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Apparently we live in a country where right wingers think making $31K a year is a high dollar wage that only those with lots of skills should be able to earn because it must still be 1980 inflation rates going on right now.
Or, you know, there are a lot of jobs that aren't viable at $15 minimum wage, including a number of starter positions that young people use as the first rung on their career, and there are a lot of skilled people making about ~18-20 an hour who would suffer disproportionately from the inflation and wage-compression this would cause. You can think a $15 minimum at the current time is a bad idea while also understanding that it is still a low wage for someone with material marketable skills.
Minimum wage is irrelevant. Raise it to $50 an hour, my only request is you do it slowly so business's can adjust. You'll still only be able to buy what your labor is worth for one hour. The dollar represents the value of your labor, the value of your labor isn't going to change simply becsue you changed the dollar amount.
Maybe we should lower wages across the board to compete better with the rest of the developed world instead of raising them even further which is already leading to economic detriment here. Lower wages, costs of goods/services drop, and we can sell more product to countries while manufacturing them here. I would rather have a few billion customers than a few hundred million.
Maybe we should lower wages across the board to compete better with the rest of the developed world instead of raising them even further which is already leading to economic detriment here. Lower wages, costs of goods/services drop, and we can sell more product to countries while manufacturing them here. I would rather have a few billion customers than a few hundred million.
The biggest problem I see with your argument is that the debts we have wouldn't be downsized as well.
U.S. National Debt Clock : Real Time
Personal debt is closing in on $17 trillion. Downsizing our wages to meet their would make our debts far harder to repay. Upping their wages to meet our on the other hand would help everyone out.
Or, you know, there are a lot of jobs that aren't viable at $15 minimum wage, including a number of starter positions that young people use as the first rung on their career, and there are a lot of skilled people making about ~18-20 an hour who would suffer disproportionately from the inflation and wage-compression this would cause. You can think a $15 minimum at the current time is a bad idea while also understanding that it is still a low wage for someone with material marketable skills.
The problem is the inflation has already happened, the wages, especially at the low end, have not kept up with that inflation. That is why we see people trying to say $31K a year is too much for an entry level position to be making.
In reality, today's inflation, a full time minimum wage job should pay $24K a year. That would put the federal minimum wage at $12/hr.
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