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Bingo…It’s obvious few ever took an economics class, and certainly obvious these same folks didn’t pay attention in history class. Hopefully those that voted for this clown show are suffering the most.
You want a history lesson? In 1955 the minimum wage was $1.00/hour. That's 67 years ago.
Wages have NOT kept up with the cost of living, and that is a FACT.
I remember because it was not that long ago. The Left was telling us that someone working at McDonalds needed to make a "living wage". They settled on $15 per hour as the new mini and that is why a meal at Mcdonalds is $10+ . My wife and I were out and about around lunch time a few weeks back and we had a hankering for some fries. I don't like McDonalds but it was right there so we pulled in, placed our order and $23 later we were both asking why did we just do that for this gross food?
During all the crazy times when the Dems were demanding the $15 per hour we asked a very Liberal Trump hating friend if he would pay his employees in his small shop that much and he said, no way I would go out of business, well last year he was paying more than that due to the market rate of decent help.
Pretty much all the raises that people got have been eaten up by inflation and then some.
I really believe that half of our elected in DC would fail at running a lemonade stand.
I stopped in at McDonalds yesterday. Got two McChicken sandwich’s off of the 2 for $2 value menu and a large drink for a grand total of $3.25.
Location: New Albany, Indiana (Greater Louisville)
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Many are overlooking that we are now running a nationwide test program of $15+ min wage. Even in my liw COL area $12+ is what entry level workers now make.
We tried to tell them inflation would rise even faster, putting people further behind in the end.
Welp here we are. Real wages falling. Inflation raging past wages the likes of which some people have never experienced in their lifetimes.
Young people never understand economics, until it comes around and bites them in the ass. And if they are Democrats, they never learn even after theirs asses have been completely chewed off.
Remember this all next time someone comes up with the brilliant idea to raise the minimum wage to $50/hr to fix everything.
Said the person that voted for Biden......
Hindsight is 20 20
There is a lot more driving up the prices than the people making minimum wage.
We tried to tell them inflation would rise even faster, putting people further behind in the end.
Welp here we are. Real wages falling. Inflation raging past wages the likes of which some people have never experienced in their lifetimes.
Young people never understand economics, until it comes around and bites them in the ass. And if they are Democrats, they never learn even after theirs asses have been completely chewed off.
Remember this all next time someone comes up with the brilliant idea to raise the minimum wage to $50/hr to fix everything.
Yeah, well the last time minimum wage was decided was July 24, 2009 and it has been set at $7.25 for the past 13 years. Work a months wages on that, try and meet your bills and then come back with how the economy is doing. Trust it isn't the minimum wage, that's the problem.
You want a history lesson? In 1955 the minimum wage was $1.00/hour. That's 67 years ago.
Wages have NOT kept up with the cost of living, and that is a FACT.
Entry level jobs are/were not intended to raise a family on. They cater to students, part time workers, etc… Want a better wage, one needs to better themselves versus expecting others to pay their way.
I paid attention in history and economics class. Printing and borrowing huge amounts of money, and extending it, adding to it, and letting folks live rent free while sOOO many jobs are available makes zero sense and is a terrible waste of money, and that was just the start.
Yeah, well the last time minimum wage was decided was July 24, 2009 and it has been set at $7.25 for the past 13 years. Work a months wages on that, try and meet your bills and then come back with how the economy is doing. Trust it isn't the minimum wage, that's the problem.
Minimum wage jobs weren’t intended to live or raise a family on… Expecting otherwise is a very poor plan for one’s economic future.
We're talking about entire economies, not individual businesses. Of course, wages are passed onto the consumer in a closed-loop transaction. What people don't talk about is that the amount cost-passing is a function of % labor cost of a final product, which ranges from very large to small. But that's another discussion.
But the implied theme of this thread is that wages are the main driver, as opposed to the minor driver it is. Silly, considering we've had a monstrous global epidemic/shutdown, funny stuff on Russia's end, maybe gas is a big part of this equation? Nah, it's the burger flippers making too much! Which, by the way, is partly free market magic. In my area, they will not find a soul for minimum wage. They make for no-brainer easy targets for corporate propaganda.
Record corporate profits during and after a pandemic despite those mean business-murdering wage increases? Never heard of her! Do those not cause inflation economy-wide? Only the peons?
And please explain how to cause real wages to go up. Do we all take a paycut? Don't say productivity, that clearly didn't work for the past several decades. All the money got sucked to the top, like it's designed.
To the bolded part - No, that is not the implied theme of the thread.
If there's one thing you learn about human nature is that telling somebody something is useless... people have to experience it for themselves and then change their behavior, or not. We don't learn from past mistakes because we think "this time it's different" or we just want to experience it for ourselves... we think we have a God given right to do so.
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