If you belive minimum wage should allow someone to support a family of 4 then that seems consistent.<p>I personally do not feel that it is reasonable to assume that minimum wage should support more than the basic needs of an individual.<p>If we raise the minimum to $104k a year, then what do we pay first responders and teachers?<p>Who is going to purchase the $50 mcdonalds big mac's and grande lattes?
Irrelevant to the point of being comical.<p>"Price what the market can bear" is the cornerstone of real estate. And let's not forget about price as a function of supply and demand.<p>That is, wages will increase, and housing will gladly follow. $50 p/hr will get sucked up in no time - unless supply is increased significantly. $50 p/hr will increase what the market can bear; it's also increase demand (e.g., couple who couldn't afford to seperate will now do so).<p>And so on.<p>Time and again we see such manipulation go wrong (e.g., student loans and the cost of higher edu), and yet we keep dreaming that never time it'll be different. The naivete is embarrassing.
Is there any discussion on a variable minimum wage based on relative factors like company size, profit margins, etc.? Instead of a global minimum, just add factors that target whatever problem needs to be solved. Surely nobody wants to bankrupt small businesses that have good employee relationships and make little profit. No reason to slash those jobs. A global minimum seems like performing surgery with gardening scissors. Are these politicians that void of creativity or are they uninterested in actual solutions?
Stupid people don't understand it will make all costs rise and we won't end up in the same situation, but a worse situation because there will be higher markups as well (just about every business did this after the covid shutdowns)<p>People are stupid and I'm convinced these people want to destroy the country. When you raise wages, things like automation will happen much faster and people will have to do more work and there will be a ton of layoffs
Should be about $100 if we are to preserve the purchasing power that the original minimum wage had when introduced.<p>>mow lawns for a summer<p>>brand new Mustang
> Just do that math. Just do that math,” Rep. Lee said. “Of course we have national minimum wages that we need to raise to a living wage. You’re talking about 20, 25 dollars, fine. But I have got to be focused on what California needs and what the affordability factor is when we calculate this wage.”<p>Can she do math?