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People think raising minimum wage will increase their standard of living, they argue that Europe has high wages and they're somehow doing great. This may work out in the short term, but the prices of other things will continue to raise as well. Think when you go to the store- chicken may be 7 or 10 dollars one week, then it goes up for any variety of reasons. But your wages are still the same, so you demand higher wages. Even if your wages did increase, down the road your cost of living would continue to increase, putting you right back where you started.
So it's not that you want the minimum wage to go up, you really want the cost of living to go down.
What do you think?
People think raising minimum wage will increase their standard of living, they argue that Europe has high wages and they're somehow doing great. This may work out in the short term, but the prices of other things will continue to raise as well. Think when you go to the store- chicken may be 7 or 10 dollars one week, then it goes up for any variety of reasons. But your wages are still the same, so you demand higher wages. Even if your wages did increase, down the road your cost of living would continue to increase, putting you right back where you started.
So it's not that you want the minimum wage to go up, you really want the cost of living to go down.
What do you think?
Agreed. It is a never ending cycle that no one will win simply by thinking that way. I am a student of getting out of the rat race and have learned much about money education and how to think and act like a different person.
When you make only minimum wage of course you want a higher wage. Only those people who make much higher wages see no need to give anyone making so little more money!
When you make only minimum wage of course you want a higher wage. Only those people who make much higher wages see no need to give anyone making so little more money!
That's not what I'm saying. People working minimum wage don't understand that as their wages increase, so does cost of living. COL is constantly going up, so even if they raise their wages things will seem just as expensive as before. Even people making higher wages see this. We need to have the COL go down to encourage consumer spending, which will hopefully pump more money back into the economy.
When you make only minimum wage of course you want a higher wage. Only those people who make much higher wages see no need to give anyone making so little more money!
when you work minimum wage, you realize that it isnt a career... and you get a better paying job, there's your salary increase right there
when you work minimum wage, you realize that it isnt a career... and you get a better paying job, there's your salary increase right there
Ah but those better paying jobs in many cases have been offshored, leaving many unable to use the traditional path of constant improvements in life through better jobs as experience is gained. Yes, many manufacturers and service providers have pursued sub minimum wages in their never ending quest for higher profits and higher compensation for those at the top, while contributing to the ever growing welfare class here at home.
Its almost like people posting this are in complete denial that inflation is a thing that occurs whether the minimum wage goes up or doesn't.
For those unaware-inflation keeps occurring even if we dont increase the minimum wage. Your argument is literally "Lets ignore inflation and just let the minimum wage keep dropping, because if we don't there will be inflation"
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Quote:
Originally Posted by baileytinn
That's not what I'm saying. People working minimum wage don't understand that as their wages increase, so does cost of living. COL is constantly going up, so even if they raise their wages things will seem just as expensive as before. Even people making higher wages see this. We need to have the COL go down to encourage consumer spending, which will hopefully pump more money back into the economy.
Cost of living will increase at a far slower rate, by the time it does, most people would hopefully be making way more than minimum wage. Y'all overstate the rate of inflation. Raising minimum wage isn't a solution but it is a very necessary boost.
(By most people, I mean most people making minimum wage TODAY. Like, someone who just got their first job today in 2015.)
Its almost like people posting this are in complete denial that inflation is a thing that occurs whether the minimum wage goes up or doesn't.
For those unaware-inflation keeps occurring even if we dont increase the minimum wage. Your argument is literally "Lets ignore inflation and just let the minimum wage keep dropping, because if we don't there will be inflation"
This was the union mantra with regard to the whiny charge that our raise would just be eaten by higher prices, we countered with the fact that prices rise regardless of any union action. For those of my non union neighbors, and friends who never got much in the way of compensation I realized their whiny tune had more than a tinge of envy to it. And yes, most union raise were in fact a response to rising prices rather than a an initiator of them..Some people aren't all that well educated on labor affairs but have the unfortunate experience of hearing tons of anti worker BS on TV and radio..
That's not what I'm saying. People working minimum wage don't understand that as their wages increase, so does cost of living. COL is constantly going up, so even if they raise their wages things will seem just as expensive as before. Even people making higher wages see this. We need to have the COL go down to encourage consumer spending, which will hopefully pump more money back into the economy.
This is a self-defeating argument. Wages should stay stagnant because the cost of living is going to go up anyway? You're making the childish "why should I take a bath if I'm just going to get dirty again" argument. If wages continue to stagnate while the cost of living continues to rise the working poor are going to be even poorer.
How do you not connect these dots?
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