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Answer: Because that is what it takes to hire and retain people with the skills they want. Supply and demand. However, this is not justification to tell McDonald's they need to pay burger flippers $15/hour. Different skill sets are worth different wages.
Why is it practical to keep wages inline with inflation.
There is several flaws with this....first no one is discussing wages in general...the question is why is it practical to keep minimum wages laws inline with inflation. Second, if you are implying the government has a responsibility to keep all wages in line with inflation then that would explicitly imply you believe in price fixing specifically fixing the price of labor.
Quote:
Originally Posted by ContrarianEcon
For these four reasons it is probably practical to have the bottom's wages lead inflation.
Now you shift the goal post to bottom wages instead of all wages as indicated in your first sentence.
I think people who are arguing that minimum wage should be $15 an hour are shooting too low. Who can live on that? I think it should be more like $20. What do you think?
I make $20/hour. I'm a certified Math/Generalist 4-8 teacher. I do Math/Reading tutoring in area schools. I have a college degree and state licensure to teach.
A 16 year old with no experience can make the same amount by standing there and saying "Would you like fries with that ?"
A 30 year old dropout who job hops from one FF place to another can also make the same $20/hour.
An immigrant that speaks no English and has a 5th grade education can sweep floors and clean tables at McDonalds for $20/hour, same as I make.
Yeah..push that $20/hour. When amnesty passes every illegal that just became legal will take over the service industry for $20/hour.
I make $20/hour. I'm a certified Math/Generalist 4-8 teacher. I do Math/Reading tutoring in area schools. I have a college degree and state licensure to teach.
A 16 year old with no experience can make the same amount by standing there and saying "Would you like fries with that ?"
A 30 year old dropout who job hops from one FF place to another can also make the same $20/hour.
An immigrant that speaks no English and has a 5th grade education can sweep floors and clean tables at McDonalds for $20/hour, same as I make.
Yeah..push that $20/hour. When amnesty passes every illegal that just became legal will take over the service industry for $20/hour.
Which would you rather do? tutoring or "would you like fries with that?"
Its comical you think it really matters what any of us thinks about what someone "should be paid".
What? You are unwilling to support anything you say so I do not engage with you when you make absurd and frankly irrelevant comments when considering the context. You fail to understand that my questions always center on the "why" not the "what".
So what you are saying is you have never paid any attention to how minimum wage has been raised in the past? Do you seriously think the government would raise it to $15/hr overnight?
This example depends on what happens to wages relative to the general price increase. In some periods, when unemployment has been low and workers relatively powerful, wage increases have been greater than the rate of inflation—e.g., from the mid-1940s to the early 1970s. In subsequent years, with the conditions of labor very different, wages in general have barely kept pace with inflation. When working people do not have the power to defend themselves, they will most often be harmed by inflation. This is especially true when there are sudden upward spikes in the prices that form a large share of what people buy—as was the case with food and fuel prices a few years ago.
So what you are saying is you have never paid any attention to how minimum wage has been raised in the past? Do you seriously think the government would raise it to $15/hr overnight?
Wow. You just do not get it. Whether they do it all at once or over a period of time, its irrelevant.
Spoiler
If minimum wage does what you all says it does it shouldn't matter how its implemented.
Wow. You just do not get it. Whether they do it all at once or over a period of time, its irrelevant.
Spoiler
If minimum wage does what you all says it does it shouldn't matter how its implemented.
If I pour out 5,000 gallons of water on you, if I do it all at once, or 2/gallons per minute, it shouldnt matter....right?
Heres a clue-ones good for you and get you clean, the other one might kill you.
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