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Unnecessary mircoagression #16,235
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lol. They didn’t raise minimum wage and everything still became more expensive. Please give me more insights
EY how is the affecting your FIRE journey?
You say this as if companies can't reduce their profits. Companies have record profits, shareholders and executives at said companies reap huge windfall. The minimum wage is the only way to get front line workers to earn a liveable age. Direct your frustration where it belongs - the greedy "have lots and lots" who only want more and more.
Yeah! I’d rather billionaires become trillionaires than poor people catching a break!
Middle class wasting their life for the 1% has to be one of the greatest scams of all time.
Cost of labor and cost of living is dramatically different across the country. It may make sense for minimum wage to be $25 an hour in places like NYC, LA & SF. That doesn’t mean it should be $25 for some living in the middle of no where.
The thinking is that corporations are making a bunch of money but paying labor very little because min wage labor can’t effectively negotiate a higher wage. By increasing min wage, some corporate profits will be shared with labor instead of flowing to shareholders or execs. Unclear whether this works. Corporations often automate, increase prices if possible, or find other ways to keep money with execs and shareholders, instead of more evenly share the pie so to speak.
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Doesn’t really have much to do with Fire?
If labor is more expensive, it makes capital relatively less expensive. If you go to Europe, McDonald’s has way more kiosks to order yourself and few workers. There’s a reason for that…
The McDonalds 5 minutes from my house has like 1/3 of the people there than it would've a decade ago. All kiosks to order, the only real reason they have as many people as they do is to take the drive thru orders.
So it's not a Europe only thing. $0 is greater value than whatever the minimum wage is anywhere.