People are bad at saving money, increase minimum wage and they'll just spend the extra, increasing companies revenues, allowing them to pay the higher minimum wage. In the end the employee is able to afford more stuff, the company doesn't feel the impact, everyone is happy!
this post was submitted on 18 Sep 2024
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California recently increased minimum wage, and despite this, people still live there.
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Where I live, Washington, the minimum wage is $16.28 p/hour. Across the border in Idaho, the federal minimum applies — $7.25.
Businesses on the higher-wage side of the border are doing fine, and Spokaners do not drive across the border into Coeur d'Alene for cheaper groceries or a half-price Big Mac.
Spokaners do not drive across the border into Coeur d’Alene for cheaper groceries or a half-price Big Mac.
I actively boycott any and all ID businesses, because of the state's shitty labor and reproductive-rights laws and its nurture of Christofascism. They can Gilead all they want but it won't be with my financial support.
They just come into WA for the medical center and clog up the system. ID residents should be banned from receiving medical care in WA.
ID residents should be banned from receiving medical care in WA.
But I think accelerationist policies often hurt vulnerable people...
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Raise minimum wage? No, tax cuts for only certain low wage jobs instead. What are you gonna do, vote for the other parties we've forced off the ballots?
The only thing increasing minimum wage must do is take money out of the wealthiest pockets.
And that's why wages stay stagnant.
Every other argument is a red herring.
This has been studied over and over and always with the same results. The economy isn't hampered, jobs aren't replaced by machines and overseas workers, the cost of goods doesn't go up, and factories don't close. The main impact is that quality of life increases, health spending increases (now that people can afford to take their kids to the doctor), and corporate profits decrease very slightly.
Especially in this economy of runaway corporate greed, we need a meaningful increase in wages
Especially in this economy of runaway corporate greed, we need a meaningful ~~increase in wages~~ revolution to eliminate those corporations and the systemic rewarding of greed.
The fact that they could increase wages and still make money while improving society but don't, is why they don't deserve any more benefit of the doubt, or room to continue hoarding wealth and power as they are, because a system that craves constant growth at any cost will never stop on its own (nor provide paths for reform).
All of those things do happen, they just happen irregardless of minimum wage being raised. Like, the machines are coming for all jobs eventually, that's not a reason to not raise the wage for living workers.
What's your point? Because it sounds like you are saying people don't deserve a living wage.
That's not at all what I said. Everyone deserves a living wage and the US min wage is insultingly low.
So again, what's your point.
I was agreeing with the person I was replying to, but reframing it. Automated jobs and outsourced jobs are not caused by increases to minimum wage.
~~Irregardless~~ regardless
corporate profits decrease very slightly
This is the thing that people will reflexively point to, but this:
quality of life increases
This is the real issue. If quality of life increases, workers are less desperate, and are less willing to put up with their employers BS. Moreover, if other jobs are also paying a living wage, it's much easier to quit.
We have seen, over and over, that businesses are willing to spend money to exert control over workers. They'll do it even if it means a decline in profits, or even in revenue. Because at the end of the day, if you have your needs met, any money left over is just power, and power is meant to be used to control others.
Oh jobs are replaced by machines, it just has almost nothing to do with minimum wage. Machines cost pennies on the dollar for production value compared to humans. The human wage is pretty meaningless at that point, even forced labor is less profitable.
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Economic models keep most numbers fixed to simplify their math. They call it ceteris paribus.
So when economists claim that increasing wages will reduce the amount of jobs, they came to that conclusion by keeping corporate profits fixed while doing their math. So any business expense is paid for by reducing workers or wages.
In the real world corporate profits are not fixed and have grown faster than wages for decades.
Keep that in mind if an economist ever tries to claim increasing wages will reduce the quantity of jobs.
Right. The problem is, CEOs maintain that as “responsibility to their shareholders” to ensure their Q4 earnings reports prove continuous growth. So prices will inevitably increase, or overhead will be reduced to maintain those margins.
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If its a real business and not a grift or privtization of gains/socialization of losses, they will pay closer to the right wage to have the right people fill the chair