However, there isn’t enough research to definitively link pay transparency to pay equality. At U.S. government agencies, most of which are required to publicly release pay information, women make 81% of what men make, according to the 2017 report from the Institute for Women’s Policy Research. In the private sector, where the majority of companies don’t have pay transparency policies, women earn 79% of what their male counterparts make.
likely everyone else just gets paid less in the interest of fairness.. this already happens at tech companies like stripe. "Oh we dont care how many competing offers you have or how qualified you are. we pay everyone the same in the name of "fairness".
You would like to think so, but if we compare Finnish to American payrolls, you would find instead that instead top management gets less, if anybody. But there is more...
Economic prosperity is always most sensitive to what the bottom quarter gets paid, because they are who are obliged to spend what they get immediately.
The greater general prosperity that results benefits everybody else, in sum, more than the increased minimum wage. This was recently demonstrated in Seattle, in practice.
In short: no, you are 100% wrong. You should consider this good news.
just saying that and getting angry doesnt make it true.
urban areas all boomed due to the roaring economy up until covid, especially powered by the large growth in the tech sector there and corporate tax cuts (and seattle's low state tax making it an attractive place to be locate). theres no evidence seattle magically helped everyone by raising minimum wages.
likely seattle did fine despite the minimum wage increase, not because of them. Especially since you have to pay that much to attract workers there anyway because of the insane living costs. Which partially ballooned due to artificial price controls like that. and theres no measuring how many people got their jobs automated away or didnt get hired because of the wage increases.
and seattle has also had an explosion of homelessness and violent crime.
There is good evidence that when wages are public knowledge minorities and women get paid more too...
https://time.com/5353848/salary-pay-transparency-work/