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All the previous poster is saying is that a minimum wage increase would not place that much upwards pressure on inflation, which is true.
by meko 8y ago
All the previous poster is saying is that a minimum wage increase would not place that much upwards pressure on inflation, which is true.
- MereInterest 8y agoIn that case, I grossly misinterpreted the tone of the comment, and apologize for it. I (and baldfast) had interpreted throwaway080383's comment as implying that he will be worse off from this legislation, as the increase in minimum wage will result in inflation, leading to no effective change in inflation-adjusted minimum wage, but a strong decrease in his own inflation-adjusted minimum wage. This is the standard conservative viewpoint that I've seen, which is repeated frequently, and is why I reacted so strongly to it.
- throwaway080383 8y agoDamn, yes I could see how my original comment would naturally be interpreted that way. To be clear, what I meant to get across was that the wage increase was not going to be a no-op due to inflation or whatever; it will make those people's lives measurably better in the short-to-medium term because not everyone's wages will be doubled at the same time. Yeah, technically, I will be slightly worse off in the short term because Amazon will cost a little more or my dollar will go slightly less far, but I'm perfectly fine with that if it means tens of thousands of families can now feed their kids or go to the hospital. In the long run, my hope is that those kids will be more productive/innovative, which is good for everyone.