9-9-9 seems worse than I orgininally thought

[Chaos]

Can anyone give me an example of a building code that impedes economic growth?

Simple. If you are no longer required to build buildings in a way that they last more than a few week before they collapse, you get to rebuild them every so often. That has got to improve your business opportunities.

 

[Tsukasa Buddha]

The Minimum Wage law is the cruelest joke of all on the poor, the young, the unemployed preventing them from getting a leg up, getting some experience, and getting out of the welfare hand-out gutter.

Except that most studies of the real world don't really fit with such neo-liberal economic ideas.

 

[I Ratant]

9-9-9 seems lacking in many aspects.
The debate on it will be quite interesting/volatile!

 

[AlBell]

The Minimum Wage law is the cruelest joke of all on the poor, the young, the unemployed preventing them from getting a leg up, getting some experience, and getting out of the welfare hand-out gutter.

Except that most studies of the real world don't really fit with such neo-liberal economic ideas.

Have a cite that backs up your thinking?

The AFL-CIO is certainly sputtering about the idea. The Dems need all the union dues cash they can get.

 

[Joey McGee]

In this day and age someone who thinks that homosexuality is a choice isn't fit for polite conversation let alone the highest office in the country, but that's just me.

 

[Tsukasa Buddha]

Have a cite that backs up your thinking?

The AFL-CIO is certainly sputtering about the idea. The Dems need all the union dues cash they can get.

A century has passed since the first call for a British national minimum wage (NMW). The NMW was finally introduced in 1999. It has raised the real and relative pay of low wage workers, narrowed the gender pay gap and now covers around 1-worker-in-10. The consequences for employment have been extensively analysed using information on individuals, areas and firms. There is little or no evidence of any employment effects. The reasons for this include: an impact on hours rather than workers; employer wage setting and labour market frictions; offsets via the tax credit system; incomplete compliance; improvements in productivity; an increase in the relative price of minimum wage-produced consumer services; and a reduction in the relative profits of firms employing low paid workers.

Linky.

This paper analyzes the effects of the minimum wage on wage inequality, relative employment and over-education. Using an efficiency wage model we show that over-education can be generated endogenously and that an increase in the minimum wage can raise both total and low-skill employment, and produce a fall in inequality. Evidence from the US suggests that these theoretical results are empirically relevant. The over-education rate has been increasing and our regression analysis suggests that the decrease in the minimum wage may have led to a deterioration of the employment and relative wage of low-skill workers.

http://ssrn.com/abstract=1596005

Though, personally, I prefer the Scandinavian model of having labour unions set minimum wages. This seems to result in a higher wage floor (linky) and better labour relations and greater union density (linky). So perhaps this wouldn't work out the way Cain hopes .

Also, there are interesting studies out there about minimum wage, the EITC, and progressive income taxes, but given the 9-9-9 plan I won't bother posting them .