I actually advocate a living wage, but living in the real world have to settle for, possibly, a raise of the minimum wage. From what I have discerned, raising the minimum wage really has a small impact on inflation. And I don't think the impact on economic activity is that much larger. I think it's pretty small all around, so I don't see the downside. It improves people's lives. Marginally? Yeah, unless we moved to a living wage any raise in the minimum wage isn't going to be big enough to make huge changes in someone's life.
I would love to spend more money on job training!
But what you are doing, is accepting a fallacy that we can somehow generate money from thin air. You've read someone's opinion that we can raise the MW and it won't cause inflation, and you just accept that is true and move on. Again, we don't have magic money trees, the actual money to raise the pay has to be generated from some source, and really, the only viable source is the consumer.
It's also a fallacy that it "improves people's lives" ...it simply doesn't do this, and we can look at the 40 years of history as proof. We haven't "improved the lives" of those living on minimum wage, they are still in the same boat they were in 40 years ago. They make more money, and things cost considerably more... we've not HELPED anything. We've driven prices up through inflation, while chasing our tails, and we will continue to see the same thing happen over and over.
"Living wage" is just the minimum wage idea (which hasn't worked) on steroids. It won't work either... Oh sure, for about a month, or maybe even the first fiscal quarter, it WILL work! People will have all this 'extra' money in their paychecks and everything will be great.... until the market adjusts to having to pay for it, then prices will increase to a higher level, and we're right back to square one, the 'living wage' is no longer sufficient and needs to be raised again. Hell, we can pay people $20 an hour if you think that is going to help... but how does it help if rent goes from $400 a month to $4000 a month? If milk goes from $5 to $50? They now have bigger paychecks, but everything costs more... and what about those who don't get bigger paychecks, like people on fixed incomes...their prices are rising too, and they aren't getting this extra windfall.
Spending more on job training (something we're already doing) is a fine idea, and I have less problem with that, than raising the minimum wage. If Liberals were here clamoring for more appropriations for job training, I wouldn't be vehemently opposed. At least that would be something that MIGHT help... raising the minimum wage is not going to help anyone.