cross-posted from: https://infosec.pub/post/916523
Sen. Bernie Sanders is once again calling for a higher federal minimum wage. The current rate has been $7.25 since 2009.
Something I don’t understand is why is a specific number tied to the minimum wage. Is there not a legitimate mathematical way to calculate “minimum wage” depending on where you live and your local economy?
As long as I get a 9.75$ bump in my salary I’m ok w/ this. Otherwise all us that make more than that take a hit because it will cause inflation.
The idea that a minimum wage increase causes inflation is a Fox news fantasy, not real life.
“Historical data supports the stance that a minimum wage has had a minimal impact on how companies price their goods and does not materially cause inflation.”
https://www.investopedia.com/ask/answers/052815/does-raising-minimum-wage-increase-inflation.asp
What I think a lot of people who are against this are forgetting, is that this type of thing can be great in the long run. I’m sure a $10 jump would hurt some businesses, but it should also be on those businesses to manage their finances to handle it.
You’re in a union or job where you make a dollar over the new minimum despite having lots of schooling to get there? Hey, now you have a great reason/excuse to rally together and demand an equivalent raise of your own.
Minimum wage increasing would also mean that more money would go back into the system through taxes and spending, instead of having it just sit in a few people’s bank accounts.
