Most fast food workers in California would get a $20 minimum wage next year — a nearly $5 per hour raise — under a deal announced Monday between labor unions and the industry that will avoid a costly referendum on the November 2024 ballot.
And what does "raising the floor" do other than make everything more expensive?
Great, so you are now making $20/hr, but the cost to live just went up as well because apparently everyone else just got a raise as well.
People with actual skills and certifications and degrees aren't going to stand for making just a few dollars more than some skill-less burger flipper, that's for damn sure. So now their labor rates are going to eventually go up. When that happens, companies are just going to tack on another 10 or 20% to their prices.
So you solved absolutely nothing.
What used to cost $100, now costs $120. So you've made absolutely no headway in this because your aren't adding to your skills and getting a better job. Instead you are simply trying to inflate skill-less jobs and pretend like they are artificially worth $20/hr.
And what does "raising the floor" do other than make everything more expensive?
What you're talking about is what is referred to as a "Wage-Price Spiral". While this is the idea that is pushed a lot, it is not actually based on factual data. All recent studies have refuted that it is actually a real thing - even the Cato Institute, a right-wing libertarian think-tank, acknowledges this. Current inflationary forces are overwhelming related to price gouging, extracting more money from society to go into the hoards of billionaires.
Real wages have stagnated since the 70s and completely decoupled from economic productivity under Reagan. The lack of a living minimum wage is nothing more than massive theft of earned wages. I do agree that just setting it at $20 is barely a half-measure. It needs to be tied to cost of living and adjusted annually, without legislative action.
And what does "raising the floor" do other than make everything more expensive?
Great, so you are now making $20/hr, but the cost to live just went up as well because apparently everyone else just got a raise as well.
People with actual skills and certifications and degrees aren't going to stand for making just a few dollars more than some skill-less burger flipper, that's for damn sure. So now their labor rates are going to eventually go up. When that happens, companies are just going to tack on another 10 or 20% to their prices.
So you solved absolutely nothing.
What used to cost $100, now costs $120. So you've made absolutely no headway in this because your aren't adding to your skills and getting a better job. Instead you are simply trying to inflate skill-less jobs and pretend like they are artificially worth $20/hr.
What you're talking about is what is referred to as a "Wage-Price Spiral". While this is the idea that is pushed a lot, it is not actually based on factual data. All recent studies have refuted that it is actually a real thing - even the Cato Institute, a right-wing libertarian think-tank, acknowledges this. Current inflationary forces are overwhelming related to price gouging, extracting more money from society to go into the hoards of billionaires.
Real wages have stagnated since the 70s and completely decoupled from economic productivity under Reagan. The lack of a living minimum wage is nothing more than massive theft of earned wages. I do agree that just setting it at $20 is barely a half-measure. It needs to be tied to cost of living and adjusted annually, without legislative action.
Removed by mod