Reading comprehension be dammed. It's simply not possible to derive logic from the illogical no matter how you look at it. All I know is that there doesn't seem to be as much of this ❤ anymore for those "essential workers" we all have been depending on throughout this crisis that are being payed minimum wage in conservative circles.
And in Los Angeles.Surely, increasing the cost of haircuts would have no negative impact on the demand for barbershops or those who help keep the barbershops clean. Few would ever elect to buy the necessary tools and acquire the skills to cut their own hair or *gasp* pay someone in the neighborhood ‘off the books’ to have their hair cut.
Perhaps you should clarify what you're calling his compensation package.
Because it's not addressing fundamental issues with economic mobility and raises in actual spending power, which have been stagnant since like the 70's. So the min wage can go up to 15/hr but it doesn't increase pay for those who make salary and it doesn't "trickle up". It just raises the bottom end. Eventually, that 15/hr gets inflated away and we're back to square one, except now the middle class is compressed even further and the super rich are still super rich and owning more and more of the American Dream.
IMO $15 an hour definitely trickles up. It's all theory but, if starting tomorrow all minimum wages went up, 99.9% would go back almost immediately into the economy. Life doesn't allow min wage earners to save, they have to spend it just to meet the costs of life. Would it cost jobs? Yes, at least initially. But is it better to have 1 worker that is making headway and one worker out of a minimum wage job, or two workers below the poverty line and eligible to receive government aid?
You're right, about cars.While I can’t argue with the cost of equal housing outpacing general inflation, much of what people consider an increase in the cost of living is not accurately measuring 1980s living expenses as the baseline. For example, only about half of households had cable TV and today consider that as a basic ‘need’.
Another example is cars - they now cost less, have more ‘standard‘ features and last longer.
Cars price inflation, 1935→2023
This calculator uses the official Consumer Price Index for Cars from the U.S. Bureau of Labor Statistics. Cars costing $15,000 in 1935 would cost $129,064.71 in 2023.www.in2013dollars.com
www.aei.org
Raising the bottom end is what we're aiming for.
Higher minimum wages work where they exist in other countries. Their economies are doing just fine.
You're right, about cars.
Chart of the Day…. or Century?
As I wrote in the summer of 2018 on CD, I’ve probably created and posted more than 3,000 graphics on CD, Twitter, and Facebook including charts, graphs, tables, figures, maps, and Venn diagrams over the last 15 years. Of all of those graphics, I don’t think any has gotten more attention, links...
The latter is better by far. People gain experience and skills and move up out of MW jobs. Using government power to lock them out of the job market because we find their current experience and skills set unaesthetic will at best merely expand the underground economy where workers have little to no protection. At worst, we've trapped generations in systematic and legally enforced poverty.
I disagree. MW can be a training ground but it is more common to use it to increase corporate profits. Allowing businesses to pay so little our govt has to step in to provide benefits traps workers in poverty and rewards corporate miserliness.
But many other basic needs have gone up significantly.
I did.
www.aei.org
Chart of the Day…. or Century?
As I wrote in the summer of 2018 on CD, I’ve probably created and posted more than 3,000 graphics on CD, Twitter, and Facebook including charts, graphs, tables, figures, maps, and Venn diagrams over the last 15 years. Of all of those graphics, I don’t think any has gotten more attention, links...