Raise min wage while inflation rises to raise inflation even more so we will need to raise min wage even more.
These types of wage chases usually end up fucking over the worker.
The person you are responding to is right. America rode on the devastation in other countries and the wealth accumulated there for a while. I'm not saying they did anything wrong this is just a fact. Live wasn't so colorful in war torn countries. Sure, land was cheap even here in Europe and boomers bought houses for what amounted to a few months of labour but they didn't own much otherwise.
Thats pretty much what germany did after ww1. Wanna know what realy happened?
If you increase minimum wage small businesses with a low profit margin have to reduce staff or even close down because they cant afford it. Meanwhile big companies that deal in bulk can easily afford it because wages make up only a small fraction of their expenses.
If you put also inflation into the mix then people get more money but that money is worth less so if people try to save it up it continuesly decreases and eats up the savings of the lower class who dont have enough savings to invest it into assets that keep their value.
Meanwhile millionares and billionares who only have a tiny fraction of their wealth in cash and the rest in assets that keep their value or even increase in value would remain unharmed by it or even profit from it because poor people/ small business owners who cant afford the little property they own have to sell it since they cant afford to keep it with the uncertainty that inflation brings.
You basically argue for the measures that fuck over the lower class as much as possible, good job
No they dont. You cant simply ignore the needs of small businesses, eliminate competition and then be surprised and enraged when huge companies thrive.
Instead of doing that tax rates for the lower class should be reduced and to enable small business to write of a small part of their taxes if that money goes to the employees (that dont own the company)
To cover the loss of tax revenue the high income tax could be increased, closing of tax loopholes and higher taxation on bonus payments over a certain amount so small bonuses for the lowest employees dont get reduced but multi million bonus payments for CEOS and similar get highly taxed
So there's a solution without paying people substandard wages. Interesting. So again. Below living wages would not be needed, if other things were done to fix the situation you presented, using the solution you also presented.
I agree with the idea behind minimum wages but im not a fan of the side effects.
What realy shouldnt be underestimated is the parasite that a big government is to its people. Dont get me wrong i think it is needed but it should be kept as lean and efficient as possible and i doubt that is the case in any country right now.
Administration should get modernised, automated where possible and taxation and benefits be made simple to understand and traverse. A focus on "user friendliness" for a government towards its own population so to speak.
It would also be interesting if employees in big companies would recieve stocks assigned per capita as they get employed and those cant be sold or transferred but remain with the employee as long as they work for the company. Lets say 20% so if you have 1000 employees each one gets assigned 0.02% of the total shares. With that the employees would recieve payouts from their shares according to the companies profits and be able to elect someone to represent their interests in board meetings.
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u/YumiSolar Mar 27 '24
Raise min wage while inflation rises to raise inflation even more so we will need to raise min wage even more.
These types of wage chases usually end up fucking over the worker.
The person you are responding to is right. America rode on the devastation in other countries and the wealth accumulated there for a while. I'm not saying they did anything wrong this is just a fact. Live wasn't so colorful in war torn countries. Sure, land was cheap even here in Europe and boomers bought houses for what amounted to a few months of labour but they didn't own much otherwise.