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quote:This is also the same bill that lowers minimum wage from $7.25 to $4.25 for people under 25. What the gently caress? What could possibly be the justification for that? That's not even austerity, it's just pissing in their face for no real purpose.
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Jun 30, 2016 18:39
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That just means the minimum wage cut will be even more destructive to the people of Puerto Rico, who will actually see real wage movement downward rather than some relatively niche changes. And it doesn't even help with the debt situation outside of trickle-down fever dream scenarios.
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Jun 30, 2016 20:26
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tsa posted:Interestingly enough it ain't the professional leaving, it's the uneducated (because in part what extremely high min wage laws <relative to economic productivity> cause massive unemployment.) The best way to do this is on the backend through welfare, as it's much less distorting. Of course pr doesn't have the money for that either. There's so many problems in Puerto Rico and you think that the lack of opportunity really comes down to minimum wage? You think flipping the switch to poverty wages is going to cause an economic renaissance? Seems like you're the one who believes minimum wage laws are magic. Best case scenario is this brings back a few lovely sweatshops all the young workers lucky enough to have a job learn to live with a lot less money.
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Jul 4, 2016 20:21
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Gyra_Solune posted:how is hawaii doing these days anyway? and like, what makes hawaii not in terrible crisis when ostensibly it's much the same as puerto rico except anything shipped there has to go way farther out? Hawaii is basically kept afloat by tourism and real estate, so while its economy isn't really sound in the long term (real estate isn't a real industry, lol), it's not a failed state or anything like that.
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Jul 5, 2016 01:32
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