Only if that includes what they make from all sources. I could see them being bribed into reducing their pay and framing it as a selfless move for bucket-crab voters. Their new owners will make the investment back as soon as employee pay gets adjusted back down.
I feel like many “cost of living” type laws need to be pinned together. For example the 401k yearly contribution limit and tax brackets should be defined as a multiple of minimum wage and not raised automatically each year without it.
This thing is just theater. This is like asking for paleontological accuracy in a Godzilla movie. It’s an important detail in reality but not in these theatrics.
its performative for election, almost everywhere even in red states has raised the minimum wage since. remember one of the dem senators was introducing a bill about our flag, that amounts to nothing.
Moving the goal posts for someone else doesn’t negate the original comment’s thesis. Raising minimum wage doesn’t increase inflation, because as we’ve seen inflation has already gone up.
Raising minimum wage (especially when tied to inflation and regional cost of living) often provides people with more spending power and work life balance. More money flows thru the economy while also allowing savings to increase. It can also cause other skilled labor jobs to see an increase in wages, and higher union attendance.
There are always doomsayers saying raising the minimum wage will do <insert economic doomsday opinion>. And over and over it’s shown to not have that effect. What it does in improve the lives of millions of people.
And pin it to an inflation index maybe?
Pin it to congressional compensation.
Pin it to the sum of all campaign contributions and congretional “gifts”.
Only if that includes what they make from all sources. I could see them being bribed into reducing their pay and framing it as a selfless move for bucket-crab voters. Their new owners will make the investment back as soon as employee pay gets adjusted back down.
Damn this is an amazing idea.
They would just stop increasing their comp and accept more
bribesdonations.They pinned it to median income.
Tying it to the mean would be better. When the top 10% of earners are doing 50% of the spending, the median is useless.
Pin it to cost-of-living.
I feel like many “cost of living” type laws need to be pinned together. For example the 401k yearly contribution limit and tax brackets should be defined as a multiple of minimum wage and not raised automatically each year without it.
This thing is just theater. This is like asking for paleontological accuracy in a Godzilla movie. It’s an important detail in reality but not in these theatrics.
It will definitely increase inflation.
That thing that’s already gone up in the last 16+ years without the minimum wage doing up once?
Multiple things can cause inflation. And inflation can raise more or less.
It’s not a binary thing.
its performative for election, almost everywhere even in red states has raised the minimum wage since. remember one of the dem senators was introducing a bill about our flag, that amounts to nothing.
$7.25 in this red state…
Moving the goal posts for someone else doesn’t negate the original comment’s thesis. Raising minimum wage doesn’t increase inflation, because as we’ve seen inflation has already gone up.
Raising minimum wage (especially when tied to inflation and regional cost of living) often provides people with more spending power and work life balance. More money flows thru the economy while also allowing savings to increase. It can also cause other skilled labor jobs to see an increase in wages, and higher union attendance.
Pay people better. Don’t simp for the oligarchs.
When you lose your job scrounging up .20 cents for bread is easier than $10 regardless of inflation.
There are always doomsayers saying raising the minimum wage will do <insert economic doomsday opinion>. And over and over it’s shown to not have that effect. What it does in improve the lives of millions of people.
Studies show a 10% raise in minimum wage causes only 0.36% increase in prices.
What’s upjohn?
Similar to updawg I’d assume.
Absolutely, but so does everything else.