groceries, but can stop between jobs to pick up a relatively cheap fast food meal, this is going to happen.

Believe me, the poor have to learn how to manage their money to the bone in order to eat at all. Provide everyone with a living wage and access to healthier foods, and the bulk of people will have far better diets - but crap fast food is better than nothing to the hungry.

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Psychopathy is not a political position, whether labeled 'conservatism', 'centrism' or 'left'.

A tin labeled 'coffee' may be a can of worms or pathology identified by a lack of empathy/willingness to harm others to achieve personal desires.