4 ms·
Raising the minimum wage is only a band-aid. Within a few short years, inflation picks up and your $15/hour won't really go as far anymore. Australia and Scan
by lostmymind66 7y ago
Raising the minimum wage is only a band-aid. Within a few short years, inflation picks up and your $15/hour won't really go as far anymore.
Australia and Scandinavian countries are good examples of this in action: high minimum age, but everything is ridiculously expensive.
It's much better if we provide education, so people better themselves and increase their value in the workplace.
I feel like this is only used by the politicians, who don't really care about people getting out of poverty, and want people to not only vote for them (for getting a government-enforced raise), but be dependent on them for life.
- NeedMoreTea 7y agoUK's experience since introducing a minimum wage doesn't bear this out. All the warnings of inflation, fewer jobs and so on were given. They haven't come to pass. Even those you might expect to stand against a minimum wage, like some of those bodies and the Tory party who argued hard against its introduction, have called for increases beyond inflation.
- lostmymind66 7y agoThe minimum wage was set only to $4.71/hour in 1999. The reason there was no inflation is because most companies were probably paying somewhere around this wage already. Just because there was no minimum wage set, doesn't mean there wasn't a minimum wage dictated by the free market. Let's try doubling it, like having a $15 minimum wage and see what the actual changes would be.
- phonon 7y agoThe current proposal is to index it to wage inflation after it's $15/h "increased from such amount by the annual percentage increase, if any, in the median hourly wage of all employees as determined by the Bureau of Labor Statistics; and" https://www.congress.gov/bill/116th-congress/house-bill/582/text https://www.congress.gov/bill/116th-congress/house-bill/582/...