man I think you need to rethink your expectations of what a minimum wage prole can produce
My question was unrelated to welfare...
Dude seriously? the 'value' of gold DOESN'T CHANGE the stupid worthless fiat currency is what changes amIright? Try this one on for size, rather than 'inflate' i.e. devalue our currency starting in 2008 we should have DEFLATED it? We should have gone the exact opposite direction from the commie in chief and
do people really buy those anymore?
How many billions did the United States Postal Service lose last quarter?
The entire issue is the connection between welfare, poverty, and the minimum wage; it's all relevant and needs to be accounted for. Lowering the minimum wage would increase the welfare state and poverty, raising it would reduce it. In either case, society pays for it, either through higher prices or higher taxes, but raising the minimum wage would incentivize a working poor vs. a non-working poor; it's obviously more preferable to have a working poor, and it's mathematically proven to reduce the overall societal cost; prices will not rise at the same rate for increase in MW, than taxes increase due to a reduction of MW. Raising the MW is the most profitable option from a Macro-economic perspective, and that should be reflected as stable or even increased profit at a micro-economic perspective. It's all connected.
That's what "inflation adjusted" means; it takes the increase in money supply into account. Without taking that into account, you just have the nominal rate (which also fell to a half of it's peak value during the years I mentioned). It doesn't matter how you want to see the "value" of it, it's value isn't constant and it goes up and down in an irregular fashion. Even when you look at inflation during the gold standard, prices went up and down, randomly.
How by farming out their work to them while dropping insurance coverage for 20,000 spouses of their own employees? Hell ya now that's smart business !
The USPS (APWU) employees will love that, since then they could play golf 3 days per week.
Naturally there would be no layoffs or the closure of any postal facilities involved, since the USPS employees are salaried they will love your plan!
Wages are a function of demand, but demand is dependent on wages. That's why this question illicits such a vast range of viewpoints; if it was as simple as a supply/demand curve, this wouldn't be a national debate.